Teacher Retirement System of Texas acquired a new stake in United Community Banks, Inc. (NASDAQ:UCBI) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 25,240 shares of the financial services provider’s stock, valued at approximately $710,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Zions Bancorporation acquired a new position in United Community Banks in the 3rd quarter valued at $115,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in United Community Banks by 55.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,874 shares of the financial services provider’s stock valued at $137,000 after buying an additional 1,741 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in United Community Banks in the 3rd quarter valued at $200,000. Magnetar Financial LLC acquired a new position in United Community Banks in the 3rd quarter valued at $201,000. Finally, FinTrust Investment Advisory Services LLC acquired a new position in United Community Banks in the 4th quarter valued at $203,000. 81.45% of the stock is currently owned by institutional investors.
Several equities analysts have issued reports on UCBI shares. ValuEngine cut shares of United Community Banks from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. BidaskClub cut shares of United Community Banks from a “buy” rating to a “hold” rating in a research note on Saturday, December 9th. Zacks Investment Research raised shares of United Community Banks from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Wednesday, December 27th. Finally, Keefe, Bruyette & Woods raised shares of United Community Banks from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 25th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. United Community Banks has a consensus rating of “Buy” and a consensus target price of $31.00.
United Community Banks (NASDAQ:UCBI) last issued its earnings results on Tuesday, January 23rd. The financial services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.41 by $0.01. The company had revenue of $118.24 million for the quarter, compared to analyst estimates of $118.26 million. United Community Banks had a net margin of 14.14% and a return on equity of 10.12%. The business’s revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 EPS. sell-side analysts predict that United Community Banks, Inc. will post 2.22 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 5th. Shareholders of record on Thursday, March 15th will be given a dividend of $0.12 per share. This is a positive change from United Community Banks’s previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Wednesday, March 14th. United Community Banks’s payout ratio is presently 42.55%.
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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