Crossmark Global Holdings Inc. increased its stake in United Community Banks, Inc. (NASDAQ:UCBI – Get Rating) by 10.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,314 shares of the financial services provider's stock after purchasing an additional 810 shares during the period. Crossmark Global Holdings Inc.'s holdings in United Community Banks were worth $290,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. bought a new position in United Community Banks in the 1st quarter worth approximately $373,000. Massachusetts Financial Services Co. MA grew its holdings in United Community Banks by 231.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,488,855 shares of the financial services provider's stock worth $51,812,000 after acquiring an additional 1,039,312 shares during the period. GSA Capital Partners LLP acquired a new stake in United Community Banks during the 1st quarter worth $478,000. South Dakota Investment Council grew its holdings in United Community Banks by 5.8% during the 1st quarter. South Dakota Investment Council now owns 41,988 shares of the financial services provider's stock worth $1,461,000 after acquiring an additional 2,288 shares during the period. Finally, Marks Group Wealth Management Inc acquired a new stake in United Community Banks during the 1st quarter worth $205,000. Institutional investors own 84.78% of the company's stock.
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Analysts Set New Price Targets
A number of analysts have commented on the stock. Piper Sandler lowered their target price on shares of United Community Banks to $36.00 in a report on Friday, July 22nd. Truist Financial lowered their target price on shares of United Community Banks from $34.00 to $32.00 in a report on Wednesday, June 15th. Finally, StockNews.com lowered shares of United Community Banks from a "hold" rating to a "sell" rating in a report on Thursday.
United Community Banks Price Performance
Shares of UCBI stock opened at $32.60 on Friday. United Community Banks, Inc. has a 12-month low of $27.62 and a 12-month high of $39.32. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 13.53 and a beta of 1.05. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average of $32.90 and a 200-day moving average of $33.01.
United Community Banks (NASDAQ:UCBI – Get Rating) last announced its quarterly earnings results on Tuesday, July 19th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.03). United Community Banks had a net margin of 30.10% and a return on equity of 11.27%. The firm had revenue of $212.36 million during the quarter, compared to analyst estimates of $213.19 million. During the same period last year, the firm earned $0.79 EPS. United Community Banks's quarterly revenue was up 21.9% on a year-over-year basis. On average, equities research analysts forecast that United Community Banks, Inc. will post 2.65 earnings per share for the current year.
United Community Banks Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Thursday, September 15th will be given a $0.22 dividend. This is a boost from United Community Banks's previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 2.70%. The ex-dividend date is Wednesday, September 14th. United Community Banks's payout ratio is currently 34.85%.
About United Community Banks
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United Community Banks, Inc operates as the financial holding company for United Community Bank that provides financial products and services to commercial, retail, government, education, energy, health care, and real estate sectors. The company accepts various deposit products, including checking, savings, money market, and other deposit accounts.
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