M&T Bank Corp Increases Stock Holdings in United Community Banks, Inc. (NASDAQ:UCBI)

M&T Bank Corp lifted its stake in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 17.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 101,625 shares of the financial services provider’s stock after buying an additional 14,820 shares during the quarter. M&T Bank Corp owned about 0.09% of United Community Banks worth $2,973,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Carmel Capital Partners LLC acquired a new position in United Community Banks in the 3rd quarter valued at about $36,000. GAMMA Investing LLC purchased a new stake in shares of United Community Banks in the fourth quarter valued at about $72,000. SG Americas Securities LLC acquired a new position in shares of United Community Banks during the fourth quarter worth about $115,000. Strs Ohio raised its holdings in United Community Banks by 17.6% during the fourth quarter. Strs Ohio now owns 6,000 shares of the financial services provider’s stock worth $175,000 after purchasing an additional 900 shares in the last quarter. Finally, Xponance Inc. acquired a new stake in United Community Banks in the fourth quarter valued at about $205,000. 82.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on UCBI. DA Davidson reissued a “buy” rating on shares of United Community Banks in a research note on Monday, January 15th. StockNews.com raised shares of United Community Banks to a “sell” rating in a research note on Wednesday, January 17th. Piper Sandler lowered their price target on shares of United Community Banks from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Truist Financial dropped their price target on 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. Finally, TheStreet cut United Community Banks from a “b” rating to a “c+” rating in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, United Community Banks currently has an average rating of “Hold” and an average target price of $30.60.

United Community Banks Trading Down 0.4 %

Shares of United Community Banks stock opened at $26.28 on Wednesday. The firm has a market cap of $3.13 billion, a PE ratio of 17.06 and a beta of 0.92. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10. United Community Banks, Inc. has a fifty-two week low of $20.78 and a fifty-two week high of $30.75. The business’s fifty day moving average is $25.52 and its two-hundred day moving average is $26.28.

United Community Banks (NASDAQ:UCBI) last released its earnings results on Wednesday, April 24th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. The firm had revenue of $225.80 million during the quarter, compared to the consensus estimate of $232.00 million. United Community Banks had a net margin of 13.62% and a return on equity of 8.02%. United Community Banks’s revenue was down 6.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.58 earnings per share. Analysts anticipate that United Community Banks, Inc. will post 2.12 earnings per share for the current year.

United Community Banks Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.92 annualized dividend and a dividend yield of 3.50%. United Community Banks’s payout ratio is currently 59.74%.

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.