Nationwide Fund Advisors Sells 3,950 Shares of United Community Banks, Inc. (UCBI)

Nationwide Fund Advisors cut its stake in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 1.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 272,426 shares of the financial services provider’s stock after selling 3,950 shares during the quarter. Nationwide Fund Advisors owned approximately 0.38% of United Community Banks worth $7,775,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Riverhead Capital Management LLC grew its holdings in shares of United Community Banks by 134.3% during the second quarter. Riverhead Capital Management LLC now owns 5,390 shares of the financial services provider’s stock valued at $150,000 after purchasing an additional 3,090 shares during the last quarter. Amalgamated Bank grew its holdings in shares of United Community Banks by 1.5% during the second quarter. Amalgamated Bank now owns 9,645 shares of the financial services provider’s stock valued at $268,000 after purchasing an additional 140 shares during the last quarter. Citadel Advisors LLC bought a new position in shares of United Community Banks during the second quarter valued at approximately $311,000. HighTower Advisors LLC bought a new position in shares of United Community Banks during the second quarter valued at approximately $328,000. Finally, M&T Bank Corp grew its holdings in shares of United Community Banks by 6.0% during the second quarter. M&T Bank Corp now owns 11,978 shares of the financial services provider’s stock valued at $334,000 after purchasing an additional 681 shares during the last quarter. 87.69% of the stock is owned by institutional investors.

Several research firms have recently commented on UCBI. BidaskClub lowered United Community Banks from a “buy” rating to a “hold” rating in a report on Saturday. FIG Partners raised United Community Banks from a “market perform” rating to an “outperform” rating and set a $32.00 target price for the company in a report on Wednesday, August 16th. ValuEngine lowered United Community Banks from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Zacks Investment Research raised United Community Banks from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a report on Wednesday, September 27th. Finally, SunTrust Banks reissued a “buy” rating and issued a $33.00 price objective on shares of United Community Banks in a report on Thursday, October 12th. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $31.25.

United Community Banks, Inc. (NASDAQ:UCBI) opened at $28.11 on Friday. United Community Banks, Inc. has a fifty-two week low of $24.47 and a fifty-two week high of $30.47. The stock has a market capitalization of $2,068.55, a P/E ratio of 17.50 and a beta of 0.88. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.81 and a quick ratio of 0.80.

United Community Banks (NASDAQ:UCBI) last issued its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.41. United Community Banks had a return on equity of 10.31% and a net margin of 23.09%. The business had revenue of $109.35 million during the quarter, compared to analyst estimates of $114.65 million. During the same period in the prior year, the company posted $0.36 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. analysts anticipate that United Community Banks, Inc. will post 1.63 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 15th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Thursday, December 14th. United Community Banks’s dividend payout ratio (DPR) is 27.03%.

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About United Community Banks

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

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