QS Investors LLC lowered its position in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 5.0% during the fourth quarter, Holdings Channel reports. The fund owned 231,882 shares of the financial services provider’s stock after selling 12,236 shares during the quarter. QS Investors LLC’s holdings in United Community Banks were worth $6,525,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Zions Bancorporation acquired a new stake in United Community Banks during the third quarter worth approximately $115,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in United Community Banks by 55.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,874 shares of the financial services provider’s stock worth $137,000 after acquiring an additional 1,741 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in United Community Banks during the third quarter worth approximately $200,000. Magnetar Financial LLC acquired a new stake in United Community Banks during the third quarter worth approximately $201,000. Finally, FinTrust Investment Advisory Services LLC acquired a new stake in United Community Banks during the fourth quarter worth approximately $203,000. Hedge funds and other institutional investors own 82.66% of the company’s stock.
United Community Banks, Inc. (UCBI) opened at $33.03 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $2,639.08, a P/E ratio of 20.47 and a beta of 0.91. United Community Banks, Inc. has a one year low of $24.47 and a one year high of $33.59.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 5th. Shareholders of record on Thursday, March 15th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.48 dividend on an annualized basis and a yield of 1.45%. This is an increase from United Community Banks’s previous quarterly dividend of $0.10. United Community Banks’s dividend payout ratio (DPR) is currently 42.55%.
A number of analysts recently issued reports on the stock. BidaskClub upgraded shares of United Community Banks from a “hold” rating to a “buy” rating in a research report on Saturday, February 10th. Keefe, Bruyette & Woods upgraded shares of United Community Banks from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 25th. Zacks Investment Research lowered shares of United Community Banks from a “buy” rating to a “hold” rating and set a $31.00 target price on the stock. in a research report on Saturday, January 6th. Finally, ValuEngine lowered shares of United Community Banks from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. United Community Banks currently has an average rating of “Buy” and an average price target of $31.00.
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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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