UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $7.52 Million Position in United Community Banks, Inc. $UCB

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in shares of United Community Banks, Inc. (NYSE:UCB) by 10.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 214,390 shares of the company’s stock after selling 26,195 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.18% of United Community Banks worth $7,523,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in UCB. Caitong International Asset Management Co. Ltd acquired a new position in shares of United Community Banks during the 4th quarter worth about $29,000. Covestor Ltd boosted its stake in United Community Banks by 196.1% during the 4th quarter. Covestor Ltd now owns 992 shares of the company’s stock valued at $31,000 after purchasing an additional 657 shares during the period. Kestra Advisory Services LLC acquired a new stake in United Community Banks in the 4th quarter valued at approximately $42,000. Public Employees Retirement System of Ohio bought a new position in United Community Banks in the 2nd quarter worth approximately $54,000. Finally, EverSource Wealth Advisors LLC increased its position in United Community Banks by 130.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,951 shares of the company’s stock worth $58,000 after buying an additional 1,106 shares during the period. 82.29% of the stock is owned by institutional investors and hedge funds.

United Community Banks Stock Performance

Shares of United Community Banks stock opened at $35.64 on Tuesday. United Community Banks, Inc. has a 52-week low of $28.65 and a 52-week high of $37.18. The firm has a market capitalization of $4.30 billion, a PE ratio of 11.72 and a beta of 0.81. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.83. The company’s fifty day moving average price is $35.60 and its two-hundred day moving average price is $33.78.

United Community Banks (NYSE:UCB) last released its quarterly earnings data on Tuesday, July 21st. The company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). United Community Banks had a return on equity of 9.61% and a net margin of 24.43%.The business had revenue of $279.28 million for the quarter. On average, analysts expect that United Community Banks, Inc. will post 2.94 EPS for the current year.

United Community Banks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.26 per share. This is a positive change from United Community Banks’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Tuesday, September 15th. United Community Banks’s dividend payout ratio is 32.89%.

Insider Buying and Selling

In other news, EVP Jefferson L. Harralson sold 25,000 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $35.41, for a total value of $885,250.00. Following the completion of the transaction, the executive vice president directly owned 37,433 shares of the company’s stock, valued at approximately $1,325,502.53. This represents a 40.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Richard Bradshaw sold 1,424 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $35.09, for a total value of $49,968.16. Following the transaction, the executive vice president owned 83,228 shares of the company’s stock, valued at $2,920,470.52. This trade represents a 1.68% decrease in their position. The SEC filing for this sale provides additional information. 0.45% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on UCB shares. Wall Street Zen cut United Community Banks from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. TD Cowen raised shares of United Community Banks to a “strong-buy” rating in a research report on Thursday, July 16th. Piper Sandler reiterated a “neutral” rating and set a $37.00 target price on shares of United Community Banks in a research note on Wednesday, July 22nd. DA Davidson reissued a “buy” rating and issued a $40.00 price target on shares of United Community Banks in a report on Wednesday, July 22nd. Finally, Weiss Ratings upgraded shares of United Community Banks from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, United Community Banks currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.80.

United Community Banks Profile

United Community Banks, Inc (NYSE: UCB) is a bank holding company headquartered in Blairsville, Georgia. It operates primarily through its subsidiary, United Community Bank, providing a broad range of banking and financial services to individual, business and governmental customers. The company’s core offerings include deposit accounts, commercial and consumer lending, mortgage origination, treasury and cash management services, and wealth management.

In addition to traditional banking products such as checking, savings and money market accounts, United Community Bank specializes in commercial real estate financing, small business administration (SBA) loans, equipment financing and agricultural lending.