Sei Investments Co. Has $14.05 Million Stock Holdings in United Community Banks, Inc. $UCB

Sei Investments Co. grew its position in shares of United Community Banks, Inc. (NYSE:UCB) by 10.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 446,292 shares of the company’s stock after buying an additional 40,782 shares during the period. Sei Investments Co.’s holdings in United Community Banks were worth $14,054,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in United Community Banks by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 14,514,731 shares of the company’s stock worth $453,150,000 after purchasing an additional 120,156 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of United Community Banks by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,520,132 shares of the company’s stock worth $205,315,000 after purchasing an additional 182,397 shares in the last quarter. Invesco Ltd. grew its position in shares of United Community Banks by 7.4% during the 4th quarter. Invesco Ltd. now owns 1,805,308 shares of the company’s stock worth $56,362,000 after purchasing an additional 124,347 shares in the last quarter. Norges Bank bought a new position in shares of United Community Banks during the fourth quarter worth approximately $48,450,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of United Community Banks by 70.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,380,627 shares of the company’s stock worth $43,103,000 after purchasing an additional 571,296 shares during the period. 82.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at United Community Banks

In other news, EVP Richard Bradshaw sold 1,424 shares of the company’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $35.09, for a total transaction of $49,968.16. Following the completion of the transaction, the executive vice president directly owned 83,228 shares in the company, valued at approximately $2,920,470.52. This represents a 1.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jefferson L. Harralson sold 25,000 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $35.41, for a total value of $885,250.00. Following the completion of the transaction, the executive vice president owned 37,433 shares of the company’s stock, valued at $1,325,502.53. The trade was a 40.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.45% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

UCB has been the subject of several recent research reports. Stephens boosted their price target on United Community Banks from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. TD Cowen upgraded United Community Banks to a “strong-buy” rating in a research note on Thursday, July 16th. Hovde Group dropped their price objective on United Community Banks from $38.00 to $37.00 and set a “market perform” rating for the company in a report on Monday, April 27th. Keefe, Bruyette & Woods upgraded United Community Banks from a “market perform” rating to an “outperform” rating and upped their target price for the company from $36.00 to $40.00 in a research report on Thursday, April 9th. Finally, Piper Sandler reissued a “neutral” rating and set a $37.00 target price on shares of United Community Banks in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, United Community Banks has a consensus rating of “Moderate Buy” and an average target price of $38.80.

United Community Banks Stock Performance

United Community Banks stock opened at $35.34 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.22. The stock has a market cap of $4.23 billion, a PE ratio of 11.62 and a beta of 0.81. United Community Banks, Inc. has a 12-month low of $28.65 and a 12-month high of $37.18. The business’s 50-day moving average price is $34.46 and its two-hundred day moving average price is $33.57.

United Community Banks (NYSE:UCB) last released its quarterly earnings data on Tuesday, July 21st. The company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). The company had revenue of $279.28 million for the quarter. United Community Banks had a return on equity of 9.61% and a net margin of 24.43%. As a group, analysts expect that United Community Banks, Inc. will post 2.93 earnings per share for the current fiscal year.

United Community Banks Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 3rd. Shareholders of record on Monday, June 15th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, June 15th. United Community Banks’s payout ratio is presently 32.89%.

United Community Banks Company 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.