Intrust Bank NA Takes $209,000 Position in United Community Banks, Inc. (UCBI)

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Intrust Bank NA purchased a new position in United Community Banks, Inc. (NASDAQ:UCBI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,802 shares of the financial services provider’s stock, valued at approximately $209,000.

A number of other large investors have also modified their holdings of UCBI. FSI Group LLC raised its holdings in shares of United Community Banks by 32.6% in the 1st quarter. FSI Group LLC now owns 172,723 shares of the financial services provider’s stock worth $5,467,000 after purchasing an additional 42,465 shares during the period. M&T Bank Corp raised its holdings in shares of United Community Banks by 36.6% in the 1st quarter. M&T Bank Corp now owns 22,542 shares of the financial services provider’s stock worth $714,000 after purchasing an additional 6,041 shares during the period. State of Wisconsin Investment Board purchased a new position in shares of United Community Banks in the 1st quarter worth about $4,114,000. LPL Financial LLC purchased a new position in shares of United Community Banks in the 1st quarter worth about $389,000. Finally, Schwab Charles Investment Management Inc. raised its holdings in shares of United Community Banks by 3.4% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 431,563 shares of the financial services provider’s stock worth $13,659,000 after purchasing an additional 14,180 shares during the period. 86.70% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have recently commented on UCBI. Zacks Investment Research upgraded United Community Banks from a “sell” rating to a “hold” rating in a report on Tuesday. BidaskClub downgraded United Community Banks from a “hold” rating to a “sell” rating in a report on Saturday, July 14th. SunTrust Banks downgraded United Community Banks from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. Finally, Hovde Group set a $34.00 price objective on United Community Banks and gave the stock a “buy” rating in a report on Monday, July 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $32.67.

United Community Banks stock opened at $31.46 on Wednesday. The stock has a market capitalization of $2.46 billion, a PE ratio of 19.30 and a beta of 0.83. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.63. United Community Banks, Inc. has a 12 month low of $24.47 and a 12 month high of $34.18.

United Community Banks (NASDAQ:UCBI) last announced its earnings results on Tuesday, July 24th. The financial services provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.01). The company had revenue of $130.02 million for the quarter, compared to analysts’ expectations of $133.24 million. United Community Banks had a net margin of 17.42% and a return on equity of 10.99%. The business’s quarterly revenue was up 20.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.41 earnings per share. equities analysts forecast that United Community Banks, Inc. will post 2.16 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 5th. Investors of record on Saturday, September 15th will be issued a dividend of $0.15 per share. The ex-dividend date is Thursday, September 13th. This represents a $0.60 annualized dividend and a dividend yield of 1.91%. United Community Banks’s payout ratio is currently 36.81%.

United Community Banks Profile

United Community Banks, Inc operates as the bank holding company for United Community Bank that provides retail and corporate banking services to individuals and businesses. It offers various deposit accounts, such as checking accounts, savings and time deposits accounts, NOW accounts, money market deposits, and certificates of deposit.

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Institutional Ownership by Quarter for United Community Banks (NASDAQ:UCBI)

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