Comerica Bank reduced its position in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 0.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 74,781 shares of the financial services provider’s stock after selling 469 shares during the period. Comerica Bank owned about 0.09% of United Community Banks worth $2,274,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in UCBI. Advisory Services Network LLC purchased a new stake in shares of United Community Banks during the 2nd quarter worth $25,000. First Mercantile Trust Co. purchased a new stake in shares of United Community Banks during the 2nd quarter worth $54,000. Strs Ohio purchased a new stake in shares of United Community Banks during the 2nd quarter worth $65,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of United Community Banks by 20.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,837 shares of the financial services provider’s stock worth $137,000 after purchasing an additional 805 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. purchased a new stake in shares of United Community Banks during the 1st quarter worth $165,000. 92.21% of the stock is owned by institutional investors and hedge funds.
In related news, CAO Alan H. Kumler sold 3,000 shares of United Community Banks stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $28.00, for a total transaction of $84,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold a total of 11,924 shares of company stock worth $347,834 over the last quarter. 1.18% of the stock is owned by company insiders.
United Community Banks (NASDAQ:UCBI) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.05. United Community Banks had a net margin of 27.87% and a return on equity of 12.24%. The firm had revenue of $148.37 million for the quarter, compared to analyst estimates of $143.91 million. During the same period last year, the business earned $0.55 EPS. United Community Banks’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, sell-side analysts anticipate that United Community Banks, Inc. will post 2.35 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Monday, December 16th will be paid a dividend of $0.18 per share. This is a positive change from United Community Banks’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 2.31%. The ex-dividend date is Friday, December 13th. United Community Banks’s dividend payout ratio (DPR) is currently 31.78%.
UCBI has been the subject of several recent analyst reports. DA Davidson initiated coverage on shares of United Community Banks in a research report on Tuesday, August 20th. They set a “neutral” rating for the company. Zacks Investment Research raised shares of United Community Banks from a “sell” rating to a “hold” rating in a research report on Friday, September 27th. ValuEngine lowered shares of United Community Banks from a “hold” rating to a “sell” rating in a research note on Tuesday, October 15th. Stephens reiterated a “hold” rating and set a $29.00 price target on shares of United Community Banks in a research note on Tuesday, October 22nd. Finally, BidaskClub upgraded shares of United Community Banks from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $30.25.
About United Community Banks
United Community Banks, Inc operates as the bank holding company for United Community Bank that provides retail and corporate banking services to individuals and businesses. It offers various deposit accounts, such as checking accounts, savings and time deposits accounts, NOW accounts, money market deposits, and certificates of deposit.
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