Arizona State Retirement System lowered its stake in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 7.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 107,153 shares of the financial services provider’s stock after selling 8,906 shares during the quarter. Arizona State Retirement System owned approximately 0.14% of United Community Banks worth $3,286,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in UCBI. BlackRock Inc. boosted its position in United Community Banks by 6.8% during the 1st quarter. BlackRock Inc. now owns 10,852,349 shares of the financial services provider’s stock valued at $343,478,000 after purchasing an additional 693,539 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in United Community Banks by 19.1% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,458,439 shares of the financial services provider’s stock valued at $75,401,000 after purchasing an additional 394,625 shares during the period. Pier Capital LLC acquired a new position in United Community Banks during the 1st quarter valued at approximately $8,504,000. Hsbc Holdings PLC boosted its position in United Community Banks by 178.5% during the 1st quarter. Hsbc Holdings PLC now owns 328,902 shares of the financial services provider’s stock valued at $10,410,000 after purchasing an additional 210,814 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in United Community Banks by 22.2% during the 1st quarter. JPMorgan Chase & Co. now owns 987,432 shares of the financial services provider’s stock valued at $31,252,000 after purchasing an additional 179,591 shares during the period. Institutional investors and hedge funds own 85.53% of the company’s stock.
NASDAQ:UCBI opened at $30.16 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.85 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. The company has a market cap of $2.42 billion, a P/E ratio of 18.50 and a beta of 0.83.
United Community Banks (NASDAQ:UCBI) last announced its quarterly earnings results on Tuesday, July 24th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.01). United Community Banks had a return on equity of 10.99% and a net margin of 17.42%. The business had revenue of $130.02 million for the quarter, compared to analyst estimates of $133.24 million. During the same quarter last year, the firm posted $0.41 EPS. The company’s revenue was up 20.3% compared to the same quarter last year. equities analysts expect that United Community Banks, Inc. will post 2.16 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 5th. Shareholders of record on Saturday, September 15th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $0.60 dividend on an annualized basis and a yield of 1.99%. United Community Banks’s dividend payout ratio (DPR) is presently 36.81%.
A number of research analysts recently issued reports on UCBI shares. Zacks Investment Research upgraded United Community Banks from a “sell” rating to a “hold” rating in a research report on Tuesday, August 21st. SunTrust Banks lowered United Community Banks from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. BidaskClub lowered United Community Banks from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 13th. Finally, Hovde Group set a $34.00 price objective on United Community Banks and gave the company a “buy” rating in a research report on Monday, July 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $32.67.
United Community Banks Company 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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