SG Americas Securities LLC Sells 78,238 Shares of United Community Banks, Inc. (NASDAQ:UCBI)

Posted by MarketBeat News on Aug 4th, 2022

SG Americas Securities LLC cut its position in United Community Banks, Inc. (NASDAQ:UCBI – Get Rating) by 82.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,527 shares of the financial services provider’s stock after selling 78,238 shares during the quarter. SG Americas Securities LLC’s holdings in United Community Banks were worth $575,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in UCBI. Geode Capital Management LLC lifted its holdings 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 stake in United Community Banks by 199.1% in the fourth 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 in the last quarter. Schroder Investment Management Group raised its stake in United Community Banks by 13.2% in 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 purchasing an additional 279,544 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in United Community Banks by 10.6% in the fourth 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 in the last quarter. Finally, State Street Corp grew its position in United Community Banks by 9.3% in 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 acquiring an additional 395,719 shares during the last quarter. 79.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

UCBI has been the topic of a number of recent analyst reports. Truist Financial decreased their target price on United Community Banks from $34.00 to $32.00 in a research report on Wednesday, June 15th. Piper Sandler reduced their price objective on United Community Banks to $36.00 in a research note on Friday, July 22nd. Raymond James cut United Community Banks from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 6th. Finally, StockNews.com cut United Community Banks from a “hold” rating to a “sell” rating in a report on Friday, July 29th.

United Community Banks Price Performance

NASDAQ:UCBI opened at $34.23 on Thursday. United Community Banks, Inc. has a 12 month low of $27.62 and a 12 month high of $39.32. 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 50-day moving average is $31.11 and its 200 day moving average is $33.21. The company has a market capitalization of $3.63 billion, a P/E ratio of 14.20 and a beta of 1.05.

United Community Banks (NASDAQ:UCBI – Get Rating) last issued its earnings results on Tuesday, July 19th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.03). United Community Banks had a return on equity of 11.27% and a net margin of 30.10%. The firm had revenue of $212.36 million during the quarter, compared to analysts’ expectations of $213.19 million. During the same quarter last year, the business earned $0.79 EPS. The business’s revenue was up 21.9% on a year-over-year basis. On average, equities research analysts forecast that United Community Banks, Inc. will post 2.65 earnings per share for the current fiscal year.

United Community Banks Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 5th. Investors of record on Wednesday, June 15th were given a $0.21 dividend. The ex-dividend date was Tuesday, June 14th. This represents a $0.84 dividend on an annualized basis and a yield of 2.45%. United Community Banks’s dividend payout ratio (DPR) is presently 34.85%.

United Community Banks 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.