US Bancorp DE Sells 4,685 Shares of United Community Banks, Inc. (NASDAQ:UCBI)

US Bancorp DE lowered its stake in United Community Banks, Inc. (NASDAQ:UCBIGet Rating) by 16.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 23,750 shares of the financial services provider’s stock after selling 4,685 shares during the quarter. US Bancorp DE’s holdings in United Community Banks were worth $786,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Eagle Bay Advisors LLC raised its stake in United Community Banks by 97.5% during the 2nd quarter. Eagle Bay Advisors LLC now owns 960 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 474 shares during the period. Assetmark Inc. raised its stake in United Community Banks by 139.1% during the 2nd quarter. Assetmark Inc. now owns 2,369 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 1,378 shares during the period. Moisand Fitzgerald Tamayo LLC bought a new stake in United Community Banks during the 2nd quarter valued at approximately $123,000. FinTrust Capital Advisors LLC raised its stake in United Community Banks by 12.8% during the 2nd quarter. FinTrust Capital Advisors LLC now owns 4,270 shares of the financial services provider’s stock valued at $137,000 after purchasing an additional 483 shares during the period. Finally, Advisor Group Holdings Inc. raised its stake in United Community Banks by 6.8% during the 1st quarter. Advisor Group Holdings Inc. now owns 5,498 shares of the financial services provider’s stock valued at $173,000 after purchasing an additional 351 shares during the period. Institutional investors own 85.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on UCBI. Piper Sandler decreased their target price on United Community Banks from $40.00 to $36.00 and set an “overweight” rating on the stock in a research note on Thursday. StockNews.com cut United Community Banks from a “hold” rating to a “sell” rating in a report on Friday, January 13th. Finally, Janney Montgomery Scott cut United Community Banks from a “buy” rating to a “neutral” rating in a report on Thursday.

United Community Banks Stock Performance

NASDAQ UCBI opened at $31.01 on Friday. The stock has a market capitalization of $3.29 billion, a PE ratio of 13.31 and a beta of 1.03. The business has a 50 day simple moving average of $35.37 and a two-hundred day simple moving average of $34.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.74 and a quick ratio of 0.73. United Community Banks, Inc. has a 1-year low of $27.85 and a 1-year high of $39.50.

United Community Banks (NASDAQ:UCBIGet Rating) last announced its earnings results on Tuesday, October 18th. The financial services provider reported $0.75 EPS for the quarter, hitting analysts’ consensus estimates of $0.75. The firm had revenue of $231.70 million during the quarter, compared to analysts’ expectations of $226.68 million. United Community Banks had a return on equity of 10.99% and a net margin of 28.92%. The company’s quarterly revenue was up 27.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.83 EPS. On average, research analysts predict that United Community Banks, Inc. will post 2.75 EPS for the current fiscal year.

United Community Banks Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 5th. Stockholders of record on Thursday, December 15th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend was Wednesday, December 14th. United Community Banks’s dividend payout ratio (DPR) is 37.77%.

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.

See Also

Want to see what other hedge funds are holding UCBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Community Banks, Inc. (NASDAQ:UCBIGet Rating).

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

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