Jupiter Asset Management Ltd. Raises Stock Holdings in United Community Banks, Inc. $UCB

Jupiter Asset Management Ltd. increased its holdings in shares of United Community Banks, Inc. (NYSE:UCB) by 141.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 152,108 shares of the company’s stock after acquiring an additional 89,067 shares during the period. Jupiter Asset Management Ltd.’s holdings in United Community Banks were worth $4,531,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of UCB. Allworth Financial LP increased its stake in United Community Banks by 13,585.0% in the second quarter. Allworth Financial LP now owns 2,737 shares of the company’s stock worth $82,000 after purchasing an additional 2,717 shares during the period. Campbell & CO Investment Adviser LLC boosted its stake in shares of United Community Banks by 90.4% during the second quarter. Campbell & CO Investment Adviser LLC now owns 30,845 shares of the company’s stock valued at $919,000 after purchasing an additional 14,641 shares during the period. Fox Run Management L.L.C. bought a new position in shares of United Community Banks in the second quarter worth about $559,000. OneAscent Wealth Management LLC purchased a new position in United Community Banks in the 2nd quarter worth about $321,000. Finally, Modera Wealth Management LLC purchased a new position in United Community Banks in the 2nd quarter worth about $207,000. Hedge funds and other institutional investors own 82.29% of the company’s stock.

Insider Buying and Selling

In other United Community Banks news, EVP Richard Bradshaw sold 1,654 shares of the business’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $30.23, for a total transaction of $50,000.42. Following the sale, the executive vice president owned 75,226 shares in the company, valued at approximately $2,274,081.98. The trade was a 2.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on UCB. DA Davidson boosted their price objective on shares of United Community Banks from $34.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Keefe, Bruyette & Woods increased their price objective on United Community Banks from $32.00 to $34.00 and gave the stock a “market perform” rating in a research note on Monday, July 28th. Wall Street Zen upgraded United Community Banks from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of United Community Banks in a research report on Wednesday, October 8th. Finally, Hovde Group raised their price objective on United Community Banks from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, United Community Banks presently has a consensus rating of “Hold” and an average price target of $35.33.

United Community Banks Trading Down 0.6%

NYSE:UCB opened at $29.96 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.80 and a current ratio of 0.80. United Community Banks, Inc. has a twelve month low of $22.93 and a twelve month high of $35.38. The stock has a market cap of $3.64 billion, a P/E ratio of 11.89 and a beta of 0.91. The stock’s 50 day moving average is $30.98.

United Community Banks (NYSE:UCB) last posted its quarterly earnings results on Wednesday, October 22nd. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.05. United Community Banks had a net margin of 20.67% and a return on equity of 9.42%. The business had revenue of $276.85 million during the quarter, compared to analysts’ expectations of $270.85 million. During the same quarter last year, the company posted $0.57 earnings per share. The business’s quarterly revenue was up 27.4% on a year-over-year basis.

United Community Banks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 15th will be paid a $0.25 dividend. The ex-dividend date is Monday, December 15th. This represents a $1.00 dividend on an annualized basis and a yield of 3.3%. United Community Banks’s dividend payout ratio (DPR) is 39.68%.

United Community Banks Company 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. The company accepts various deposit products, including checking, savings, money market, and other deposit accounts.