United Community Banks, Inc. $UCB Position Cut by Intech Investment Management LLC

Intech Investment Management LLC trimmed its stake in United Community Banks, Inc. (NYSE:UCB) by 22.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 76,696 shares of the company’s stock after selling 22,841 shares during the quarter. Intech Investment Management LLC owned approximately 0.06% of United Community Banks worth $2,394,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd lifted its stake in United Community Banks by 196.1% in the fourth quarter. Covestor Ltd now owns 992 shares of the company’s stock valued at $31,000 after buying an additional 657 shares during the last quarter. Torren Management LLC acquired a new position in United Community Banks during the 4th quarter valued at about $39,000. First Horizon Corp boosted its stake in United Community Banks by 51.7% during the 4th quarter. First Horizon Corp now owns 1,315 shares of the company’s stock valued at $41,000 after purchasing an additional 448 shares during the period. EverSource Wealth Advisors LLC boosted its stake in United Community Banks by 130.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,951 shares of the company’s stock valued at $58,000 after purchasing an additional 1,106 shares during the period. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in United Community Banks during the 4th quarter valued at about $62,000. 82.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Weiss Ratings raised shares of United Community Banks from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, March 3rd. Stephens boosted their target price on shares of United Community Banks from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Keefe, Bruyette & Woods raised shares of United Community Banks from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $36.00 to $40.00 in a research note on Thursday, April 9th. Hovde Group reduced their target price on shares of United Community Banks from $38.00 to $37.00 and set a “market perform” rating for the company in a research note on Monday, April 27th. Finally, Piper Sandler boosted their target price on shares of United Community Banks from $35.00 to $36.00 and gave the company a “neutral” rating in a research note on Wednesday, April 22nd. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, United Community Banks presently has an average rating of “Moderate Buy” and a consensus target price of $38.40.

Insider Buying and Selling at United Community Banks

In other news, EVP Richard Bradshaw sold 1,510 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $33.09, for a total value of $49,965.90. Following the completion of the sale, the executive vice president directly owned 84,497 shares of the company’s stock, valued at approximately $2,796,005.73. This represents a 1.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.45% of the company’s stock.

United Community Banks Trading Down 1.9%

Shares of NYSE:UCB opened at $32.24 on Thursday. The company has a 50 day moving average of $32.90 and a 200-day moving average of $32.63. The firm has a market cap of $3.86 billion, a P/E ratio of 11.85 and a beta of 0.82. United Community Banks, Inc. has a twelve month low of $27.23 and a twelve month high of $36.77. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.03.

United Community Banks (NYSE:UCB) last issued its quarterly earnings results on Tuesday, April 21st. The company reported $0.70 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.70. The company had revenue of $278.27 million during the quarter. United Community Banks had a net margin of 22.05% and a return on equity of 9.65%. The company’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.58 earnings per share. As a group, analysts anticipate that United Community Banks, Inc. will post 2.99 earnings per share for the current fiscal year.

United Community Banks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 3rd. Stockholders of record on Monday, June 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, June 15th. United Community Banks’s dividend payout ratio is currently 36.76%.

United Community Banks Profile

United Community Banks, Inc (NYSE: UCB) is a bank holding company headquartered in Blairsville, Georgia. It operates primarily through its subsidiary, United Community Bank, providing a broad range of banking and financial services to individual, business and governmental customers. The company’s core offerings include deposit accounts, commercial and consumer lending, mortgage origination, treasury and cash management services, and wealth management.

In addition to traditional banking products such as checking, savings and money market accounts, United Community Bank specializes in commercial real estate financing, small business administration (SBA) loans, equipment financing and agricultural lending.