Prudential Financial Inc. Sells 127,401 Shares of United Community Banks, Inc. (NASDAQ:UCBI)

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Prudential Financial Inc. decreased its stake in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 37.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 215,120 shares of the financial services provider’s stock after selling 127,401 shares during the period. Prudential Financial Inc. owned approximately 0.27% of United Community Banks worth $6,144,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Acadian Asset Management LLC grew its position in United Community Banks by 86.1% in the second quarter. Acadian Asset Management LLC now owns 262,405 shares of the financial services provider’s stock valued at $7,494,000 after purchasing an additional 121,433 shares in the last quarter. Smith Asset Management Group LP bought a new position in United Community Banks in the second quarter valued at $1,163,000. Janus Henderson Group PLC grew its position in United Community Banks by 10.5% in the second quarter. Janus Henderson Group PLC now owns 1,839,743 shares of the financial services provider’s stock valued at $52,543,000 after purchasing an additional 175,070 shares in the last quarter. Wells Fargo & Company MN grew its position in United Community Banks by 2.5% in the second quarter. Wells Fargo & Company MN now owns 653,347 shares of the financial services provider’s stock valued at $18,660,000 after purchasing an additional 16,168 shares in the last quarter. Finally, Stone Ridge Asset Management LLC grew its position in United Community Banks by 9.0% in the second quarter. Stone Ridge Asset Management LLC now owns 21,702 shares of the financial services provider’s stock valued at $620,000 after purchasing an additional 1,800 shares in the last quarter. 92.26% of the stock is owned by institutional investors.

UCBI stock traded down $0.57 during trading hours on Thursday, reaching $27.65. The stock had a trading volume of 14,474 shares, compared to its average volume of 428,065. The stock has a market capitalization of $2.13 billion, a PE ratio of 12.94 and a beta of 1.28. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.85 and a quick ratio of 0.84. The stock has a 50-day simple moving average of $26.94 and a 200 day simple moving average of $27.11. United Community Banks, Inc. has a fifty-two week low of $20.23 and a fifty-two week high of $30.09.

United Community Banks (NASDAQ:UCBI) last announced its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.01. The firm had revenue of $142.32 million during the quarter, compared to analysts’ expectations of $142.30 million. United Community Banks had a net margin of 27.88% and a return on equity of 12.24%. During the same quarter last year, the company posted $0.53 earnings per share. On average, sell-side analysts forecast that United Community Banks, Inc. will post 2.3 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, October 5th. Stockholders of record on Sunday, September 15th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date is Thursday, September 12th. United Community Banks’s dividend payout ratio is presently 31.78%.

A number of research analysts recently weighed in on UCBI shares. ValuEngine downgraded shares of United Community Banks from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. SunTrust Banks cut their price target on shares of United Community Banks from $30.00 to $29.00 and set a “hold” rating for the company in a research note on Tuesday, August 27th. Zacks Investment Research cut shares of United Community Banks from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. BidaskClub cut shares of United Community Banks from a “buy” rating to a “hold” rating in a research note on Tuesday, July 9th. Finally, DA Davidson initiated coverage on shares of United Community Banks in a research note on Tuesday, August 20th. They issued a “neutral” rating for the company. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $29.40.

In other news, CAO Alan H. Kumler sold 3,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $27.06, for a total transaction of $81,180.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 4,684 shares of company stock valued at $130,150. 1.18% of the stock is currently owned by corporate insiders.

About United Community Banks

United Community Banks, Inc operates as the bank holding company for United Community Bank that provides retail and corporate banking services to individuals and businesses. It offers various deposit accounts, such as checking accounts, savings and time deposits accounts, NOW accounts, money market deposits, and certificates of deposit.

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

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