United Community Banks, Inc. (UCBI) Stake Lessened by United Services Automobile Association

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United Services Automobile Association trimmed its position in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 47.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 163,740 shares of the financial services provider’s stock after selling 149,400 shares during the period. United Services Automobile Association owned 0.21% of United Community Banks worth $5,022,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Citadel Advisors LLC raised its position in shares of United Community Banks by 740.6% in the second quarter. Citadel Advisors LLC now owns 201,691 shares of the financial services provider’s stock worth $6,186,000 after buying an additional 177,698 shares in the last quarter. FMR LLC raised its position in shares of United Community Banks by 27.9% in the second quarter. FMR LLC now owns 2,258,564 shares of the financial services provider’s stock worth $69,271,000 after buying an additional 492,017 shares in the last quarter. Legal & General Group Plc raised its position in shares of United Community Banks by 5.7% in the second quarter. Legal & General Group Plc now owns 161,249 shares of the financial services provider’s stock worth $4,973,000 after buying an additional 8,706 shares in the last quarter. BlackRock Inc. raised its position in shares of United Community Banks by 7.6% in the second quarter. BlackRock Inc. now owns 11,676,225 shares of the financial services provider’s stock worth $358,110,000 after buying an additional 823,876 shares in the last quarter. Finally, Pinebridge Investments L.P. raised its position in shares of United Community Banks by 5.0% in the second quarter. Pinebridge Investments L.P. now owns 60,144 shares of the financial services provider’s stock worth $1,844,000 after buying an additional 2,879 shares in the last quarter. 88.41% of the stock is owned by institutional investors and hedge funds.

NASDAQ UCBI opened at $30.33 on Wednesday. United Community Banks, Inc. has a twelve month low of $24.47 and a twelve month high of $34.18. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.63. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 18.61 and a beta of 0.89.

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

The company 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 1.98%. United Community Banks’s payout ratio is 36.81%.

UCBI has been the topic of a number of recent analyst reports. BidaskClub upgraded United Community Banks from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 11th. SunTrust Banks downgraded United Community Banks from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Hovde Group set a $34.00 price objective on United Community Banks and gave the stock a “buy” rating in a research report on Monday, July 30th. Finally, Zacks Investment Research upgraded United Community Banks from a “sell” rating to a “hold” rating in a research report on Tuesday, August 21st. One investment 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 an average price target of $32.67.

About United Community Banks

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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