United Community Banks, Inc. $UCB Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. trimmed its holdings in shares of United Community Banks, Inc. (NYSE:UCB) by 5.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,626 shares of the company’s stock after selling 421 shares during the quarter. QRG Capital Management Inc.’s holdings in United Community Banks were worth $227,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in UCB. Quarry LP acquired a new position in shares of United Community Banks during the 1st quarter worth approximately $26,000. CWM LLC acquired a new position in shares of United Community Banks during the 1st quarter worth approximately $62,000. Geneos Wealth Management Inc. acquired a new position in shares of United Community Banks during the 1st quarter worth approximately $67,000. Smartleaf Asset Management LLC acquired a new position in United Community Banks in the 1st quarter valued at $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 purchasing an additional 344 shares during the last quarter. 82.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on UCB shares. Hovde Group increased their price objective on United Community Banks from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. DA Davidson increased their price objective on United Community Banks from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Raymond James Financial downgraded United Community Banks from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods increased their price objective on United Community Banks from $32.00 to $34.00 and gave the company a “market perform” rating in a research note on Monday, July 28th. 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 research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $34.57.

United Community Banks Stock Down 4.7%

Shares of NYSE:UCB opened at $30.51 on Monday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.04. The company has a fifty day moving average of $31.79. The stock has a market cap of $3.71 billion, a PE ratio of 13.87 and a beta of 0.83. United Community Banks, Inc. has a 52-week low of $22.93 and a 52-week high of $35.38.

United Community Banks (NYSE:UCB) last issued its earnings results on Wednesday, July 23rd. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.05. The company had revenue of $260.24 million during the quarter. United Community Banks had a return on equity of 8.91% and a net margin of 17.93%.The business’s quarterly revenue was up 6.1% on a year-over-year basis.

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 issued a dividend of $0.25 per share. The ex-dividend date was Monday, September 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.3%. This is a boost from United Community Banks’s previous quarterly dividend of $0.24. United Community Banks’s dividend payout ratio (DPR) is currently 45.45%.

Insider Buying and Selling at United Community Banks

In other news, EVP Richard Bradshaw sold 1,616 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $30.94, for a total transaction of $49,999.04. Following the completion of the transaction, the executive vice president directly owned 78,395 shares in the company, valued at approximately $2,425,541.30. This represents a 2.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

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.