United Community Banks, Inc. (UCBI) Position Decreased by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. decreased its stake in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 54.7% during the second quarter, Holdings Channel reports. The fund owned 8,285 shares of the financial services provider’s stock after selling 10,011 shares during the period. PNC Financial Services Group Inc.’s holdings in United Community Banks were worth $151,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in UCBI. Legal & General Group Plc increased its position in United Community Banks by 14.3% in the first quarter. Legal & General Group Plc now owns 8,500 shares of the financial services provider’s stock worth $157,000 after buying an additional 1,063 shares in the last quarter. HBK Investments L P bought a new position in United Community Banks during the first quarter worth $251,000. Quantbot Technologies LP increased its position in United Community Banks by 39.5% in the second quarter. Quantbot Technologies LP now owns 15,539 shares of the financial services provider’s stock worth $284,000 after buying an additional 4,403 shares in the last quarter. Adams Diversified Equity Fund Inc. bought a new position in United Community Banks during the second quarter worth $316,000. Finally, Capstone Asset Management Co. increased its position in United Community Banks by 12.5% in the second quarter. Capstone Asset Management Co. now owns 17,615 shares of the financial services provider’s stock worth $322,000 after buying an additional 1,960 shares in the last quarter.
Shares of United Community Banks, Inc. (NASDAQ:UCBI) traded up 0.19% during trading on Friday, hitting $21.45. 363,535 shares of the stock were exchanged. The stock has a market cap of $1.52 billion and a price-to-earnings ratio of 18.15. United Community Banks, Inc. has a 12-month low of $15.74 and a 12-month high of $22.23. The stock’s 50 day moving average is $20.68 and its 200-day moving average is $19.57.
United Community Banks (NASDAQ:UCBI) last released its earnings results on Wednesday, July 27th. The financial services provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. During the same quarter in the previous year, the company earned $0.32 earnings per share. Equities research analysts anticipate that United Community Banks, Inc. will post $1.43 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 5th. Stockholders of record on Thursday, September 15th were given a $0.08 dividend. This is an increase from United Community Banks’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Tuesday, September 13th.
UCBI has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of United Community Banks from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Saturday, July 9th. Raymond James Financial Inc. raised shares of United Community Banks from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from $22.00 to $24.00 in a research note on Thursday.
About United Community Banks
United Community Banks, Inc is a bank holding company. The Company’s principal business is conducted by its subsidiary, United Community Bank (the Bank). The Bank is a chartered commercial bank that serves markets throughout north Georgia, coastal Georgia, the Atlanta-Sandy Springs-Roswell, Georgia and Gainesville, Georgia metropolitan statistical areas, western North Carolina, upstate South Carolina and east Tennessee.
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