State of New Jersey Common Pension Fund D Sells 10,496 Shares of United Community Banks, Inc. (NASDAQ:UCBI)

State of New Jersey Common Pension Fund D decreased its holdings in shares of United Community Banks, Inc. (NASDAQ:UCBIGet Rating) by 13.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,392 shares of the financial services provider’s stock after selling 10,496 shares during the period. State of New Jersey Common Pension Fund D owned 0.06% of United Community Banks worth $2,345,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC raised its position in United Community Banks by 11.7% during the 4th quarter. Geode Capital Management LLC now owns 1,763,792 shares of the financial services provider’s stock valued at $63,391,000 after purchasing an additional 185,209 shares during the last quarter. Los Angeles Capital Management LLC raised its position in United Community Banks by 199.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 34,341 shares of the financial services provider’s stock valued at $1,234,000 after purchasing an additional 22,860 shares during the last quarter. Schroder Investment Management Group raised its position in United Community Banks by 13.2% during the 4th quarter. Schroder Investment Management Group now owns 2,391,301 shares of the financial services provider’s stock valued at $85,943,000 after purchasing an additional 279,544 shares during the last quarter. Nisa Investment Advisors LLC raised its position in United Community Banks by 10.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 23,663 shares of the financial services provider’s stock valued at $837,000 after purchasing an additional 2,263 shares during the last quarter. Finally, State Street Corp raised its position in United Community Banks by 9.3% during the 4th quarter. State Street Corp now owns 4,646,495 shares of the financial services provider’s stock valued at $167,848,000 after purchasing an additional 395,719 shares during the last quarter. Institutional investors own 79.51% of the company’s stock.

United Community Banks Stock Performance

United Community Banks stock opened at $33.83 on Wednesday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $3.59 billion, a P/E ratio of 14.04 and a beta of 1.05. The stock’s 50 day moving average is $31.04 and its 200 day moving average is $33.21. United Community Banks, Inc. has a twelve month low of $27.62 and a twelve month high of $39.32.

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

United Community Banks Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 5th. Shareholders of record on Wednesday, June 15th were paid a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, June 14th. This represents a $0.84 dividend on an annualized basis and a yield of 2.48%. United Community Banks’s payout ratio is presently 34.85%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on UCBI shares. Truist Financial reduced their target price on United Community Banks from $34.00 to $32.00 in a report on Wednesday, June 15th. Piper Sandler reduced their target price on United Community Banks to $36.00 in a report on Friday, July 22nd. StockNews.com downgraded United Community Banks from a “hold” rating to a “sell” rating in a report on Friday, July 29th. Finally, Raymond James downgraded United Community Banks from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 6th.

United Community Banks Company Profile

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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.

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

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