Stieven Capital Advisors L.P. Acquires Shares of 180,000 United Community Banks, Inc. $UCB
by Sarita Garza · The Markets DailyStieven Capital Advisors L.P. acquired a new position in United Community Banks, Inc. (NYSE:UCB – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 180,000 shares of the company’s stock, valued at approximately $5,362,000. Stieven Capital Advisors L.P. owned 0.15% of United Community Banks at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the stock. State of Wyoming boosted its position in United Community Banks by 9.4% in the 1st quarter. State of Wyoming now owns 4,010 shares of the company’s stock valued at $113,000 after buying an additional 344 shares during the period. Amalgamated Bank increased its holdings in United Community Banks by 1.6% during the 2nd quarter. Amalgamated Bank now owns 34,550 shares of the company’s stock worth $1,029,000 after purchasing an additional 534 shares during the period. Great Lakes Advisors LLC raised its position in United Community Banks by 0.6% during the 1st quarter. Great Lakes Advisors LLC now owns 94,983 shares of the company’s stock valued at $2,672,000 after purchasing an additional 584 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of United Community Banks by 1.1% in the 2nd quarter. Louisiana State Employees Retirement System now owns 56,800 shares of the company’s stock worth $1,692,000 after buying an additional 600 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of United Community Banks by 0.6% during the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 127,626 shares of the company’s stock worth $3,802,000 after buying an additional 703 shares in the last quarter. Hedge funds and other institutional investors own 82.29% of the company’s stock.
United Community Banks Price Performance
NYSE:UCB opened at $29.74 on Friday. The company has a 50-day moving average price of $30.66. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.04. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 11.80 and a beta of 0.91. United Community Banks, Inc. has a 1-year low of $22.93 and a 1-year high of $35.38.
United Community Banks (NYSE:UCB – Get Free Report) last posted its quarterly earnings data on Wednesday, October 22nd. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.70 by $0.05. United Community Banks had a net margin of 20.67% and a return on equity of 9.42%. The business had revenue of $276.85 million during the quarter, compared to analyst estimates of $270.85 million. During the same quarter last year, the firm posted $0.57 earnings per share. The business’s revenue for the quarter was up 27.4% compared to the same quarter last year.
United Community Banks Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, December 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, December 15th. United Community Banks’s dividend payout ratio (DPR) is presently 39.68%.
Insiders Place Their Bets
In related news, EVP Richard Bradshaw sold 1,654 shares of United Community Banks stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $30.23, for a total value of $50,000.42. Following the completion of the transaction, the executive vice president owned 75,226 shares in the company, valued at $2,274,081.98. The trade was a 2.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.43% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
UCB has been the subject of a number of research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of United Community Banks in a research note on Wednesday, October 8th. DA Davidson increased their target price on United Community Banks from $34.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Keefe, Bruyette & Woods boosted their price target on United Community Banks from $32.00 to $34.00 and gave the stock a “market perform” rating in a research report on Monday, July 28th. Wall Street Zen raised United Community Banks from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Hovde Group lifted their target price on United Community Banks from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $35.33.
Check Out Our Latest Report on United Community Banks
About United Community Banks
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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