United Community Banks, Inc. (NASDAQ:UCBI) Shares Purchased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D raised its stake in United Community Banks, Inc. (NASDAQ:UCBI) by 11.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 102,857 shares of the financial services provider’s stock after purchasing an additional 10,801 shares during the period. State of New Jersey Common Pension Fund D owned 0.09% of United Community Banks worth $3,010,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of United Community Banks by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 13,278,707 shares of the financial services provider’s stock worth $337,412,000 after purchasing an additional 245,944 shares during the last quarter. FMR LLC increased its position in shares of United Community Banks by 15.1% in the 3rd quarter. FMR LLC now owns 8,518,870 shares of the financial services provider’s stock worth $216,464,000 after purchasing an additional 1,117,539 shares during the last quarter. Northern Trust Corp increased its position in shares of United Community Banks by 21.4% in the 3rd quarter. Northern Trust Corp now owns 1,913,924 shares of the financial services provider’s stock worth $48,633,000 after purchasing an additional 337,102 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of United Community Banks by 17.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,772,058 shares of the financial services provider’s stock worth $45,028,000 after purchasing an additional 265,356 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of United Community Banks by 7.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,169,530 shares of the financial services provider’s stock worth $29,718,000 after purchasing an additional 78,319 shares during the last quarter. Institutional investors own 82.29% of the company’s stock.

United Community Banks Trading Up 0.6 %

Shares of NASDAQ UCBI opened at $25.98 on Friday. The company has a market cap of $3.09 billion, a price-to-earnings ratio of 16.87 and a beta of 0.94. United Community Banks, Inc. has a 12-month low of $20.37 and a 12-month high of $30.75. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.10. The stock’s 50 day simple moving average is $25.57 and its 200 day simple moving average is $26.22.

United Community Banks (NASDAQ:UCBI) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.02. The business had revenue of $225.80 million for the quarter, compared to the consensus estimate of $232.00 million. United Community Banks had a return on equity of 8.02% and a net margin of 13.62%. The business’s revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the business posted $0.58 EPS. Equities research analysts expect that United Community Banks, Inc. will post 2.09 EPS for the current year.

United Community Banks Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend was Thursday, March 14th. United Community Banks’s payout ratio is currently 59.74%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on UCBI. Truist Financial dropped their target price on shares of United Community Banks from $31.00 to $28.00 and set a “hold” rating for the company in a research report on Monday, April 1st. StockNews.com raised shares of United Community Banks to a “sell” rating in a report on Wednesday, January 17th. TheStreet lowered United Community Banks from a “b” rating to a “c+” rating in a report on Wednesday, January 24th. Piper Sandler dropped their price target on United Community Banks from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, DA Davidson reissued a “buy” rating on shares of United Community Banks in a report on Monday, January 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, United Community Banks has an average rating of “Hold” and a consensus price target of $30.60.

United Community Banks Profile

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. It accepts various deposit products, including checking, savings, money market, and other deposit accounts.