Rhumbline Advisers increased its stake in United Community Banks, Inc. (NASDAQ:UCBI) by 4.6% during the third quarter, HoldingsChannel.com reports. The firm owned 190,132 shares of the financial services provider’s stock after purchasing an additional 8,339 shares during the quarter. Rhumbline Advisers’ holdings in United Community Banks were worth $5,303,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in United Community Banks in the 2nd quarter worth $477,000. Segall Bryant & Hamill LLC raised its holdings in United Community Banks by 107.0% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 601,438 shares of the financial services provider’s stock worth $18,446,000 after purchasing an additional 310,954 shares during the period. Cubist Systematic Strategies LLC bought a new position in United Community Banks in the 2nd quarter worth $216,000. Raymond James & Associates raised its holdings in United Community Banks by 9.1% in the 2nd quarter. Raymond James & Associates now owns 23,845 shares of the financial services provider’s stock worth $731,000 after purchasing an additional 1,993 shares during the period. Finally, Metropolitan Life Insurance Co. NY raised its holdings in United Community Banks by 14.3% during the second quarter. Metropolitan Life Insurance Co. NY now owns 25,412 shares of the financial services provider’s stock valued at $779,000 after acquiring an additional 3,178 shares during the period. 87.16% of the stock is currently owned by institutional investors.
UCBI has been the topic of a number of recent analyst reports. Raymond James set a $28.00 price target on United Community Banks and gave the company a “buy” rating in a report on Thursday, October 25th. SunTrust Banks decreased their price target on United Community Banks to $25.00 and set a “hold” rating on the stock in a report on Thursday, October 25th. They noted that the move was a valuation call. ValuEngine cut United Community Banks from a “hold” rating to a “sell” rating in a report on Friday, September 28th. Zacks Investment Research raised United Community Banks from a “sell” rating to a “hold” rating in a report on Thursday, September 13th. Finally, FIG Partners reissued an “outperform” rating on shares of United Community Banks in a report on Thursday, September 20th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $28.40.
NASDAQ:UCBI opened at $23.91 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.42. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 11.89 and a beta of 0.93. United Community Banks, Inc. has a 52 week low of $22.83 and a 52 week high of $34.18.
United Community Banks (NASDAQ:UCBI) last posted its quarterly earnings results on Tuesday, October 23rd. The financial services provider reported $0.55 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.55. The business had revenue of $134.50 million for the quarter, compared to analysts’ expectations of $136.53 million. United Community Banks had a return on equity of 11.64% and a net margin of 19.16%. The business’s quarterly revenue was up 23.1% on a year-over-year basis. During the same period last year, the firm earned $0.41 earnings per share. As a group, analysts predict that United Community Banks, Inc. will post 2.13 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 7th. Stockholders of record on Saturday, December 15th will be given a dividend of $0.16 per share. This is a positive change from United Community Banks’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.68%. United Community Banks’s dividend payout ratio (DPR) is presently 36.81%.
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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