EverSource Wealth Advisors LLC lifted its stake in United Community Banks, Inc. (NASDAQ:UCBI – Get Rating) by 87.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,123 shares of the financial services provider's stock after purchasing an additional 524 shares during the period. EverSource Wealth Advisors LLC's holdings in United Community Banks were worth $39,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of UCBI. Raleigh Capital Management Inc. purchased a new position in United Community Banks during the 1st quarter valued at about $26,000. Massmutual Trust Co. FSB ADV bought a new stake in United Community Banks during the 1st quarter valued at about $54,000. Lee Financial Co bought a new stake in United Community Banks during the 1st quarter valued at about $96,000. Advisor Group Holdings Inc. increased its stake in United Community Banks by 6.8% during the 1st quarter. Advisor Group Holdings Inc. now owns 5,498 shares of the financial services provider's stock valued at $173,000 after purchasing an additional 351 shares in the last quarter. Finally, HHM Wealth Advisors LLC bought a new stake in United Community Banks during the 1st quarter valued at about $180,000. 84.78% of the stock is owned by hedge funds and other institutional investors.
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United Community Banks Stock Performance
Shares of UCBI stock opened at $33.66 on Monday. The company has a 50 day moving average price of $33.42 and a 200-day moving average price of $32.55. United Community Banks, Inc. has a 52 week low of $27.62 and a 52 week high of $39.32. The firm has a market capitalization of $3.57 billion, a PE ratio of 13.97 and a beta of 1.04. 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 announced 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 return on equity of 11.27% and a net
margin of 30.10%. The company had revenue of $212.36 million during the quarter, compared to the consensus estimate of $213.19 million. During the same quarter in the prior year, the firm earned $0.79 earnings per share. The business's revenue was up 21.9% compared to the same quarter last year. As a group, equities research analysts expect 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 declared a quarterly dividend, which will be paid on Wednesday, October 5th. Stockholders of record on Thursday, September 15th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This is a positive change from United Community Banks's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.61%. United Community Banks's payout ratio is currently 36.51%.
Analysts Set New Price Targets
A number of analysts have weighed in on UCBI shares. Piper Sandler reduced their price objective on shares of United Community Banks to $36.00 in a research note on Friday, July 22nd. StockNews.com upgraded shares of United Community Banks from a "sell" rating to a "hold" rating in a research note on Friday, September 9th. Finally, Truist Financial reduced their price objective on shares of United Community Banks from $34.00 to $32.00 in a research note on Wednesday, June 15th.
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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