Systematic Financial Management LP trimmed its holdings in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 24.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,155,344 shares of the financial services provider’s stock after selling 371,087 shares during the period. Systematic Financial Management LP owned about 1.57% of United Community Banks worth $32,974,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of United Community Banks during the 3rd quarter worth approximately $200,000. Ameriprise Financial Inc. grew its stake in United Community Banks by 0.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 716,856 shares of the financial services provider’s stock worth $20,460,000 after acquiring an additional 1,947 shares during the period. ClariVest Asset Management LLC grew its stake in United Community Banks by 3.0% in the 3rd quarter. ClariVest Asset Management LLC now owns 385,316 shares of the financial services provider’s stock worth $10,998,000 after acquiring an additional 11,377 shares during the period. SG Americas Securities LLC grew its stake in United Community Banks by 478.1% in the 3rd quarter. SG Americas Securities LLC now owns 21,945 shares of the financial services provider’s stock worth $626,000 after acquiring an additional 18,149 shares during the period. Finally, Comerica Bank grew its stake in United Community Banks by 3.4% in the 3rd quarter. Comerica Bank now owns 77,364 shares of the financial services provider’s stock worth $2,113,000 after acquiring an additional 2,537 shares during the period. 84.07% of the stock is owned by institutional investors and hedge funds.
Several research firms have commented on UCBI. BidaskClub cut shares of United Community Banks from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. ValuEngine cut shares of United Community Banks from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. FIG Partners raised shares of United Community Banks from a “market perform” rating to an “outperform” rating and set a $32.00 target price for the company in a research note on Wednesday, August 16th. Stephens reaffirmed a “hold” rating and issued a $29.00 target price on shares of United Community Banks in a research note on Wednesday, July 26th. Finally, Raymond James Financial, Inc. lowered their target price on shares of United Community Banks from $32.00 to $31.00 and set a “strong-buy” rating for the company in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. United Community Banks has an average rating of “Buy” and an average target price of $31.25.
United Community Banks (NASDAQ:UCBI) last announced its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.41. United Community Banks had a net margin of 23.09% and a return on equity of 10.31%. The company had revenue of $109.35 million during the quarter, compared to analysts’ expectations of $114.65 million. During the same period in the previous year, the company earned $0.36 EPS. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. sell-side analysts forecast that United Community Banks, Inc. will post 1.63 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.40 annualized dividend and a dividend yield of 1.48%. United Community Banks’s dividend payout ratio is presently 27.03%.
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United Community Banks Profile
United Community Banks, Inc (United) is a bank holding company. United conducts its operations through a community-focused operating model of separate community banks, which, as of December 31, 2016, operated at 139 locations throughout the Atlanta-Sandy Springs-Roswell, Georgia, and Gainesville, Georgia metropolitan statistical areas, upstate and coastal South Carolina, north and coastal Georgia, western North Carolina, and east Tennessee.
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