United Community Banks, Inc. (NASDAQ:UCBI) was the target of a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 929,666 shares, a decline of 27.4% from the November 15th total of 1,281,321 shares. Currently, 1.4% of the shares of the company are short sold. Based on an average trading volume of 481,773 shares, the days-to-cover ratio is presently 1.9 days.
A number of institutional investors and hedge funds have recently modified their holdings of the business. GSA Capital Partners LLP acquired a new position in United Community Banks during the third quarter worth about $653,000. California Public Employees Retirement System grew its position in shares of United Community Banks by 18.2% in the third quarter. California Public Employees Retirement System now owns 127,458 shares of the financial services provider’s stock valued at $3,638,000 after purchasing an additional 19,658 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of United Community Banks in the third quarter valued at approximately $604,000. Zions Bancorporation acquired a new stake in shares of United Community Banks in the third quarter valued at approximately $115,000. Finally, Maltese Capital Management LLC grew its position in shares of United Community Banks by 64.9% in the third quarter. Maltese Capital Management LLC now owns 587,000 shares of the financial services provider’s stock valued at $16,753,000 after purchasing an additional 231,000 shares during the last quarter. Institutional investors own 87.69% of the company’s stock.
UCBI has been the topic of a number of recent analyst reports. ValuEngine lowered shares of United Community Banks from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Zacks Investment Research lowered shares of United Community Banks from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. BidaskClub lowered shares of United Community Banks from a “buy” rating to a “hold” rating in a research note on Saturday, December 9th. Finally, SunTrust Banks reiterated a “buy” rating and set a $33.00 price target on shares of United Community Banks in a research note on Thursday, October 12th. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. United Community Banks currently has a consensus rating of “Buy” and an average price target of $31.14.
United Community Banks (NASDAQ:UCBI) last issued its earnings results on Tuesday, October 24th. The financial services provider reported $0.41 earnings per share for the quarter, hitting the 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 for the quarter, compared to analyst estimates of $114.65 million. During the same period in the prior year, the business posted $0.36 earnings per share. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. research analysts predict that United Community Banks will post 1.63 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 15th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.40 annualized dividend and a yield of 1.39%. United Community Banks’s payout ratio is currently 27.03%.
United Community Banks Company 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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