Fisher Asset Management LLC Trims Holdings in United Community Banks, Inc. (NASDAQ:UCBI)

Fisher Asset Management LLC lessened its stake in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 20.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,034,096 shares of the financial services provider’s stock after selling 267,228 shares during the period. Fisher Asset Management LLC owned 0.87% of United Community Banks worth $30,258,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of UCBI. Carmel Capital Partners LLC purchased a new stake in shares of United Community Banks in the 3rd quarter valued at approximately $36,000. GAMMA Investing LLC purchased a new position in United Community Banks in the fourth quarter worth approximately $72,000. SG Americas Securities LLC acquired a new stake in United Community Banks during the fourth quarter worth $115,000. Strs Ohio raised its position in United Community Banks by 17.6% in the fourth quarter. Strs Ohio now owns 6,000 shares of the financial services provider’s stock valued at $175,000 after purchasing an additional 900 shares during the period. Finally, Xponance Inc. purchased a new stake in United Community Banks in the fourth quarter valued at $205,000. Hedge funds and other institutional investors own 82.29% of the company’s stock.

United Community Banks Stock Performance

Shares of UCBI stock opened at $26.32 on Friday. The firm has a 50 day moving average of $25.49 and a two-hundred day moving average of $26.23. The stock has a market capitalization of $3.13 billion, a PE ratio of 17.09 and a beta of 0.92. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10. United Community Banks, Inc. has a 52 week low of $20.37 and a 52 week high of $30.75.

United Community Banks (NASDAQ:UCBI) last released its earnings results on Wednesday, April 24th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. United Community Banks had a return on equity of 8.02% and a net margin of 13.62%. The firm had revenue of $225.80 million during the quarter, compared to analyst estimates of $232.00 million. During the same period last year, the business posted $0.58 earnings per share. United Community Banks’s revenue was down 6.6% compared to the same quarter last year. On average, research analysts predict that United Community Banks, Inc. will post 2.12 EPS for the current fiscal year.

United Community Banks Announces Dividend

The business also recently disclosed 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. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend was Thursday, March 14th. United Community Banks’s dividend payout ratio is presently 59.74%.

Analyst Upgrades and Downgrades

UCBI has been the topic of several research analyst reports. StockNews.com upgraded shares of United Community Banks to a “sell” rating in a report on Wednesday, January 17th. Truist Financial lowered their price objective on shares of United Community Banks from $31.00 to $28.00 and set a “hold” rating for the company in a research report on Monday, April 1st. DA Davidson reissued a “buy” rating on shares of United Community Banks in a research report on Monday, January 15th. TheStreet lowered United Community Banks from a “b” rating to a “c+” rating in a research report on Wednesday, January 24th. Finally, Piper Sandler cut their price objective on United Community Banks from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $30.60.

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.