Keel Point LLC Decreases Position in United Community Banks, Inc. (NASDAQ:UCBI)

Keel Point LLC trimmed its holdings in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 43.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,802 shares of the financial services provider’s stock after selling 26,860 shares during the quarter. Keel Point LLC’s holdings in United Community Banks were worth $870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in UCBI. CI Investments Inc. purchased a new position in United Community Banks in the 4th quarter worth $26,000. Beacon Capital Management LLC purchased a new position in United Community Banks in the second quarter valued at $26,000. Eagle Bay Advisors LLC raised its position in shares of United Community Banks by 97.5% in the second quarter. Eagle Bay Advisors LLC now owns 960 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 474 shares during the period. Belpointe Asset Management LLC grew its position in shares of United Community Banks by 113.1% during the 1st quarter. Belpointe Asset Management LLC now owns 1,385 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 735 shares during the period. Finally, Money Concepts Capital Corp acquired a new position in United Community Banks in the 4th quarter worth about $105,000. 80.99% of the stock is currently owned by hedge funds and other institutional investors.

United Community Banks Trading Up 0.2 %

Shares of NASDAQ UCBI traded up $0.04 during mid-day trading on Tuesday, reaching $25.69. 151,434 shares of the company’s stock were exchanged, compared to its average volume of 642,442. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of 10.14 and a beta of 1.01. United Community Banks, Inc. has a 52-week low of $20.37 and a 52-week high of $39.50. The company’s 50-day moving average is $27.64 and its 200-day moving average is $26.44. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.79 and a current ratio of 0.79.

United Community Banks (NASDAQ:UCBI) last issued its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.55 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.08). United Community Banks had a return on equity of 10.79% and a net margin of 24.81%. The company had revenue of $332.16 million during the quarter, compared to analyst estimates of $240.15 million. During the same quarter in the prior year, the company posted $0.66 earnings per share. Analysts expect that United Community Banks, Inc. will post 2.23 EPS for the current fiscal year.

United Community Banks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Friday, September 15th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend is Thursday, September 14th. United Community Banks’s dividend payout ratio is currently 36.36%.

Analysts Set New Price Targets

UCBI has been the topic of several research analyst reports. Truist Financial raised their price objective on United Community Banks from $27.00 to $30.00 and gave the company a “hold” rating in a report on Thursday, July 20th. Stephens lifted their price target on United Community Banks from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, July 20th. StockNews.com upgraded United Community Banks to a “sell” rating in a report on Monday, August 28th. Keefe, Bruyette & Woods lowered shares of United Community Banks from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $33.00 to $30.00 in a report on Thursday, July 20th. Finally, DA Davidson decreased their price target on shares of United Community Banks from $31.50 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, September 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $30.80.

United Community Banks Profile

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. It accepts various deposit products, including checking, savings, money market, and other deposit accounts.