Nisa Investment Advisors LLC Increases Stock Position in United Community Banks, Inc. (NASDAQ:UCBI)

Nisa Investment Advisors LLC boosted its stake in United Community Banks, Inc. (NASDAQ:UCBI) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,218 shares of the financial services provider’s stock after acquiring an additional 583 shares during the period. Nisa Investment Advisors LLC’s holdings in United Community Banks were worth $709,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of UCBI. Advisor Group Holdings Inc. lifted its position in United Community Banks by 6.8% in the first quarter. Advisor Group Holdings Inc. now owns 5,498 shares of the financial services provider’s stock valued at $173,000 after acquiring an additional 351 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of United Community Banks in the first quarter valued at about $373,000. Cetera Advisor Networks LLC purchased a new stake in shares of United Community Banks in the first quarter valued at about $210,000. Citigroup Inc. raised its holdings in shares of United Community Banks by 23.0% in the first quarter. Citigroup Inc. now owns 94,139 shares of the financial services provider’s stock valued at $3,276,000 after buying an additional 17,608 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of United Community Banks by 21.0% in the first quarter. PNC Financial Services Group Inc. now owns 17,403 shares of the financial services provider’s stock valued at $606,000 after buying an additional 3,025 shares during the last quarter. 82.29% of the stock is owned by hedge funds and other institutional investors.

United Community Banks Trading Down 1.4 %

Shares of United Community Banks stock opened at $24.54 on Wednesday. United Community Banks, Inc. has a 52-week low of $20.37 and a 52-week high of $30.75. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10. The company’s 50-day simple moving average is $25.85 and its 200-day simple moving average is $26.22. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 15.83 and a beta of 0.94.

United Community Banks (NASDAQ:UCBI) last issued its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. United Community Banks had a net margin of 14.29% and a return on equity of 8.32%. The business had revenue of $165.70 million for the quarter, compared to analyst estimates of $226.07 million. During the same period in the previous year, the business posted $0.75 earnings per share. The business’s revenue was down 25.8% compared to the same quarter last year. As a group, equities research analysts anticipate that United Community Banks, Inc. will post 2.19 earnings per share for the current year.

United Community Banks Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.92 annualized dividend and a yield of 3.75%. United Community Banks’s payout ratio is currently 59.36%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Truist Financial reduced their target price on shares of United Community Banks from $31.00 to $28.00 and set a “hold” rating for the company in a report on Monday, April 1st. DA Davidson reaffirmed a “buy” rating on shares of United Community Banks in a report on Monday, January 15th. StockNews.com raised shares of United Community Banks to a “sell” rating in a report on Wednesday, January 17th. Piper Sandler upped their target price on shares of United Community Banks from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Finally, TheStreet cut shares of United Community Banks from a “b” rating to a “c+” rating in a report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $31.00.

United Community Banks Profile

United Community Banks, Inc operates as the financial holding company for United Community Bank that provides financial products and services to commercial, retail, government, education, energy, health care, and real estate sectors. It accepts various deposit products, including checking, savings, money market, and other deposit accounts.