Peregrine Capital Management LLC acquired a new stake in shares of United Community Banks, Inc. (NASDAQ:UCBI) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 234,102 shares of the financial services provider’s stock, valued at approximately $4,710,000. Peregrine Capital Management LLC owned about 0.30% of United Community Banks at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Engineers Gate Manager LP bought a new position in United Community Banks in the first quarter valued at about $400,000. Deutsche Bank AG lifted its holdings in United Community Banks by 445.3% in the first quarter. Deutsche Bank AG now owns 269,852 shares of the financial services provider’s stock valued at $4,941,000 after acquiring an additional 220,362 shares during the period. Invesco Ltd. lifted its holdings in United Community Banks by 3.0% in the first quarter. Invesco Ltd. now owns 788,920 shares of the financial services provider’s stock valued at $14,446,000 after acquiring an additional 22,677 shares during the period. Two Sigma Advisers LP lifted its holdings in United Community Banks by 25.4% in the first quarter. Two Sigma Advisers LP now owns 44,400 shares of the financial services provider’s stock valued at $813,000 after acquiring an additional 9,000 shares during the period. Finally, Texas Permanent School Fund lifted its holdings in United Community Banks by 24.5% in the first quarter. Texas Permanent School Fund now owns 67,236 shares of the financial services provider’s stock valued at $1,231,000 after acquiring an additional 13,212 shares during the period. 89.70% of the stock is currently owned by institutional investors.
A number of research analysts have weighed in on the company. SunTrust Banks lowered their target price on United Community Banks from $23.00 to $20.00 in a report on Wednesday, May 27th. Zacks Investment Research downgraded United Community Banks from a “strong-buy” rating to a “hold” rating in a report on Saturday, July 4th. Raymond James reissued a “hold” rating on shares of United Community Banks in a report on Friday. ValuEngine raised United Community Banks from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, BidaskClub downgraded United Community Banks from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. United Community Banks has a consensus rating of “Hold” and a consensus price target of $25.70.
NASDAQ UCBI opened at $17.93 on Friday. The stock’s 50-day moving average price is $18.80 and its 200-day moving average price is $21.58. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. United Community Banks, Inc. has a 52 week low of $14.95 and a 52 week high of $31.66. The company has a market capitalization of $1.40 billion, a P/E ratio of 9.29 and a beta of 1.37.
United Community Banks (NASDAQ:UCBI) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. The company had revenue of $149.54 million for the quarter, compared to the consensus estimate of $141.00 million. United Community Banks had a return on equity of 9.58% and a net margin of 23.12%. Research analysts anticipate that United Community Banks, Inc. will post 1.64 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, June 15th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend was Friday, June 12th. United Community Banks’s dividend payout ratio (DPR) is presently 30.25%.
United Community Banks Profile
United Community Banks, Inc operates as the bank holding company for United Community Bank that provides retail and corporate banking services to individuals and businesses. It offers various deposit accounts, such as checking accounts, savings and time deposits accounts, NOW accounts, money market deposits, and certificates of deposit.
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