Boston Partners trimmed its position in United Community Banks, Inc. (NASDAQ:UCBI) by 42.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 209,499 shares of the financial services provider’s stock after selling 155,180 shares during the quarter. Boston Partners owned approximately 0.30% of United Community Banks worth $5,979,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of UCBI. Riverhead Capital Management LLC grew its stake in United Community Banks by 134.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,390 shares of the financial services provider’s stock worth $150,000 after buying an additional 3,090 shares during the last quarter. Palouse Capital Management Inc. bought a new position in United Community Banks during the 3rd quarter worth $207,000. Fox Run Management L.L.C. bought a new position in United Community Banks during the 2nd quarter worth $211,000. PNC Financial Services Group Inc. grew its stake in United Community Banks by 4.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,604 shares of the financial services provider’s stock worth $210,000 after buying an additional 295 shares during the last quarter. Finally, Amalgamated Bank grew its stake in United Community Banks by 1.5% during the 2nd quarter. Amalgamated Bank now owns 9,645 shares of the financial services provider’s stock worth $268,000 after buying an additional 140 shares during the last quarter. Institutional investors and hedge funds own 87.54% of the company’s stock.
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United Community Banks, Inc. (NASDAQ UCBI) opened at $26.67 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.80 and a current ratio of 0.81. United Community Banks, Inc. has a 12-month low of $24.47 and a 12-month high of $30.47. The stock has a market capitalization of $1,930.55, a price-to-earnings ratio of 16.33 and a beta of 0.88.
United Community Banks (NASDAQ:UCBI) last announced its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.41. The company had revenue of $109.35 million during the quarter, compared to analyst estimates of $114.65 million. United Community Banks had a return on equity of 10.31% and a net margin of 23.09%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 EPS. sell-side analysts expect that United Community Banks, Inc. will post 1.63 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 15th will be issued a $0.10 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.40 annualized dividend and a dividend yield of 1.50%. United Community Banks’s dividend payout ratio (DPR) is 27.03%.
A number of research analysts recently commented on UCBI shares. Zacks Investment Research downgraded United Community Banks from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. FIG Partners upgraded United Community Banks from a “market perform” rating to an “outperform” rating and set a $32.00 price objective for the company in a research note on Wednesday, August 16th. Raymond James Financial, Inc. reduced their price target on United Community Banks from $32.00 to $31.00 and set a “strong-buy” rating for the company in a research report on Thursday, July 27th. Stephens reiterated a “hold” rating and set a $29.00 price target on shares of United Community Banks in a research report on Wednesday, July 26th. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and set a $33.00 price target on shares of United Community Banks in a research report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. United Community Banks has an average rating of “Buy” and an average target price of $31.25.
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.
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