ProShare Advisors LLC Lowers Stock Holdings in United Community Banks, Inc. $UCB

ProShare Advisors LLC cut its holdings in shares of United Community Banks, Inc. (NYSE:UCB) by 12.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 234,916 shares of the company’s stock after selling 32,342 shares during the quarter. ProShare Advisors LLC owned 0.19% of United Community Banks worth $6,998,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of United Community Banks by 2.9% in the first quarter. Vanguard Group Inc. now owns 14,336,816 shares of the company’s stock valued at $403,295,000 after acquiring an additional 404,866 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in United Community Banks by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,151,914 shares of the company’s stock worth $173,047,000 after purchasing an additional 92,952 shares during the period. Invesco Ltd. raised its position in United Community Banks by 4.1% in the 1st quarter. Invesco Ltd. now owns 1,513,333 shares of the company’s stock valued at $42,570,000 after purchasing an additional 59,902 shares in the last quarter. Charles Schwab Investment Management Inc. acquired a new stake in United Community Banks in the 1st quarter valued at about $40,871,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of United Community Banks in the 1st quarter valued at about $34,780,000. Institutional investors and hedge funds own 82.29% of the company’s stock.

Insider Activity at United Community Banks

In related news, EVP Richard Bradshaw sold 1,654 shares of the firm’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $30.23, for a total transaction of $50,000.42. Following the transaction, the executive vice president owned 75,226 shares of the company’s stock, valued at $2,274,081.98. This trade represents a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

UCB has been the topic of several analyst reports. Wall Street Zen raised shares of United Community Banks from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Hovde Group raised their price objective on shares of United Community Banks from $35.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of United Community Banks in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods increased their target price on United Community Banks from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Monday, July 28th. Finally, DA Davidson upped their price target on United Community Banks from $34.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $35.33.

United Community Banks Trading Down 0.6%

Shares of NYSE UCB opened at $30.10 on Thursday. The stock has a market capitalization of $3.66 billion, a PE ratio of 11.94 and a beta of 0.91. United Community Banks, Inc. has a twelve month low of $22.93 and a twelve month high of $35.38. The company has a 50 day moving average price of $31.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.80 and a current ratio of 0.80.

United Community Banks (NYSE:UCB) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.05. United Community Banks had a net margin of 20.67% and a return on equity of 9.42%. The firm had revenue of $276.85 million during the quarter, compared to analysts’ expectations of $270.85 million. During the same quarter in the prior year, the business earned $0.57 EPS. United Community Banks’s quarterly revenue was up 27.4% compared to the same quarter last 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. The company accepts various deposit products, including checking, savings, money market, and other deposit accounts.