Paloma Partners Management Co Invests $260,000 in United Community Banks, Inc. (NASDAQ:UCBI)

Paloma Partners Management Co purchased a new position in United Community Banks, Inc. (NASDAQ:UCBI) in the first quarter, Holdings Channel reports. The institutional investor purchased 9,897 shares of the financial services provider’s stock, valued at approximately $260,000.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC bought a new position in shares of United Community Banks in the fourth quarter worth $72,000. SG Americas Securities LLC bought a new position in shares of United Community Banks in the fourth quarter worth $115,000. FinTrust Capital Advisors LLC boosted its holdings in shares of United Community Banks by 12.5% in the fourth quarter. FinTrust Capital Advisors LLC now owns 4,493 shares of the financial services provider’s stock worth $131,000 after acquiring an additional 500 shares during the period. TFO Wealth Partners LLC boosted its holdings in shares of United Community Banks by 111,360.0% in the fourth quarter. TFO Wealth Partners LLC now owns 5,573 shares of the financial services provider’s stock worth $163,000 after acquiring an additional 5,568 shares during the period. Finally, Strs Ohio boosted its stake in United Community Banks by 17.6% during the fourth quarter. Strs Ohio now owns 6,000 shares of the financial services provider’s stock valued at $175,000 after buying an additional 900 shares during the period. 82.29% of the stock is owned by institutional investors.

United Community Banks Trading Up 0.7 %

Shares of UCBI traded up $0.21 during trading hours on Tuesday, hitting $31.00. The company had a trading volume of 118,047 shares, compared to its average volume of 588,722. The firm has a market cap of $3.69 billion, a P/E ratio of 19.99 and a beta of 0.91. The stock’s 50 day moving average price is $26.25 and its 200 day moving average price is $26.33. The company has a quick ratio of 0.79, a current ratio of 0.80 and a debt-to-equity ratio of 0.10. United Community Banks, Inc. has a 52-week low of $21.63 and a 52-week high of $31.96.

United Community Banks (NASDAQ:UCBI) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.51 by $0.07. United Community Banks had a return on equity of 8.04% and a net margin of 13.36%. The firm had revenue of $347.00 million for the quarter, compared to the consensus estimate of $238.95 million. During the same quarter in the previous year, the business earned $0.55 earnings per share. The company’s quarterly revenue was up 17.3% on a year-over-year basis. On average, research analysts predict that United Community Banks, Inc. will post 2.22 EPS for the current year.

United Community Banks Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Saturday, June 15th were issued a dividend of $0.23 per share. The ex-dividend date was Friday, June 14th. This represents a $0.92 dividend on an annualized basis and a yield of 2.97%. United Community Banks’s dividend payout ratio is presently 59.74%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods lifted their price objective on United Community Banks from $28.00 to $32.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. StockNews.com upgraded United Community Banks from a “sell” rating to a “hold” rating in a research report on Thursday, July 25th. DA Davidson raised their price target on United Community Banks from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Piper Sandler lowered their price target on United Community Banks from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Finally, Truist Financial raised their price target on United Community Banks from $26.00 to $31.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, United Community Banks currently has an average rating of “Hold” and a consensus price target of $31.50.

United Community Banks Profile

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. It accepts various deposit products, including checking, savings, money market, and other deposit accounts.