2,619 Shares in United Community Banks, Inc. (NASDAQ:UCBI) Purchased by GAMMA Investing LLC

GAMMA Investing LLC acquired a new position in shares of United Community Banks, Inc. (NASDAQ:UCBI) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,619 shares of the financial services provider’s stock, valued at approximately $72,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in United Community Banks by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 13,278,707 shares of the financial services provider’s stock worth $337,412,000 after purchasing an additional 245,944 shares in the last quarter. FMR LLC increased its position in United Community Banks by 15.1% during the 3rd quarter. FMR LLC now owns 8,518,870 shares of the financial services provider’s stock worth $216,464,000 after purchasing an additional 1,117,539 shares in the last quarter. Northern Trust Corp grew its holdings in United Community Banks by 21.4% in the 3rd quarter. Northern Trust Corp now owns 1,913,924 shares of the financial services provider’s stock valued at $48,633,000 after buying an additional 337,102 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in United Community Banks by 17.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,772,058 shares of the financial services provider’s stock valued at $45,028,000 after buying an additional 265,356 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in United Community Banks by 7.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,169,530 shares of the financial services provider’s stock valued at $29,718,000 after buying an additional 78,319 shares during the period. Hedge funds and other institutional investors own 82.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on UCBI shares. TheStreet cut United Community Banks from a “b” rating to a “c+” rating in a report on Wednesday, January 24th. DA Davidson restated a “buy” rating on shares of United Community Banks in a report on Monday, January 15th. Truist Financial lowered their price target on United Community Banks from $31.00 to $28.00 and set a “hold” rating for the company in a report on Monday, April 1st. Piper Sandler lowered their price target on United Community Banks from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Finally, StockNews.com upgraded United Community Banks to a “sell” rating in a report on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $30.60.

United Community Banks Stock Performance

NASDAQ UCBI opened at $25.23 on Wednesday. The firm has a market capitalization of $3.00 billion, a P/E ratio of 16.38 and a beta of 0.94. United Community Banks, Inc. has a 1-year low of $20.37 and a 1-year high of $30.75. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81. The business’s 50-day simple moving average is $25.51 and its 200-day simple moving average is $26.23.

United Community Banks (NASDAQ:UCBI) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.50 by $0.02. The firm had revenue of $225.80 million for the quarter, compared to analyst estimates of $232.00 million. United Community Banks had a return on equity of 8.02% and a net margin of 13.62%. United Community Banks’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.58 EPS. Equities analysts predict that United Community Banks, Inc. will post 2.12 EPS for the current year.

United Community Banks Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.65%. The ex-dividend date was Thursday, March 14th. United Community Banks’s dividend payout ratio (DPR) is presently 59.74%.

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