Nordea Investment Management AB lowered its stake in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 9.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 147,500 shares of the financial services provider’s stock after selling 15,400 shares during the period. Nordea Investment Management AB owned about 0.19% of United Community Banks worth $3,677,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in UCBI. Public Employees Retirement System of Ohio lifted its holdings in shares of United Community Banks by 60.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 1,218 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 458 shares in the last quarter. Toronto Dominion Bank bought a new position in shares of United Community Banks in the fourth quarter worth $28,000. Versant Capital Management Inc increased its position in shares of United Community Banks by 243.8% in the first quarter. Versant Capital Management Inc now owns 1,255 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 890 shares during the period. Meeder Asset Management Inc. bought a new position in shares of United Community Banks in the first quarter worth $51,000. Finally, SG Americas Securities LLC bought a new position in shares of United Community Banks in the fourth quarter worth $150,000. 89.51% of the stock is currently owned by hedge funds and other institutional investors.
UCBI has been the topic of a number of research analyst reports. Zacks Investment Research lowered EXACT Sciences from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. ValuEngine raised USINAS SIDERURG/S from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Finally, BidaskClub cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. United Community Banks has an average rating of “Hold” and an average target price of $30.17.
United Community Banks (NASDAQ:UCBI) last released its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.02. The business had revenue of $133.30 million for the quarter, compared to analyst estimates of $137.03 million. United Community Banks had a return on equity of 12.33% and a net margin of 27.98%. United Community Banks’s revenue was up 9.4% compared to the same quarter last year. During the same period last year, the firm posted $0.50 earnings per share. As a group, analysts expect that United Community Banks, Inc. will post 2.33 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Saturday, June 15th were issued a dividend of $0.17 per share. This is an increase from United Community Banks’s previous quarterly dividend of $0.16. The ex-dividend date was Thursday, June 13th. This represents a $0.68 annualized dividend and a dividend yield of 2.44%. United Community Banks’s payout ratio is currently 31.78%.
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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