United Community Banks, Inc. (NASDAQ:UCBI) was the recipient of a large decrease in short interest in August. As of August 31st, there was short interest totalling 1,368,650 shares, a decrease of 22.1% from the August 15th total of 1,756,441 shares. Approximately 2.0% of the company’s stock are sold short. Based on an average trading volume of 318,102 shares, the short-interest ratio is currently 4.3 days.

UCBI has been the subject of several research analyst reports. Zacks Investment Research raised 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 reissued a “hold” rating and issued a $30.00 price objective on shares of United Community Banks in a research note on Tuesday, June 27th. ValuEngine raised United Community Banks from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Raymond James Financial, Inc. reduced their price objective on United Community Banks from $32.00 to $31.00 and set a “strong-buy” rating for the company in a research note on Thursday, July 27th. Finally, BidaskClub downgraded United Community Banks from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. One 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 assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $30.86.

In related news, EVP Robert A. Edwards sold 11,550 shares of the stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $26.06, for a total value of $300,993.00. Following the completion of the sale, the executive vice president now directly owns 16,858 shares of the company’s stock, valued at approximately $439,319.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.18% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Meadow Creek Investment Management LLC bought a new stake in United Community Banks during the first quarter worth about $101,000. Glen Harbor Capital Management LLC bought a new stake in United Community Banks during the first quarter worth about $122,000. LS Investment Advisors LLC raised its holdings in United Community Banks by 89.3% during the first quarter. LS Investment Advisors LLC now owns 4,993 shares of the financial services provider’s stock worth $138,000 after acquiring an additional 2,355 shares in the last quarter. Riverhead Capital Management LLC raised its holdings in United Community Banks by 134.3% during the second quarter. Riverhead Capital Management LLC now owns 5,390 shares of the financial services provider’s stock worth $150,000 after acquiring an additional 3,090 shares in the last quarter. Finally, Ameritas Investment Partners Inc. bought a new stake in United Community Banks during the first quarter worth about $168,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

Shares of United Community Banks (UCBI) opened at 25.98 on Friday. The stock’s 50 day moving average price is $26.34 and its 200-day moving average price is $27.20. The stock has a market capitalization of $1.84 billion, a P/E ratio of 17.79 and a beta of 0.87. United Community Banks has a 1-year low of $20.12 and a 1-year high of $30.47.

United Community Banks (NASDAQ:UCBI) last posted its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.01. The company had revenue of $108.00 million during the quarter, compared to analysts’ expectations of $110.49 million. United Community Banks had a return on equity of 10.42% and a net margin of 23.07%. United Community Banks’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 earnings per share. Equities research analysts anticipate that United Community Banks will post $1.64 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 15th will be given a dividend of $0.10 per share. This is a boost from United Community Banks’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Thursday, September 14th. United Community Banks’s dividend payout ratio is currently 27.40%.

TRADEMARK VIOLATION WARNING: This report was first published by American Banking News and is owned by of American Banking News. If you are reading this report on another website, it was illegally stolen and reposted in violation of United States and international trademark and copyright laws. The legal version of this report can be read at https://www.americanbankingnews.com/2017/09/17/short-interest-in-united-community-banks-inc-ucbi-decreases-by-22-1.html.

United Community Banks Company Profile

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.

Receive News & Ratings for United Community Banks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Community Banks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.