United Community Banks, Inc. (NASDAQ:UCBI) Shares Bought by Amalgamated Bank

Amalgamated Bank raised its stake in United Community Banks, Inc. (NASDAQ:UCBI) by 0.1% during the first quarter, according to its most recent filing with the SEC. The fund owned 9,505 shares of the financial services provider’s stock after buying an additional 9 shares during the period. Amalgamated Bank’s holdings in United Community Banks were worth $263,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in UCBI. BlackRock Inc. boosted its stake in shares of United Community Banks by 20,108.8% in the first quarter. BlackRock Inc. now owns 9,233,176 shares of the financial services provider’s stock valued at $255,666,000 after buying an additional 9,187,487 shares in the last quarter. Renaissance Technologies LLC raised its position in United Community Banks by 18.6% in the first quarter. Renaissance Technologies LLC now owns 2,078,168 shares of the financial services provider’s stock valued at $57,544,000 after buying an additional 325,400 shares during the last quarter. Dimensional Fund Advisors LP raised its position in United Community Banks by 5.1% in the first quarter. Dimensional Fund Advisors LP now owns 3,166,175 shares of the financial services provider’s stock valued at $87,672,000 after buying an additional 152,234 shares during the last quarter. Geode Capital Management LLC raised its position in United Community Banks by 12.2% in the first quarter. Geode Capital Management LLC now owns 562,144 shares of the financial services provider’s stock valued at $15,565,000 after buying an additional 61,089 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in United Community Banks by 8.0% in the first quarter. Vanguard Group Inc. now owns 6,111,857 shares of the financial services provider’s stock valued at $169,237,000 after buying an additional 451,364 shares during the last quarter. Institutional investors own 94.06% of the company’s stock.

Shares of United Community Banks, Inc. (NASDAQ:UCBI) traded up 1.03% during mid-day trading on Wednesday, hitting $26.61. 648,325 shares of the stock were exchanged. The company has a 50-day moving average price of $27.75 and a 200-day moving average price of $27.63. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 18.23 and a beta of 0.88. United Community Banks, Inc. has a 12 month low of $19.49 and a 12 month high of $30.47.

United Community Banks (NASDAQ:UCBI) last released its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. The business had revenue of $108 million during the quarter, compared to analysts’ expectations of $110.49 million. United Community Banks had a return on equity of 10.15% and a net margin of 25.97%. The company’s revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.36 EPS. Equities analysts expect that United Community Banks, Inc. will post $1.63 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, September 14th. This is a boost from United Community Banks’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.50%. United Community Banks’s dividend payout ratio is currently 24.66%.

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Several research analysts have commented on UCBI shares. ValuEngine raised shares of United Community Banks from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research raised shares of United Community Banks from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Friday, June 30th. Stephens reaffirmed a “hold” rating and set a $29.00 price objective on shares of United Community Banks in a research note on Wednesday, July 26th. BidaskClub lowered shares of United Community Banks from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Finally, UBS AG raised shares of United Community Banks from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $30.86.

In other news, EVP Robert A. Edwards sold 11,550 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $26.06, for a total transaction of $300,993.00. Following the completion of the transaction, the executive vice president now directly owns 16,858 shares in the company, valued at approximately $439,319.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.18% of the company’s stock.

About United Community Banks

United Community Banks, Inc (United) is a bank holding company. United conducts its operations through a community-focused operating model of separate community banks, which, as of December 31, 2016, operated at 139 locations throughout the Atlanta-Sandy Springs-Roswell, Georgia, and Gainesville, Georgia metropolitan statistical areas, upstate and coastal South Carolina, north and coastal Georgia, western North Carolina, and east Tennessee.

Institutional Ownership by Quarter for United Community Banks (NASDAQ:UCBI)

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