California State Teachers Retirement System increased its holdings in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 1.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,779 shares of the financial services provider’s stock after buying an additional 1,467 shares during the quarter. California State Teachers Retirement System’s holdings in United Community Banks were worth $3,481,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of UCBI. Advisory Services Network LLC purchased a new position in shares of United Community Banks during the second quarter valued at $25,000. First Mercantile Trust Co. purchased a new position in shares of United Community Banks during the second quarter valued at $54,000. Strs Ohio purchased a new position in shares of United Community Banks during the second quarter valued at $65,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of United Community Banks by 20.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,837 shares of the financial services provider’s stock valued at $137,000 after buying an additional 805 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. purchased a new position in shares of United Community Banks during the first quarter valued at $165,000. Institutional investors and hedge funds own 90.86% of the company’s stock.
A number of research analysts have recently weighed in on the company. DA Davidson assumed coverage on United Community Banks in a report on Tuesday, August 20th. They set a “neutral” rating on the stock. SunTrust Banks reduced their price objective on United Community Banks from $30.00 to $29.00 and set a “hold” rating for the company in a research report on Tuesday, August 27th. Zacks Investment Research raised United Community Banks from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Friday, December 6th. ValuEngine cut United Community Banks from a “hold” rating to a “sell” rating in a research report on Tuesday, October 15th. Finally, Stephens reissued a “hold” rating and set a $29.00 price objective on shares of United Community Banks in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. United Community Banks has a consensus rating of “Hold” and a consensus target price of $31.00.
UCBI opened at $30.68 on Thursday. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 14.34 and a beta of 1.28. United Community Banks, Inc. has a 1 year low of $20.23 and a 1 year high of $31.66. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.17. The stock has a fifty day moving average price of $30.88 and a 200 day moving average price of $28.37.
United Community Banks (NASDAQ:UCBI) last released its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The firm had revenue of $148.37 million during the quarter, compared to analysts’ expectations of $143.91 million. United Community Banks had a return on equity of 12.24% and a net margin of 27.87%. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.55 earnings per share. As a group, sell-side analysts forecast that United Community Banks, Inc. will post 2.36 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Monday, December 16th will be given a dividend of $0.18 per share. This is a boost from United Community Banks’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a yield of 2.35%. United Community Banks’s dividend payout ratio (DPR) is presently 31.78%.
United Community Banks Company Profile
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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