Legal & General Group Plc Increases Position in United Community Banks, Inc. $UCB

Legal & General Group Plc grew its position in shares of United Community Banks, Inc. (NYSE:UCB) by 2.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 325,152 shares of the company’s stock after purchasing an additional 6,346 shares during the period. Legal & General Group Plc owned approximately 0.27% of United Community Banks worth $9,688,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. acquired a new position in United Community Banks during the 1st quarter worth about $460,000. Deutsche Bank AG increased its stake in United Community Banks by 13.2% during the first quarter. Deutsche Bank AG now owns 113,794 shares of the company’s stock worth $3,201,000 after purchasing an additional 13,253 shares during the period. HighTower Advisors LLC purchased a new stake in United Community Banks during the first quarter worth about $1,728,000. Inspire Investing LLC acquired a new stake in shares of United Community Banks during the first quarter worth about $345,000. Finally, Raymond James Financial Inc. lifted its position in shares of United Community Banks by 11.9% during the first quarter. Raymond James Financial Inc. now owns 300,514 shares of the company’s stock worth $8,454,000 after purchasing an additional 31,999 shares in the last quarter. 82.29% of the stock is owned by institutional investors and hedge funds.

United Community Banks Trading Up 1.2%

United Community Banks stock opened at $30.93 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.04. The stock’s fifty day moving average price is $30.51. The stock has a market cap of $3.76 billion, a PE ratio of 12.28 and a beta of 0.91. United Community Banks, Inc. has a 12-month low of $22.93 and a 12-month high of $34.57.

United Community Banks (NYSE:UCB) last posted its earnings results on Wednesday, October 22nd. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.70 by $0.05. The firm had revenue of $276.85 million for the quarter, compared to analyst estimates of $270.85 million. United Community Banks had a return on equity of 9.42% and a net margin of 20.67%.United Community Banks’s revenue for the quarter was up 27.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.57 earnings per share.

United Community Banks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, December 15th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, December 15th. United Community Banks’s dividend payout ratio (DPR) is 39.68%.

Insiders Place Their Bets

In related news, EVP Richard Bradshaw sold 1,654 shares of the business’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $30.23, for a total transaction of $50,000.42. Following the completion of the sale, the executive vice president owned 75,226 shares in the company, valued at $2,274,081.98. The trade was a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.43% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of United Community Banks in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, United Community Banks presently has an average rating of “Hold” and an average price target of $35.33.

United Community Banks Profile

United Community Banks, Inc operates as the financial holding company for United Community Bank that provides financial products and services to commercial, retail, government, education, energy, health care, and real estate sectors. The company accepts various deposit products, including checking, savings, money market, and other deposit accounts.