Verition Fund Management LLC Boosts Holdings in United Community Banks, Inc. (NASDAQ:UCBI)

Verition Fund Management LLC boosted its position in United Community Banks, Inc. (NASDAQ:UCBIGet Rating) by 43.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,653 shares of the financial services provider’s stock after buying an additional 11,973 shares during the period. Verition Fund Management LLC’s holdings in United Community Banks were worth $1,380,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. grew its position in United Community Banks by 19.1% in the 1st quarter. BlackRock Inc. now owns 15,623,173 shares of the financial services provider’s stock valued at $543,687,000 after buying an additional 2,505,834 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of United Community Banks by 9.6% during the 1st quarter. Vanguard Group Inc. now owns 11,753,740 shares of the financial services provider’s stock worth $409,029,000 after purchasing an additional 1,034,191 shares in the last quarter. State Street Corp boosted its position in shares of United Community Banks by 34.7% during the 1st quarter. State Street Corp now owns 6,258,337 shares of the financial services provider’s stock worth $218,903,000 after purchasing an additional 1,611,842 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of United Community Banks by 4.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,137,725 shares of the financial services provider’s stock worth $109,197,000 after purchasing an additional 133,074 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of United Community Banks by 13.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,777,724 shares of the financial services provider’s stock worth $99,831,000 after purchasing an additional 333,009 shares in the last quarter. 84.78% of the stock is currently owned by hedge funds and other institutional investors.

United Community Banks Price Performance

United Community Banks stock opened at $34.25 on Wednesday. United Community Banks, Inc. has a 52 week low of $27.85 and a 52 week high of $39.32. 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 firm’s 50-day simple moving average is $33.55 and its 200 day simple moving average is $32.54. The firm has a market capitalization of $3.63 billion, a PE ratio of 14.21 and a beta of 1.04.

United Community Banks (NASDAQ:UCBIGet Rating) last released its quarterly earnings data 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). United Community Banks had a return on equity of 11.27% and a net margin of 30.10%. The business had revenue of $212.36 million during the quarter, compared to analysts’ expectations of $213.19 million. During the same quarter in the prior year, the firm earned $0.79 earnings per share. United Community Banks’s quarterly revenue was up 21.9% on a year-over-year basis. On average, equities research analysts predict that United Community Banks, Inc. will post 2.65 EPS for the current fiscal year.

United Community Banks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Thursday, September 15th will be given a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This is a positive change from United Community Banks’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 2.57%. United Community Banks’s payout ratio is currently 36.51%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. StockNews.com upgraded shares of United Community Banks from a “sell” rating to a “hold” rating in a research report on Wednesday. Piper Sandler decreased their target price on shares of United Community Banks to $36.00 in a research report on Friday, July 22nd. Finally, Truist Financial decreased their target price on shares of United Community Banks from $34.00 to $32.00 in a research report on Wednesday, June 15th.

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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