American Century Companies Inc. raised its holdings in shares of United Community Banks, Inc. (NASDAQ:UCBI – Get Rating) by 25.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 319,254 shares of the financial services provider's stock after purchasing an additional 64,714 shares during the quarter. American Century Companies Inc. owned approximately 0.30% of United Community Banks worth $11,110,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. California Public Employees Retirement System acquired a new stake in United Community Banks during the 1st quarter valued at $1,012,000. Victory Capital Management Inc. lifted its holdings in shares of United Community Banks by 4.3% during the first quarter. Victory Capital Management Inc. now owns 1,048,908 shares of the financial services provider's stock worth $36,391,000 after buying an additional 43,201 shares in the last quarter. Marks Group Wealth Management Inc acquired a new stake in shares of United Community Banks during the first quarter worth $205,000. Geode Capital Management LLC lifted its holdings in shares of United Community Banks by 11.7% during the fourth quarter. Geode Capital Management LLC now owns 1,763,792 shares of the financial services provider's stock worth $63,391,000 after buying an additional 185,209 shares in the last quarter. Finally, Schroder Investment Management Group lifted its holdings in shares of United Community Banks by 13.2% during the fourth quarter. Schroder Investment Management Group now owns 2,391,301 shares of the financial services provider's stock worth $85,943,000 after buying an additional 279,544 shares in the last quarter. Institutional investors and hedge funds own 84.78% of the company's stock.
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United Community Banks Stock Down 2.8 %
UCBI stock opened at $32.60 on Friday. The company has a market cap of $3.45 billion, a PE ratio of 13.53 and a beta of 1.05. The business has a 50-day simple moving average of $32.90 and a 200 day simple moving average of $33.01. United Community Banks, Inc. has a 52 week low of $27.62 and a 52 week high of $39.32. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.13.
United Community Banks (NASDAQ:UCBI – Get Rating) last posted its quarterly earnings results on Tuesday, July 19th. The financial services provider reported $0.66 EPS for the quarter, missing analysts' consensus estimates 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 company 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. The firm's revenue for the quarter was up 21.9% compared to the same quarter last year. Sell-side analysts anticipate that United Community Banks, Inc. will post 2.65 EPS for the current fiscal year.
United Community Banks Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Thursday, September 15th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Wednesday, September 14th. This is a boost from United Community Banks's previous quarterly dividend of $0.21. United Community Banks's payout ratio is currently 34.85%.
Analyst Ratings Changes
UCBI has been the subject of a number of research reports. Piper Sandler dropped their target price on United Community Banks to $36.00 in a report on Friday, July 22nd. Truist Financial dropped their target price on United Community Banks from $34.00 to $32.00 in a report on Wednesday, June 15th. Finally, StockNews.com downgraded United Community Banks from a "hold" rating to a "sell" rating in a research note on Thursday.
United Community Banks Company Profile
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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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