Pinnacle Wealth Management Advisory Group LLC Invests $454,000 in United Community Banks, Inc. $UCB

Pinnacle Wealth Management Advisory Group LLC bought a new position in United Community Banks, Inc. (NYSE:UCB) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 14,409 shares of the company’s stock, valued at approximately $454,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System purchased a new stake in United Community Banks during the first quarter valued at about $1,685,000. Vaughan Nelson Investment Management L.P. purchased a new position in shares of United Community Banks in the 1st quarter worth about $34,183,000. Diversified Trust Co lifted its stake in shares of United Community Banks by 12.2% in the 1st quarter. Diversified Trust Co now owns 28,551 shares of the company’s stock valued at $899,000 after purchasing an additional 3,109 shares in the last quarter. Hsbc Holdings PLC lifted its stake in shares of United Community Banks by 239.4% in the 4th quarter. Hsbc Holdings PLC now owns 24,662 shares of the company’s stock valued at $770,000 after purchasing an additional 17,396 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of United Community Banks during the 4th quarter worth about $29,000. Institutional investors and hedge funds own 82.29% of the company’s stock.

Insider Activity at United Community Banks

In other news, EVP Richard Bradshaw sold 1,510 shares of the business’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $33.09, for a total transaction of $49,965.90. Following the transaction, the executive vice president directly owned 84,497 shares of the company’s stock, valued at approximately $2,796,005.73. The trade was a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on UCB. Piper Sandler dropped their target price on shares of United Community Banks from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, June 17th. Keefe, Bruyette & Woods upgraded shares of United Community Banks from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $36.00 to $40.00 in a research note on Thursday, April 9th. Wall Street Zen lowered shares of United Community Banks from a “hold” rating to a “sell” rating in a research report on Saturday. Hovde Group dropped their price objective on shares of United Community Banks from $38.00 to $37.00 and set a “market perform” rating for the company in a research report on Monday, April 27th. Finally, Weiss Ratings lowered shares of United Community Banks from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 15th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $38.40.

United Community Banks Price Performance

UCB stock opened at $35.58 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.82 and a current ratio of 0.82. United Community Banks, Inc. has a 1 year low of $28.65 and a 1 year high of $36.77. The firm has a market cap of $4.26 billion, a P/E ratio of 13.08 and a beta of 0.82. The stock has a 50-day simple moving average of $33.35 and a 200-day simple moving average of $33.01.

United Community Banks (NYSE:UCB) last released its quarterly earnings results on Tuesday, April 21st. The company reported $0.70 EPS for the quarter, hitting the consensus estimate of $0.70. The firm had revenue of $278.26 million for the quarter. United Community Banks had a return on equity of 9.65% and a net margin of 22.05%.The business’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the firm posted $0.58 earnings per share. On average, equities analysts predict that United Community Banks, Inc. will post 2.95 earnings per share for the current fiscal year.

United Community Banks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 3rd. Stockholders of record on Monday, June 15th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, June 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.8%. United Community Banks’s dividend payout ratio (DPR) is currently 36.76%.

United Community Banks Company Profile

United Community Banks, Inc (NYSE: UCB) is a bank holding company headquartered in Blairsville, Georgia. It operates primarily through its subsidiary, United Community Bank, providing a broad range of banking and financial services to individual, business and governmental customers. The company’s core offerings include deposit accounts, commercial and consumer lending, mortgage origination, treasury and cash management services, and wealth management.

In addition to traditional banking products such as checking, savings and money market accounts, United Community Bank specializes in commercial real estate financing, small business administration (SBA) loans, equipment financing and agricultural lending.