United Community Banks, Inc. (NASDAQ:UCBI) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System grew its holdings in United Community Banks, Inc. (NASDAQ:UCBIGet Rating) by 22.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 28,547 shares of the financial services provider’s stock after acquiring an additional 5,231 shares during the quarter. Arizona State Retirement System’s holdings in United Community Banks were worth $993,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Advisor Group Holdings Inc. boosted its holdings in United Community Banks by 7.6% in the fourth quarter. Advisor Group Holdings Inc. now owns 5,147 shares of the financial services provider’s stock worth $186,000 after acquiring an additional 364 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in United Community Banks by 54.0% in the fourth quarter. Lazard Asset Management LLC now owns 1,605 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 563 shares in the last quarter. Mutual of America Capital Management LLC boosted its holdings in United Community Banks by 5.3% in the first quarter. Mutual of America Capital Management LLC now owns 15,101 shares of the financial services provider’s stock worth $526,000 after acquiring an additional 761 shares in the last quarter. Family Legacy Inc. raised its stake in shares of United Community Banks by 3.1% in the first quarter. Family Legacy Inc. now owns 27,221 shares of the financial services provider’s stock worth $947,000 after purchasing an additional 807 shares during the last quarter. Finally, Truist Financial Corp raised its stake in shares of United Community Banks by 8.6% in the first quarter. Truist Financial Corp now owns 10,886 shares of the financial services provider’s stock worth $379,000 after purchasing an additional 861 shares during the last quarter. Institutional investors and hedge funds own 79.51% of the company’s stock.

United Community Banks Stock Down 0.5 %

Shares of UCBI stock opened at $33.83 on Wednesday. The stock has a 50 day moving average of $31.04 and a 200 day moving average of $33.21. 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 stock has a market cap of $3.59 billion, a P/E ratio of 14.04 and a beta of 1.05. 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 posted its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.03). The business had revenue of $212.36 million during the quarter, compared to analysts’ expectations of $213.19 million. United Community Banks had a net margin of 30.10% and a return on equity of 11.27%. The firm’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.79 earnings per share. As a group, sell-side analysts expect that United Community Banks, Inc. will post 2.65 EPS for the current year.

United Community Banks Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 5th. Shareholders of record on Wednesday, June 15th were given 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 dividend payout ratio is currently 34.85%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on UCBI shares. Truist Financial reduced their price objective on United Community Banks from $34.00 to $32.00 in a research note on Wednesday, June 15th. StockNews.com cut United Community Banks from a “hold” rating to a “sell” rating in a research note on Friday, July 29th. Raymond James cut United Community Banks from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 6th. Finally, Piper Sandler reduced their price objective on United Community Banks to $36.00 in a research note on Friday, July 22nd.

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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