United Community Banks, Inc. (UCBI) Stake Raised by Allianz Asset Management GmbH

Allianz Asset Management GmbH lifted its position in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 20.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 666,567 shares of the financial services provider’s stock after purchasing an additional 112,049 shares during the period. Allianz Asset Management GmbH owned about 0.84% of United Community Banks worth $18,591,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of United Community Banks by 7.6% during the 2nd quarter. BlackRock Inc. now owns 11,676,225 shares of the financial services provider’s stock worth $358,110,000 after purchasing an additional 823,876 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of United Community Banks by 0.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,007,826 shares of the financial services provider’s stock worth $83,889,000 after purchasing an additional 22,088 shares during the last quarter. Schroder Investment Management Group lifted its position in shares of United Community Banks by 4.6% during the 2nd quarter. Schroder Investment Management Group now owns 2,506,627 shares of the financial services provider’s stock worth $78,157,000 after purchasing an additional 110,843 shares during the last quarter. FMR LLC lifted its position in shares of United Community Banks by 27.9% during the 2nd quarter. FMR LLC now owns 2,258,564 shares of the financial services provider’s stock worth $69,271,000 after purchasing an additional 492,017 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of United Community Banks by 2.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,899,515 shares of the financial services provider’s stock worth $52,977,000 after purchasing an additional 38,244 shares during the last quarter. 87.16% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of United Community Banks from a “sell” rating to a “hold” rating in a research report on Friday, September 28th. BidaskClub cut shares of United Community Banks from a “hold” rating to a “sell” rating in a research report on Friday. Stephens reaffirmed a “hold” rating and set a $24.00 price objective on shares of United Community Banks in a research report on Thursday, October 25th. Finally, FIG Partners reaffirmed an “outperform” rating on shares of United Community Banks in a research report on Thursday, September 20th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $28.40.

Shares of UCBI opened at $23.84 on Friday. United Community Banks, Inc. has a 1-year low of $22.83 and a 1-year high of $34.18. The firm has a market capitalization of $1.88 billion, a P/E ratio of 14.63 and a beta of 0.93. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.82 and a quick ratio of 0.82.

United Community Banks (NASDAQ:UCBI) last announced its quarterly earnings results on Tuesday, October 23rd. The financial services provider reported $0.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.55. United Community Banks had a net margin of 19.16% and a return on equity of 11.64%. The firm had revenue of $134.50 million during the quarter, compared to analysts’ expectations of $136.53 million. During the same period in the previous year, the company earned $0.41 earnings per share. United Community Banks’s quarterly revenue was up 23.1% compared to the same quarter last year. As a group, sell-side analysts predict that United Community Banks, Inc. will post 2.13 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 7th. Investors of record on Saturday, December 15th will be given a $0.16 dividend. The ex-dividend date is Thursday, December 13th. This is a boost from United Community Banks’s previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a yield of 2.68%. United Community Banks’s payout ratio is 36.81%.

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

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