Sippican Capital Advisors reduced its position in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 3.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 76,175 shares of the financial services provider’s stock after selling 2,525 shares during the period. United Community Banks accounts for approximately 2.3% of Sippican Capital Advisors’ portfolio, making the stock its 7th largest position. Sippican Capital Advisors’ holdings in United Community Banks were worth $2,118,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. M&T Bank Corp raised its stake in shares of United Community Banks by 0.3% in the first quarter. M&T Bank Corp now owns 11,297 shares of the financial services provider’s stock worth $314,000 after buying an additional 38 shares in the last quarter. 1st Global Advisors Inc. raised its stake in shares of United Community Banks by 1.5% in the first quarter. 1st Global Advisors Inc. now owns 7,702 shares of the financial services provider’s stock worth $213,000 after buying an additional 113 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of United Community Banks by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 7,830 shares of the financial services provider’s stock worth $216,000 after buying an additional 160 shares in the last quarter. Capstone Asset Management Co. raised its stake in shares of United Community Banks by 1.0% in the first quarter. Capstone Asset Management Co. now owns 18,762 shares of the financial services provider’s stock worth $520,000 after buying an additional 181 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its stake in shares of United Community Banks by 1.0% in the first quarter. Municipal Employees Retirement System of Michigan now owns 19,580 shares of the financial services provider’s stock worth $542,000 after buying an additional 190 shares in the last quarter. 92.28% of the stock is currently owned by institutional investors and hedge funds.
United Community Banks, Inc. (NASDAQ UCBI) traded down 0.04% on Wednesday, reaching $28.24. The company’s stock had a trading volume of 34,508 shares. The firm’s 50-day moving average price is $27.34 and its 200 day moving average price is $27.77. The company has a market cap of $2.00 billion, a P/E ratio of 19.90 and a beta of 0.88. United Community Banks, Inc. has a 52-week low of $18.78 and a 52-week high of $30.47.
United Community Banks (NASDAQ:UCBI) last issued its quarterly earnings data on Wednesday, April 26th. The financial services provider reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The firm had revenue of $104.83 million during the quarter, compared to the consensus estimate of $104.30 million. United Community Banks had a return on equity of 10.28% and a net margin of 23.03%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.33 earnings per share. Equities analysts anticipate that United Community Banks, Inc. will post $1.62 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 5th. Stockholders of record on Thursday, June 15th were paid a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, June 13th. This is an increase from United Community Banks’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 1.27%. United Community Banks’s dividend payout ratio is 25.35%.
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A number of brokerages recently issued reports on UCBI. UBS AG raised United Community Banks from a “market perform” rating to an “outperform” rating in a research report on Wednesday, May 3rd. Zacks Investment Research downgraded United Community Banks from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Stephens restated a “hold” rating and issued a $30.00 price target on shares of United Community Banks in a research note on Tuesday, June 27th. ValuEngine upgraded United Community Banks from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Hovde Group upgraded United Community Banks from a “market perform” rating to an “outperform” rating and set a $31.00 price target for the company in a research note on Wednesday, May 3rd. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. United Community Banks has a consensus rating of “Buy” and an average price target of $31.00.
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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