According to Zacks, “United Community Bank 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. The community banks offer a range of retail and corporate banking services, including checking, savings and time deposit accounts, secured and unsecured loans, wire transfers, brokerage services and other financial services. The Company operates through its subsidiary, United Community Bank, Blairsville, Georgia (the Bank). The Bank owns an insurance agency, United Community Insurance Services, Inc., known as United Community Advisory Services, which is a subsidiary of the Bank. “
A number of other research firms have also recently commented on UCBI. Keefe, Bruyette & Woods cut United Community Banks from an outperform rating to a market perform rating and set a $32.00 target price on the stock. in a research note on Sunday, February 24th. BidaskClub cut United Community Banks from a buy rating to a hold rating in a research note on Monday, February 25th. ValuEngine upgraded United Community Banks from a sell rating to a hold rating in a research note on Thursday, February 7th. SunTrust Banks lifted their target price on United Community Banks to $29.00 and gave the stock a hold rating in a research note on Friday, January 25th. Finally, Stephens reiterated a hold rating and set a $27.00 target price on shares of United Community Banks in a research note on Wednesday, January 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $29.33.
United Community Banks (NASDAQ:UCBI) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $0.56 EPS for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.02. The company had revenue of $133.30 million for the quarter, compared to analysts’ expectations of $137.03 million. United Community Banks had a return on equity of 12.33% and a net margin of 27.98%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.50 EPS. As a group, equities analysts anticipate that United Community Banks will post 2.27 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend was Thursday, March 14th. United Community Banks’s dividend payout ratio is currently 29.91%.
In related news, EVP Bradley J. Miller sold 8,627 shares of the business’s stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $29.16, for a total value of $251,563.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Bill M. Gilbert sold 4,246 shares of the business’s stock in a transaction dated Tuesday, January 29th. The shares were sold at an average price of $26.17, for a total value of $111,117.82. The disclosure for this sale can be found here. Insiders own 1.18% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio raised its stake in United Community Banks by 60.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 1,218 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 458 shares during the period. Versant Capital Management Inc raised its stake in United Community Banks by 243.8% in the 1st quarter. Versant Capital Management Inc now owns 1,255 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 890 shares during the period. Toronto Dominion Bank bought a new stake in United Community Banks in the 4th quarter valued at about $28,000. Private Capital Group LLC raised its stake in United Community Banks by 210.7% in the 4th quarter. Private Capital Group LLC now owns 1,793 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 1,216 shares during the period. Finally, Meeder Asset Management Inc. purchased a new position in United Community Banks during the 1st quarter valued at about $51,000. Institutional investors and hedge funds own 89.70% of the company’s stock.
About United Community Banks
United Community Banks, Inc operates as the bank holding company for United Community Bank that provides retail and corporate banking services to individuals and businesses. It offers various deposit accounts, such as checking accounts, savings and time deposits accounts, NOW accounts, money market deposits, and certificates of deposit.
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