Oppenheimer Asset Management Inc. Buys 3,630 Shares of United Community Banks, Inc. $UCB

Oppenheimer Asset Management Inc. increased its stake in United Community Banks, Inc. (NYSE:UCB) by 6.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 60,446 shares of the company’s stock after purchasing an additional 3,630 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in United Community Banks were worth $1,801,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of UCB. Quarry LP purchased a new stake in United Community Banks in the first quarter worth $26,000. CWM LLC bought a new position in shares of United Community Banks during the 1st quarter worth $62,000. Geneos Wealth Management Inc. purchased a new stake in United Community Banks in the 1st quarter worth about $67,000. Smartleaf Asset Management LLC bought a new stake in United Community Banks in the 1st quarter valued at about $89,000. Finally, State of Wyoming raised its stake in United Community Banks by 9.4% in the 1st quarter. State of Wyoming now owns 4,010 shares of the company’s stock valued at $113,000 after acquiring an additional 344 shares during the period. Hedge funds and other institutional investors own 82.29% of the company’s stock.

United Community Banks Price Performance

Shares of NYSE:UCB opened at $29.20 on Friday. The firm has a fifty day moving average price of $31.69. The company has a market cap of $3.55 billion, a P/E ratio of 11.59 and a beta of 0.83. 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 one year low of $22.93 and a one year high of $35.38.

United Community Banks (NYSE:UCB) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported $0.75 earnings per share (EPS) 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 the consensus estimate of $270.85 million. United Community Banks had a return on equity of 9.42% and a net margin of 20.67%.The firm’s revenue was up 27.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 earnings per share.

United Community Banks Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Monday, September 15th were given a dividend of $0.25 per share. This is a boost from United Community Banks’s previous quarterly dividend of $0.24. The ex-dividend date was Monday, September 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.4%. United Community Banks’s dividend payout ratio is 39.68%.

Insider Activity at United Community Banks

In other news, EVP Richard Bradshaw sold 1,654 shares of the business’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $30.23, for a total transaction of $50,000.42. Following the completion of the transaction, the executive vice president owned 75,226 shares of the company’s stock, valued at approximately $2,274,081.98. The trade was a 2.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wall Street Zen upgraded shares of United Community Banks from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Raymond James Financial downgraded shares of United Community Banks from a “moderate buy” rating to a “hold” rating in a report on Tuesday, July 8th. DA Davidson lifted their price objective on shares of United Community Banks from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Weiss Ratings restated a “hold (c+)” rating on shares of United Community Banks in a research report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods raised their price target on United Community Banks from $32.00 to $34.00 and gave the stock a “market perform” rating in a report on Monday, July 28th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $35.33.

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