Great Lakes Advisors LLC reduced its holdings in shares of United Community Banks, Inc. (NASDAQ:UCBI – Free Report) by 17.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 153,038 shares of the financial services provider’s stock after selling 31,698 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.13% of United Community Banks worth $3,824,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Beacon Capital Management LLC bought a new position in United Community Banks during the second quarter worth $26,000. Eagle Bay Advisors LLC boosted its holdings in shares of United Community Banks by 97.5% during the 2nd quarter. Eagle Bay Advisors LLC now owns 960 shares of the financial services provider’s stock worth $29,000 after buying an additional 474 shares during the period. Belpointe Asset Management LLC grew its stake in United Community Banks by 113.1% in the 1st quarter. Belpointe Asset Management LLC now owns 1,385 shares of the financial services provider’s stock valued at $39,000 after buying an additional 735 shares during the last quarter. Jones Financial Companies Lllp bought a new position in United Community Banks in the 2nd quarter valued at about $86,000. Finally, Money Concepts Capital Corp acquired a new stake in United Community Banks during the fourth quarter worth approximately $105,000. 80.99% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts have recently commented on the company. Piper Sandler downgraded United Community Banks from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $31.00 to $27.00 in a research report on Thursday, October 19th. Truist Financial lowered their price objective on United Community Banks from $30.00 to $26.00 and set a “hold” rating on the stock in a research report on Wednesday, September 27th. StockNews.com raised shares of United Community Banks to a “sell” rating in a research report on Friday, November 10th. Finally, DA Davidson lowered their price target on shares of United Community Banks from $31.50 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, September 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $29.20.
United Community Banks Stock Performance
NASDAQ:UCBI opened at $24.93 on Tuesday. The company has a market cap of $2.97 billion, a price-to-earnings ratio of 11.44 and a beta of 1.01. United Community Banks, Inc. has a fifty-two week low of $20.37 and a fifty-two week high of $39.50. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a fifty day moving average price of $24.42 and a 200-day moving average price of $25.44.
United Community Banks (NASDAQ:UCBI – Get Free Report) last posted its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.01. United Community Banks had a net margin of 20.05% and a return on equity of 9.33%. The business had revenue of $355.12 million during the quarter, compared to analysts’ expectations of $246.45 million. During the same quarter in the prior year, the business posted $0.75 earnings per share. As a group, equities analysts anticipate that United Community Banks, Inc. will post 2.11 EPS for the current fiscal year.
United Community Banks Company 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.
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