Sippican Capital Advisors lowered its stake in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 3.2% during the second quarter, according to its most recent filing with the 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 2.3% of Sippican Capital Advisors’ portfolio, making the stock its 7th largest position. Sippican Capital Advisors owned about 0.11% of United Community Banks worth $2,118,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the company. Meadow Creek Investment Management LLC purchased a new position in shares of United Community Banks during the first quarter worth about $101,000. Cypress Capital Management LLC WY purchased a new position in shares of United Community Banks during the first quarter worth about $122,000. Glen Harbor Capital Management LLC purchased a new position in shares of United Community Banks during the first quarter worth about $122,000. LS Investment Advisors LLC raised its position in shares of United Community Banks by 89.3% in the first quarter. LS Investment Advisors LLC now owns 4,993 shares of the financial services provider’s stock worth $138,000 after buying an additional 2,355 shares during the period. Finally, Ameritas Investment Partners Inc. purchased a new position in shares of United Community Banks during the first quarter worth about $168,000. 94.37% of the stock is owned by hedge funds and other institutional investors.
United Community Banks, Inc. (NASDAQ:UCBI) traded down 2.20% on Friday, reaching $27.59. The company had a trading volume of 364,642 shares. United Community Banks, Inc. has a 52-week low of $18.78 and a 52-week high of $30.47. The stock has a market capitalization of $1.96 billion, a PE ratio of 18.90 and a beta of 0.88. The stock has a 50 day moving average price of $27.88 and a 200 day moving average price of $27.75.
United Community Banks (NASDAQ:UCBI) last posted its earnings results on Wednesday, July 26th. The financial services provider reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The company had revenue of $108 million during the quarter, compared to the consensus estimate of $110.49 million. United Community Banks had a net margin of 23.07% and a return on equity of 10.42%. The company’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 firm posted $0.36 earnings per share. Analysts expect that United Community Banks, Inc. will post $1.62 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Thursday, June 15th were issued a dividend of $0.09 per share. 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 1.30%. The ex-dividend date of this dividend was Tuesday, June 13th. United Community Banks’s dividend payout ratio is currently 24.66%.
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UCBI has been the subject of a number of recent research reports. Zacks Investment Research lowered United Community Banks from a “buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. 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. 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. Keefe, Bruyette & Woods set a $30.00 price objective on United Community Banks and gave the stock a “hold” rating in a report on Monday, April 10th. Finally, ValuEngine upgraded United Community Banks from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $30.67.
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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