BlueCrest Capital Management Ltd Acquires New Position in United Community Banks, Inc. (UCBI)

BlueCrest Capital Management Ltd acquired a new position in United Community Banks, Inc. (NASDAQ:UCBI) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 77,246 shares of the financial services provider’s stock, valued at approximately $2,147,000. BlueCrest Capital Management Ltd owned approximately 0.11% of United Community Banks as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Riverhead Capital Management LLC grew its stake in United Community Banks by 134.3% in the second quarter. Riverhead Capital Management LLC now owns 5,390 shares of the financial services provider’s stock worth $150,000 after purchasing an additional 3,090 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in United Community Banks in the first quarter worth approximately $168,000. PNC Financial Services Group Inc. grew its stake in United Community Banks by 4.0% in the first quarter. PNC Financial Services Group Inc. now owns 7,604 shares of the financial services provider’s stock worth $210,000 after purchasing an additional 295 shares in the last quarter. Fox Run Management L.L.C. bought a new position in United Community Banks in the second quarter worth approximately $211,000. Finally, Amalgamated Bank grew its stake in United Community Banks by 1.5% in the second quarter. Amalgamated Bank now owns 9,645 shares of the financial services provider’s stock worth $268,000 after purchasing an additional 140 shares in the last quarter. 86.71% of the stock is currently owned by institutional investors.

Shares of United Community Banks, Inc. (NASDAQ UCBI) opened at 28.38 on Wednesday. The firm’s 50-day moving average price is $26.78 and its 200-day moving average price is $27.12. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 19.44 and a beta of 0.87. United Community Banks, Inc. has a 12-month low of $20.26 and a 12-month high of $30.47.

United Community Banks (NASDAQ:UCBI) last posted its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The business had revenue of $108.00 million during the quarter, compared to the consensus estimate of $110.49 million. United Community Banks had a net margin of 23.07% and a return on equity of 10.42%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.36 earnings per share. On average, analysts forecast that United Community Banks, Inc. will post $1.63 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 5th. Shareholders of record on Friday, September 15th were paid a $0.10 dividend. This is an increase from United Community Banks’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.40 annualized dividend and a dividend yield of 1.40%. United Community Banks’s payout ratio is 27.40%.

COPYRIGHT VIOLATION NOTICE: This story was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this story on another domain, it was illegally stolen and republished in violation of international trademark & copyright legislation. The original version of this story can be viewed at https://ledgergazette.com/2017/10/11/bluecrest-capital-management-ltd-acquires-new-position-in-united-community-banks-inc-ucbi.html.

In other United Community Banks news, EVP Robert A. Edwards sold 11,550 shares of the business’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $26.06, for a total value of $300,993.00. Following the completion of the transaction, the executive vice president now owns 16,858 shares in the company, valued at $439,319.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.18% of the company’s stock.

Several brokerages recently issued reports on UCBI. Zacks Investment Research raised United Community Banks from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Wednesday, September 27th. BidaskClub cut United Community Banks from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Raymond James Financial, Inc. dropped their price objective on United Community Banks from $32.00 to $31.00 and set a “strong-buy” rating on the stock in a research note on Thursday, July 27th. Stephens reissued a “hold” rating and issued a $30.00 price objective on shares of United Community Banks in a research note on Tuesday, June 27th. Finally, FIG Partners raised United Community Banks from a “market perform” rating to an “outperform” rating and set a $32.00 price objective on the stock in a research note on Wednesday, August 16th. One equities research analyst has rated the stock with a sell rating, two have g

Other large investors have also recently made changes to their positions in the company. Riverhead Capital Management LLC grew its stake in United Community Banks by 134.3% in the second quarter. Riverhead Capital Management LLC now owns 5,390 shares of the financial services provider’s stock worth $150,000 after purchasing an additional 3,090 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in United Community Banks in the first quarter worth approximately $168,000. PNC Financial Services Group Inc. grew its stake in United Community Banks by 4.0% in the first quarter. PNC Financial Services Group Inc. now owns 7,604 shares of the financial services provider’s stock worth $210,000 after purchasing an additional 295 shares in the last quarter. Fox Run Management L.L.C. bought a new position in United Community Banks in the second quarter worth approximately $211,000. Finally, Amalgamated Bank grew its stake in United Community Banks by 1.5% in the second quarter. Amalgamated Bank now owns 9,645 shares of the financial services provider’s stock worth $268,000 after purchasing an additional 140 shares in the last quarter. 86.71% of the stock is currently owned by institutional investors.

Shares of United Community Banks, Inc. (NASDAQ UCBI) opened at 28.38 on Wednesday. The firm’s 50-day moving average price is $26.78 and its 200-day moving average price is $27.12. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 19.44 and a beta of 0.87. United Community Banks, Inc. has a 12-month low of $20.26 and a 12-month high of $30.47.

United Community Banks (NASDAQ:UCBI) last posted its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The business had revenue of $108.00 million during the quarter, compared to the consensus estimate of $110.49 million. United Community Banks had a net margin of 23.07% and a return on equity of 10.42%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.36 earnings per share. On average, analysts forecast that United Community Banks, Inc. will post $1.63 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 5th. Shareholders of record on Friday, September 15th were paid a $0.10 dividend. This is an increase from United Community Banks’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.40 annualized dividend and a dividend yield of 1.40%. United Community Banks’s payout ratio is 27.40%.

COPYRIGHT VIOLATION NOTICE: This story was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this story on another domain, it was illegally stolen and republished in violation of international trademark & copyright legislation. The original version of this story can be viewed at https://ledgergazette.com/2017/10/11/bluecrest-capital-management-ltd-acquires-new-position-in-united-community-banks-inc-ucbi.html.

In other United Community Banks news, EVP Robert A. Edwards sold 11,550 shares of the business’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $26.06, for a total value of $300,993.00. Following the completion of the transaction, the executive vice president now owns 16,858 shares in the company, valued at $439,319.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.18% of the company’s stock.

Several brokerages recently issued reports on UCBI. Zacks Investment Research raised United Community Banks from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Wednesday, September 27th. BidaskClub cut United Community Banks from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Raymond James Financial, Inc. dropped their price objective on United Community Banks from $32.00 to $31.00 and set a “strong-buy” rating on the stock in a research note on Thursday, July 27th. Stephens reissued a “hold” rating and issued a $30.00 price objective on shares of United Community Banks in a research note on Tuesday, June 27th. Finally, FIG Partners raised United Community Banks from a “market perform” rating to an “outperform” rating and set a $32.00 price objective on the stock in a research note on Wednesday, August 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $30.71.

United Community Banks Profile

United Community Banks, Inc (United) is a bank holding company. United conducts its operations through a community-focused operating model of separate community banks, which, as of December 31, 2016, operated at 139 locations throughout the Atlanta-Sandy Springs-Roswell, Georgia, and Gainesville, Georgia metropolitan statistical areas, upstate and coastal South Carolina, north and coastal Georgia, western North Carolina, and east Tennessee.

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

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