California Public Employees Retirement System Purchases 24,939 Shares of United Community Banks, Inc. (UCBI)

California Public Employees Retirement System boosted its position in United Community Banks, Inc. (NASDAQ:UCBI) by 13.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 210,659 shares of the financial services provider’s stock after purchasing an additional 24,939 shares during the quarter. California Public Employees Retirement System owned about 0.27% of United Community Banks worth $4,521,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of UCBI. Oregon Public Employees Retirement Fund bought a new stake in United Community Banks in the 4th quarter valued at about $30,000. Morgan Stanley lifted its position in United Community Banks by 71.3% in the 3rd quarter. Morgan Stanley now owns 469,070 shares of the financial services provider’s stock valued at $13,081,000 after purchasing an additional 195,216 shares during the last quarter. Vanguard Group Inc lifted its position in United Community Banks by 2.4% in the 3rd quarter. Vanguard Group Inc now owns 7,523,220 shares of the financial services provider’s stock valued at $209,823,000 after purchasing an additional 177,250 shares during the last quarter. Vanguard Group Inc. lifted its position in United Community Banks by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 7,523,220 shares of the financial services provider’s stock valued at $209,823,000 after purchasing an additional 177,250 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its position in United Community Banks by 20.2% in the 3rd quarter. Allianz Asset Management GmbH now owns 666,567 shares of the financial services provider’s stock valued at $18,591,000 after purchasing an additional 112,049 shares during the last quarter. Hedge funds and other institutional investors own 88.22% of the company’s stock.

Several analysts recently weighed in on UCBI shares. Zacks Investment Research upgraded shares of United Community Banks from a “sell” rating to a “hold” rating in a research report on Tuesday, January 22nd. BidaskClub downgraded shares of United Community Banks from a “hold” rating to a “sell” rating in a research report on Friday, December 7th. ValuEngine downgraded shares of United Community Banks from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. SunTrust Banks boosted their price target on shares of United Community Banks to $29.00 and gave the stock a “hold” rating in a research report on Friday, January 25th. Finally, Stephens restated a “hold” rating and set a $27.00 price target on shares of United Community Banks in a research report on Wednesday, January 23rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $30.00.

UCBI stock opened at $26.47 on Friday. United Community Banks, Inc. has a 52 week low of $20.23 and a 52 week high of $34.18. The stock 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 quick ratio of 0.81 and a current ratio of 0.82.

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, topping analysts’ consensus estimates of $0.55 by $0.02. United Community Banks had a net margin of 27.81% and a return on equity of 12.27%. The company had revenue of $135.82 million for the quarter, compared to the consensus estimate of $137.89 million. During the same period in the previous year, the firm earned $0.42 EPS. United Community Banks’s revenue was up 14.9% on a year-over-year basis. On average, research analysts expect that United Community Banks, Inc. will post 2.25 EPS for the current year.

The business 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. The ex-dividend date is Thursday, March 14th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.42%. United Community Banks’s dividend payout ratio (DPR) is 29.91%.

In other news, insider Bill M. Gilbert sold 4,246 shares of United Community Banks stock in a transaction that occurred on Tuesday, January 29th. The shares were sold at an average price of $26.17, for a total value of $111,117.82. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Bradley J. Miller sold 8,627 shares of United Community Banks stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $29.16, for a total transaction 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 worth $439,808 over the last 90 days. 1.77% of the stock is owned by insiders.

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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: What is Call Option Volume?

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

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