BlackRock Inc. Boosts Stake in United Community Banks, Inc. (UCBI)

BlackRock Inc. lifted its position in United Community Banks, Inc. (NASDAQ:UCBI) by 1.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,648,354 shares of the financial services provider’s stock after purchasing an additional 109,641 shares during the quarter. BlackRock Inc. owned 14.71% of United Community Banks worth $249,973,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of UCBI. Comerica Bank boosted its holdings in United Community Banks by 0.5% during the 4th quarter. Comerica Bank now owns 77,636 shares of the financial services provider’s stock valued at $2,030,000 after acquiring an additional 420 shares during the period. Piedmont Investment Advisors Inc. boosted its holdings in United Community Banks by 3.4% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 18,835 shares of the financial services provider’s stock valued at $404,000 after acquiring an additional 618 shares during the period. Bank of Montreal Can boosted its holdings in United Community Banks by 7.5% during the 4th quarter. Bank of Montreal Can now owns 9,220 shares of the financial services provider’s stock valued at $198,000 after acquiring an additional 645 shares during the period. Cambiar Investors LLC boosted its holdings in United Community Banks by 0.5% during the 4th quarter. Cambiar Investors LLC now owns 163,205 shares of the financial services provider’s stock valued at $3,502,000 after acquiring an additional 793 shares during the period. Finally, Private Capital Group LLC boosted its holdings in United Community Banks by 210.7% during the 4th quarter. Private Capital Group LLC now owns 1,793 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 1,216 shares during the period. Hedge funds and other institutional investors own 88.22% of the company’s stock.

In other United Community Banks news, insider Bill M. Gilbert sold 4,246 shares of the company’s stock in a transaction that occurred on Tuesday, January 29th. The stock was sold at an average price of $26.17, for a total transaction of $111,117.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bradley J. Miller sold 8,627 shares of the company’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $29.16, for a total value of $251,563.32. The disclosure for this sale can be found here. Insiders have sold a total of 15,836 shares of company stock valued at $439,808 in the last ninety days. 1.77% of the stock is currently owned by corporate insiders.

Several brokerages recently weighed in on UCBI. BidaskClub cut United Community Banks from a “hold” rating to a “sell” rating in a report on Saturday, March 9th. ValuEngine cut United Community Banks from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. Keefe, Bruyette & Woods lowered United Community Banks from an “outperform” rating to a “market perform” rating and set a $32.00 price target for the company. in a research report on Sunday, February 24th. Zacks Investment Research raised United Community Banks from a “sell” rating to a “hold” rating in a research report on Tuesday, February 12th. Finally, SunTrust Banks upped their price target on United Community Banks to $29.00 and gave the company a “hold” rating in a research report on Friday, January 25th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. United Community Banks currently has an average rating of “Hold” and a consensus price target of $30.00.

UCBI opened at $26.47 on Friday. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 12.37 and a beta of 1.24. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.82 and a quick ratio of 0.81. United Community Banks, Inc. has a one year low of $20.23 and a one year high of $34.18.

United Community Banks (NASDAQ:UCBI) last released its quarterly earnings results on Tuesday, January 22nd. The financial services provider reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.02. The business had revenue of $135.82 million during the quarter, compared to analyst estimates of $137.89 million. United Community Banks had a return on equity of 12.27% and a net margin of 27.81%. United Community Banks’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.42 EPS. Equities research analysts forecast that United Community Banks, Inc. will post 2.25 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 5th. Shareholders of record on Friday, March 15th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Thursday, March 14th. United Community Banks’s payout ratio is 29.91%.

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About United Community Banks

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.

Further Reading: SEC Filing

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

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