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

Arizona State Retirement System decreased its stake in United Community Banks, Inc. (NASDAQ:UCBI) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,225 shares of the financial services provider’s stock after selling 559 shares during the quarter. Arizona State Retirement System’s holdings in United Community Banks were worth $972,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of UCBI. Advisor Group Holdings Inc. grew its position in shares of United Community Banks by 6.8% in the first 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. Raymond James Financial Services Advisors Inc. acquired a new position in United Community Banks during the first quarter worth about $373,000. Cetera Advisor Networks LLC acquired a new position in United Community Banks during the first quarter worth about $210,000. Citigroup Inc. boosted its position in United Community Banks by 23.0% during the first quarter. Citigroup Inc. now owns 94,139 shares of the financial services provider’s stock worth $3,276,000 after acquiring an additional 17,608 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in United Community Banks by 21.0% during the first quarter. PNC Financial Services Group Inc. now owns 17,403 shares of the financial services provider’s stock worth $606,000 after acquiring an additional 3,025 shares during the last quarter. Institutional investors and hedge funds own 82.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. TheStreet lowered shares of United Community Banks from a “b” rating to a “c+” rating in a research report on Wednesday, January 24th. Truist Financial lowered their price target on shares of United Community Banks from $31.00 to $28.00 and set a “hold” rating on the stock in a research report on Monday, April 1st. DA Davidson reiterated a “buy” rating on shares of United Community Banks in a report on Monday, January 15th. Piper Sandler raised their price target on shares of United Community Banks from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Finally, StockNews.com raised shares of United Community Banks to a “sell” rating in a research report on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, United Community Banks presently has an average rating of “Hold” and a consensus target price of $31.00.

United Community Banks Trading Down 1.4 %

Shares of United Community Banks stock opened at $24.54 on Wednesday. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of 15.83 and a beta of 0.94. United Community Banks, Inc. has a fifty-two week low of $20.37 and a fifty-two week high of $30.75. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50 day moving average of $25.85 and a 200 day moving average of $26.22.

United Community Banks (NASDAQ:UCBI) last issued its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.01. The company had revenue of $165.70 million during the quarter, compared to analyst estimates of $226.07 million. United Community Banks had a return on equity of 8.32% and a net margin of 14.29%. The firm’s revenue for the quarter was down 25.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.75 earnings per share. As a group, research analysts predict that United Community Banks, Inc. will post 2.19 earnings per share for the current year.

United Community Banks Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a dividend of $0.23 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.92 annualized dividend and a dividend yield of 3.75%. United Community Banks’s dividend payout ratio is currently 59.36%.

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.