HoldCo Asset Management LP Trims Stock Holdings in United Community Banks, Inc. (NASDAQ:UCBI)

HoldCo Asset Management LP decreased its holdings in United Community Banks, Inc. (NASDAQ:UCBIGet Rating) by 91.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,608 shares of the financial services provider’s stock after selling 359,033 shares during the period. United Community Banks accounts for about 0.6% of HoldCo Asset Management LP’s holdings, making the stock its 15th biggest position. HoldCo Asset Management LP’s holdings in United Community Banks were worth $1,015,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Advisor Group Holdings Inc. increased its stake in shares of United Community Banks by 6.8% in the first quarter. Advisor Group Holdings Inc. now owns 5,498 shares of the financial services provider’s stock worth $173,000 after purchasing an additional 351 shares in the last quarter. Profund Advisors LLC increased its stake in shares of United Community Banks by 4.3% in the first quarter. Profund Advisors LLC now owns 10,822 shares of the financial services provider’s stock worth $377,000 after purchasing an additional 442 shares in the last quarter. Family Legacy Inc. increased its stake in shares of United Community Banks by 1.6% in the second quarter. Family Legacy Inc. now owns 27,669 shares of the financial services provider’s stock worth $858,000 after purchasing an additional 448 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of United Community Banks by 4.8% in the second quarter. Sequoia Financial Advisors LLC now owns 10,477 shares of the financial services provider’s stock worth $316,000 after purchasing an additional 477 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its position in shares of United Community Banks by 0.5% in the first quarter. Great West Life Assurance Co. Can now owns 90,617 shares of the financial services provider’s stock valued at $3,234,000 after acquiring an additional 482 shares during the period. Hedge funds and other institutional investors own 84.78% of the company’s stock.

United Community Banks Price Performance

United Community Banks stock traded down $0.07 during mid-day trading on Thursday, hitting $39.10. 501,702 shares of the company traded hands, compared to its average volume of 587,760. The stock has a market cap of $4.15 billion, a price-to-earnings ratio of 16.78 and a beta of 1.02. United Community Banks, Inc. has a one year low of $27.85 and a one year high of $39.42. The stock has a fifty day moving average price of $36.14 and a 200-day moving average price of $33.40. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.73 and a current ratio of 0.74.

United Community Banks (NASDAQ:UCBIGet Rating) last posted its quarterly earnings results on Wednesday, October 19th. The financial services provider reported $0.75 EPS for the quarter, hitting the consensus estimate of $0.75. United Community Banks had a net margin of 28.92% and a return on equity of 10.99%. The firm had revenue of $231.70 million for the quarter, compared to the consensus estimate of $226.68 million. During the same period last year, the firm posted $0.83 earnings per share. The business’s revenue was up 27.9% compared to the same quarter last year. On average, equities analysts predict that United Community Banks, Inc. will post 2.75 earnings per share for the current fiscal year.

United Community Banks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 5th. Investors of record on Thursday, December 15th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Wednesday, December 14th. United Community Banks’s payout ratio is 37.77%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on UCBI shares. Piper Sandler raised their price objective on shares of United Community Banks from $36.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday, October 20th. StockNews.com lowered shares of United Community Banks from a “hold” rating to a “sell” rating in a research report on Thursday, October 20th.

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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Institutional Ownership by Quarter for United Community Banks (NASDAQ:UCBI)

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