Victory Capital Management Inc. Boosts Position in United Community Banks, Inc. (NASDAQ:UCBI)

Victory Capital Management Inc. grew its holdings in shares of United Community Banks, Inc. (NASDAQ:UCBIGet Rating) by 4.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,048,908 shares of the financial services provider’s stock after buying an additional 43,201 shares during the period. Victory Capital Management Inc. owned 0.99% of United Community Banks worth $36,391,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. State Street Corp increased its stake in shares of United Community Banks by 9.3% during the fourth quarter. State Street Corp now owns 4,646,495 shares of the financial services provider’s stock valued at $167,848,000 after buying an additional 395,719 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of United Community Banks by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,004,651 shares of the financial services provider’s stock valued at $107,985,000 after buying an additional 47,621 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of United Community Banks by 13.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,777,724 shares of the financial services provider’s stock valued at $99,831,000 after buying an additional 333,009 shares during the period. Schroder Investment Management Group increased its stake in shares of United Community Banks by 13.2% during the fourth quarter. Schroder Investment Management Group now owns 2,391,301 shares of the financial services provider’s stock valued at $85,943,000 after buying an additional 279,544 shares during the period. Finally, Snyder Capital Management L P boosted its position in shares of United Community Banks by 0.3% during the fourth quarter. Snyder Capital Management L P now owns 1,820,470 shares of the financial services provider’s stock valued at $65,428,000 after purchasing an additional 5,786 shares in the last quarter. 79.51% of the stock is owned by hedge funds and other institutional investors.

United Community Banks Trading Down 0.1 %

United Community Banks stock opened at $34.00 on Tuesday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.13. The business’s fifty day simple moving average is $30.97 and its two-hundred day simple moving average is $33.20. United Community Banks, Inc. has a 12 month low of $27.62 and a 12 month high of $39.32. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of 14.11 and a beta of 1.05.

United Community Banks (NASDAQ:UCBIGet Rating) last released its earnings results on Tuesday, July 19th. The financial services provider reported $0.66 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.03). The company had revenue of $212.36 million during the quarter, compared to the consensus estimate of $213.19 million. United Community Banks had a return on equity of 11.27% and a net margin of 30.10%. The company’s revenue was up 21.9% compared to the same quarter last year. During the same period last year, the firm posted $0.79 earnings per share. As a group, equities analysts predict that United Community Banks, Inc. will post 2.65 earnings per share for the current fiscal year.

United Community Banks Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 5th. Investors of record on Wednesday, June 15th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date was Tuesday, June 14th. United Community Banks’s dividend payout ratio (DPR) is presently 34.85%.

Analysts Set New Price Targets

Several research firms recently weighed in on UCBI. StockNews.com lowered United Community Banks from a “hold” rating to a “sell” rating in a research report on Friday. Piper Sandler dropped their price target on United Community Banks to $36.00 in a research report on Friday, July 22nd. Raymond James lowered United Community Banks from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 6th. Finally, Truist Financial dropped their price target on United Community Banks from $34.00 to $32.00 in a research report on Wednesday, June 15th.

About United Community Banks

(Get Rating)

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.

Further Reading

Institutional Ownership by Quarter for United Community Banks (NASDAQ:UCBI)

Want More Great Investing Ideas?

Receive News & Ratings for United Community Banks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Community Banks and related companies with MarketBeat.com's FREE daily email newsletter.