Russell Investments Group Ltd. boosted its stake in United Community Banks, Inc. (NASDAQ:UCBI – Get Rating) by 11.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 225,975 shares of the financial services provider's stock after acquiring an additional 23,988 shares during the period. Russell Investments Group Ltd. owned 0.21% of United Community Banks worth $6,820,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. California Public Employees Retirement System acquired a new position in United Community Banks in the 1st quarter valued at about $1,012,000. Victory Capital Management Inc. boosted its holdings in United Community Banks by 4.3% in the 1st quarter. Victory Capital Management Inc. now owns 1,048,908 shares of the financial services provider's stock valued at $36,391,000 after purchasing an additional 43,201 shares in the last quarter. Marks Group Wealth Management Inc purchased a new stake in United Community Banks in the 1st quarter valued at approximately $205,000. Crossmark Global Holdings Inc. boosted its holdings in United Community Banks by 10.8% in the 1st quarter. Crossmark Global Holdings Inc. now owns 8,314 shares of the financial services provider's stock valued at $290,000 after purchasing an additional 810 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in United Community Banks by 10.5% in the 1st quarter. New York State Common Retirement Fund now owns 102,466 shares of the financial services provider's stock valued at $3,566,000 after purchasing an additional 9,765 shares in the last quarter. Institutional investors and hedge funds own 84.78% of the company's stock.
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United Community Banks Price Performance
Shares of NASDAQ:UCBI opened at $36.01 on Monday. The business's 50 day simple moving average is $34.30 and its 200-day simple moving average is $32.32. The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of 15.46 and a beta of 0.98. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.74 and a quick ratio of 0.74. United Community Banks, Inc. has a 12 month low of $27.85 and a 12 month high of $39.32.
United Community Banks (NASDAQ:UCBI – Get Rating) last announced its quarterly earnings results on Wednesday, October 19th. The financial services provider reported $0.75 EPS for the quarter, hitting the consensus estimate of $0.75. The business had revenue of $231.70 million for the quarter, compared to analyst estimates of $226.68 million. United Community Banks had a return on equity of 10.99% and a net
margin of 28.92%. The company's quarterly revenue was up 27.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.83 EPS. As a group, equities analysts forecast that United Community Banks, Inc. will post 2.75 earnings per share for the current fiscal year.
United Community Banks Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 5th. Investors of record on Thursday, September 15th were paid a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $0.88 dividend on an annualized basis and a yield of 2.44%. This is a positive change from United Community Banks's previous quarterly dividend of $0.21. United Community Banks's dividend payout ratio is presently 37.77%.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the company. Piper Sandler lifted their price objective on United Community Banks from $36.00 to $40.00 and gave the company an "overweight" rating in a report on Thursday. StockNews.com lowered United Community Banks from a "hold" rating to a "sell" rating in a report on Thursday.
United Community Banks Profile
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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.
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