Fisher Asset Management LLC Sells 58,009 Shares of United Community Banks, Inc. $UCB

Fisher Asset Management LLC decreased its holdings in shares of United Community Banks, Inc. (NYSE:UCB) by 5.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 990,165 shares of the company’s stock after selling 58,009 shares during the quarter. Fisher Asset Management LLC’s holdings in United Community Banks were worth $30,913,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of UCB. Royal Bank of Canada raised its holdings in United Community Banks by 7.0% during the 1st quarter. Royal Bank of Canada now owns 55,319 shares of the company’s stock valued at $1,557,000 after acquiring an additional 3,617 shares during the period. AQR Capital Management LLC raised its holdings in United Community Banks by 176.2% during the 1st quarter. AQR Capital Management LLC now owns 26,530 shares of the company’s stock valued at $746,000 after acquiring an additional 16,925 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in United Community Banks by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,211 shares of the company’s stock valued at $2,003,000 after acquiring an additional 3,115 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in United Community Banks during the 1st quarter valued at $219,000. Finally, United Services Automobile Association bought a new stake in United Community Banks during the 1st quarter valued at $204,000. Institutional investors own 82.29% of the company’s stock.

Insider Transactions at United Community Banks

In related news, EVP Richard Bradshaw sold 1,510 shares of the company’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $33.09, for a total value of $49,965.90. Following the completion of the transaction, the executive vice president directly owned 84,497 shares in the company, valued at approximately $2,796,005.73. The trade was a 1.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.45% of the company’s stock.

Wall Street Analyst Weigh In

UCB has been the topic of a number of analyst reports. Weiss Ratings raised shares of United Community Banks from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, March 3rd. Keefe, Bruyette & Woods raised shares of United Community Banks from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $36.00 to $40.00 in a report on Thursday, April 9th. Piper Sandler upped their price target on shares of United Community Banks from $35.00 to $36.00 and gave the stock a “neutral” rating in a report on Wednesday, April 22nd. Zacks Research cut shares of United Community Banks from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Finally, Hovde Group decreased their price target on shares of United Community Banks from $38.00 to $37.00 and set a “market perform” rating on the stock in a report on Monday, April 27th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.40.

United Community Banks Trading Up 1.1%

United Community Banks stock opened at $33.57 on Wednesday. The stock has a market cap of $4.02 billion, a P/E ratio of 12.34 and a beta of 0.83. United Community Banks, Inc. has a fifty-two week low of $27.23 and a fifty-two week high of $36.77. The firm’s fifty day moving average price is $32.57 and its 200-day moving average price is $32.51. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.82 and a current ratio of 0.82.

United Community Banks (NYSE:UCB) last released its quarterly earnings results on Tuesday, April 21st. The company reported $0.70 earnings per share for the quarter, hitting the consensus estimate of $0.70. United Community Banks had a net margin of 22.05% and a return on equity of 9.65%. The firm had revenue of $278.27 million for the quarter. During the same period in the previous year, the company posted $0.58 EPS. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities research analysts forecast that United Community Banks, Inc. will post 2.99 earnings per share for the current fiscal year.

United Community Banks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 3rd. Investors of record on Monday, June 15th will be given a $0.25 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.00 annualized dividend and a yield of 3.0%. United Community Banks’s payout ratio is 36.76%.

United Community Banks Profile

United Community Banks, Inc (NYSE: UCB) is a bank holding company headquartered in Blairsville, Georgia. It operates primarily through its subsidiary, United Community Bank, providing a broad range of banking and financial services to individual, business and governmental customers. The company’s core offerings include deposit accounts, commercial and consumer lending, mortgage origination, treasury and cash management services, and wealth management.

In addition to traditional banking products such as checking, savings and money market accounts, United Community Bank specializes in commercial real estate financing, small business administration (SBA) loans, equipment financing and agricultural lending.