Equitable Trust Co. Purchases Shares of 7,255 United Community Banks, Inc. (NASDAQ:UCB)

Equitable Trust Co. purchased a new stake in United Community Banks, Inc. (NASDAQ:UCB) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 7,255 shares of the company’s stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of UCB. Commonwealth Equity Services LLC purchased a new stake in United Community Banks during the fourth quarter valued at approximately $273,000. American Century Companies Inc. acquired a new position in shares of United Community Banks during the fourth quarter worth $5,951,000. Sei Investments Co. acquired a new position in shares of United Community Banks during the fourth quarter worth $11,881,000. KLP Kapitalforvaltning AS purchased a new stake in shares of United Community Banks during the 4th quarter valued at $771,000. Finally, LPL Financial LLC acquired a new stake in shares of United Community Banks in the 4th quarter worth $1,246,000. Hedge funds and other institutional investors own 82.29% of the company’s stock.

United Community Banks Trading Up 0.6%

United Community Banks stock opened at $31.55 on Monday. The stock has a 50-day moving average price of $29.80 and a 200 day moving average price of $29.61. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 15.46 and a beta of 0.78. United Community Banks, Inc. has a 52 week low of $22.93 and a 52 week high of $35.38. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.08.

United Community Banks (NASDAQ:UCB) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. United Community Banks had a net margin of 16.48% and a return on equity of 8.64%. The business’s revenue was up 6.1% compared to the same quarter last year. Sell-side analysts anticipate that United Community Banks, Inc. will post 2.52 EPS for the current year.

United Community Banks Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Sunday, June 15th were issued a dividend of $0.24 per share. The ex-dividend date was Friday, June 13th. This represents a $0.96 annualized dividend and a dividend yield of 3.04%. United Community Banks’s dividend payout ratio (DPR) is presently 43.64%.

Analyst Ratings Changes

UCB has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reduced their target price on United Community Banks from $35.00 to $32.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 30th. DA Davidson upped their price objective on shares of United Community Banks from $34.00 to $36.00 and gave the company a “buy” rating in a report on Thursday. Hovde Group lifted their target price on shares of United Community Banks from $35.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday. Raymond James Financial restated a “market perform” rating on shares of United Community Banks in a research note on Tuesday, July 8th. Finally, Stephens reaffirmed an “overweight” rating and issued a $36.00 price target on shares of United Community Banks in a report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, United Community Banks currently has an average rating of “Hold” and a consensus target price of $34.29.

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