UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $7.52 Million Stock Position in United Community Banks, Inc. $UCB

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in shares of United Community Banks, Inc. (NYSE:UCB) by 10.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 214,390 shares of the company’s stock after selling 26,195 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in United Community Banks were worth $7,523,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new stake in United Community Banks during the fourth quarter worth about $29,000. Covestor Ltd raised its stake in shares of United Community Banks by 196.1% in the fourth quarter. Covestor Ltd now owns 992 shares of the company’s stock valued at $31,000 after acquiring an additional 657 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of United Community Banks in the 4th quarter worth approximately $42,000. Public Employees Retirement System of Ohio acquired a new position in shares of United Community Banks in the 2nd quarter worth approximately $54,000. Finally, EverSource Wealth Advisors LLC grew its position in United Community Banks by 130.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,951 shares of the company’s stock worth $58,000 after acquiring an additional 1,106 shares during the last quarter. 82.29% of the stock is currently owned by institutional investors and hedge funds.

United Community Banks Stock Performance

Shares of United Community Banks stock opened at $35.64 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market cap of $4.30 billion, a P/E ratio of 11.72 and a beta of 0.81. The firm has a 50 day simple moving average of $35.60 and a 200 day simple moving average of $33.78. United Community Banks, Inc. has a fifty-two week low of $28.65 and a fifty-two week high of $37.18.

United Community Banks (NYSE:UCB) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.09). United Community Banks had a return on equity of 9.61% and a net margin of 24.43%.The company had revenue of $279.28 million during the quarter. Sell-side analysts predict that United Community Banks, Inc. will post 2.94 earnings per share for the current fiscal year.

United Community Banks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.26 per share. The ex-dividend date is Tuesday, September 15th. This is an increase from United Community Banks’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.9%. United Community Banks’s dividend payout ratio is presently 32.89%.

Analyst Upgrades and Downgrades

UCB has been the subject of several research analyst reports. Weiss Ratings upgraded United Community Banks from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, June 30th. DA Davidson restated a “buy” rating and set a $40.00 target price on shares of United Community Banks in a report on Wednesday, July 22nd. Piper Sandler restated a “neutral” rating and issued a $37.00 target price on shares of United Community Banks in a research note on Wednesday, July 22nd. TD Cowen raised United Community Banks to a “strong-buy” rating in a report on Thursday, July 16th. Finally, Wall Street Zen downgraded shares of United Community Banks from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.80.

Insiders Place Their Bets

In other news, EVP Jefferson Harralson sold 25,000 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $35.41, for a total transaction of $885,250.00. Following the transaction, the executive vice president owned 37,433 shares of the company’s stock, valued at $1,325,502.53. This represents a 40.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Richard Bradshaw sold 1,424 shares of the firm’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $35.09, for a total value of $49,968.16. Following the completion of the transaction, the executive vice president owned 83,228 shares in the company, valued at approximately $2,920,470.52. This represents a 1.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.45% of the company’s stock.

United Community Banks Company Profile

United Community Banks, Inc (NYSE: UCB) is a bank holding company headquartered in Blairsville, Georgia. It operates primarily through its subsidiary, United Community Bank, providing a broad range of banking and financial services to individual, business and governmental customers. The company’s core offerings include deposit accounts, commercial and consumer lending, mortgage origination, treasury and cash management services, and wealth management.

In addition to traditional banking products such as checking, savings and money market accounts, United Community Bank specializes in commercial real estate financing, small business administration (SBA) loans, equipment financing and agricultural lending.