Intech Investment Management LLC Sells 21,169 Shares of United Community Banks, Inc. $UCB

Intech Investment Management LLC trimmed its holdings in United Community Banks, Inc. (NYSE:UCB) by 13.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 131,784 shares of the company’s stock after selling 21,169 shares during the period. Intech Investment Management LLC owned 0.11% of United Community Banks worth $3,926,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Quarry LP bought a new stake in United Community Banks in the 1st quarter valued at $26,000. Hantz Financial Services Inc. increased its holdings in shares of United Community Banks by 213.8% in the second quarter. Hantz Financial Services Inc. now owns 1,048 shares of the company’s stock valued at $31,000 after purchasing an additional 714 shares during the last quarter. CWM LLC acquired a new position in shares of United Community Banks in the first quarter valued at $62,000. Geneos Wealth Management Inc. bought a new position in shares of United Community Banks in the first quarter valued at about $67,000. Finally, Allworth Financial LP lifted its stake in shares of United Community Banks by 13,585.0% during the 2nd quarter. Allworth Financial LP now owns 2,737 shares of the company’s stock worth $82,000 after buying an additional 2,717 shares during the last quarter. 82.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Richard Bradshaw sold 1,654 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $30.23, for a total transaction of $50,000.42. Following the completion of the sale, the executive vice president owned 75,226 shares of the company’s stock, valued at $2,274,081.98. This represents a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.43% of the stock is owned by corporate insiders.

United Community Banks Trading Up 1.6%

Shares of UCB stock opened at $29.39 on Wednesday. The company has a market capitalization of $3.57 billion, a PE ratio of 11.66 and a beta of 0.91. United Community Banks, Inc. has a 1 year low of $22.93 and a 1 year high of $35.38. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.04. The company has a 50 day moving average of $30.78.

United Community Banks (NYSE:UCB) last announced its quarterly earnings data on Wednesday, October 22nd. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.05. The firm had revenue of $276.85 million during the quarter, compared to analysts’ expectations of $270.85 million. United Community Banks had a return on equity of 9.42% and a net margin of 20.67%.The company’s quarterly revenue was up 27.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.57 EPS.

United Community Banks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Monday, December 15th. United Community Banks’s payout ratio is 39.68%.

Analysts Set New Price Targets

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

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