United Community Banks, Inc. $UCB Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lessened its holdings in United Community Banks, Inc. (NYSE:UCB) by 12.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 234,916 shares of the company’s stock after selling 32,342 shares during the quarter. ProShare Advisors LLC’s holdings in United Community Banks were worth $6,998,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Teacher Retirement System of Texas acquired a new stake in shares of United Community Banks in the first quarter valued at about $539,000. Bank of New York Mellon Corp purchased a new position in United Community Banks in the first quarter valued at about $34,780,000. Nisa Investment Advisors LLC acquired a new stake in shares of United Community Banks during the 1st quarter valued at approximately $705,000. Xponance Inc. boosted its stake in shares of United Community Banks by 5.8% during the 1st quarter. Xponance Inc. now owns 9,094 shares of the company’s stock worth $256,000 after acquiring an additional 500 shares in the last quarter. Finally, Arizona State Retirement System acquired a new stake in shares of United Community Banks in the 1st quarter worth approximately $963,000. Institutional investors and hedge funds own 82.29% of the company’s stock.

Insider Buying and Selling at United Community Banks

In related news, EVP Richard Bradshaw sold 1,654 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $30.23, for a total value of $50,000.42. Following the sale, the executive vice president directly owned 75,226 shares of the company’s stock, valued at approximately $2,274,081.98. This trade represents a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is currently owned by insiders.

United Community Banks Stock Performance

Shares of NYSE UCB opened at $30.10 on Thursday. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of 11.94 and a beta of 0.91. 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 1 year low of $22.93 and a 1 year high of $35.38. The stock’s 50 day moving average price is $31.05.

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

Wall Street Analysts Forecast Growth

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

About United Community Banks

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.