Private Advisor Group LLC Takes Position in United Community Banks, Inc. (NASDAQ:UCBI)

Private Advisor Group LLC bought a new stake in United Community Banks, Inc. (NASDAQ:UCBI) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 6,954 shares of the financial services provider’s stock, valued at approximately $203,000.

Several other large investors also recently made changes to their positions in UCBI. Illinois Municipal Retirement Fund acquired a new stake in United Community Banks in the third quarter valued at approximately $1,745,000. Arizona State Retirement System increased its stake in United Community Banks by 4.5% during the 3rd quarter. Arizona State Retirement System now owns 33,784 shares of the financial services provider’s stock valued at $858,000 after purchasing an additional 1,443 shares in the last quarter. New York State Common Retirement Fund raised its holdings in United Community Banks by 9.2% during the third quarter. New York State Common Retirement Fund now owns 69,076 shares of the financial services provider’s stock worth $1,755,000 after buying an additional 5,806 shares during the last quarter. Great Lakes Advisors LLC lifted its stake in shares of United Community Banks by 12.2% in the third quarter. Great Lakes Advisors LLC now owns 171,660 shares of the financial services provider’s stock valued at $4,362,000 after buying an additional 18,622 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its holdings in shares of United Community Banks by 15.4% during the third quarter. Oppenheimer Asset Management Inc. now owns 51,608 shares of the financial services provider’s stock valued at $1,311,000 after buying an additional 6,889 shares during the last quarter. 82.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Truist Financial dropped 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. Piper Sandler dropped their target price 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 equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $30.60.

United Community Banks Price Performance

United Community Banks stock opened at $25.57 on Friday. The stock has a market cap of $3.05 billion, a P/E ratio of 16.60 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. The company’s 50 day moving average price is $25.73 and its two-hundred day moving average price is $26.61. United Community Banks, Inc. has a 52 week low of $21.63 and a 52 week high of $30.75.

United Community Banks (NASDAQ:UCBI) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.02. The business had revenue of $225.80 million for the quarter, compared to analysts’ expectations of $232.00 million. United Community Banks had a return on equity of 8.02% and a net margin of 13.62%. The business’s revenue was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.58 earnings per share. On average, equities analysts predict that United Community Banks, Inc. will post 2.12 earnings per share for the current year.

United Community Banks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Saturday, June 15th will be given a dividend of $0.23 per share. The ex-dividend date is Friday, June 14th. This represents a $0.92 annualized dividend and a yield of 3.60%. United Community Banks’s payout ratio is currently 59.74%.

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.