Vanguard Group Inc. increased its stake in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 8.0% during the first quarter, Holdings Channel reports. The institutional investor owned 6,111,857 shares of the financial services provider’s stock after buying an additional 451,364 shares during the period. Vanguard Group Inc. owned 0.09% of United Community Banks worth $169,237,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Meadow Creek Investment Management LLC bought a new stake in shares of United Community Banks during the first quarter valued at $101,000. Cypress Capital Management LLC WY bought a new stake in shares of United Community Banks during the first quarter valued at $122,000. Glen Harbor Capital Management LLC bought a new stake in shares of United Community Banks during the first quarter valued at $122,000. LS Investment Advisors LLC boosted its stake in shares of United Community Banks by 89.3% in the first quarter. LS Investment Advisors LLC now owns 4,993 shares of the financial services provider’s stock valued at $138,000 after buying an additional 2,355 shares in the last quarter. Finally, Ameritas Investment Partners Inc. bought a new stake in shares of United Community Banks during the first quarter valued at $168,000. Hedge funds and other institutional investors own 92.28% of the company’s stock.

United Community Banks, Inc. (UCBI) opened at 28.27 on Thursday. United Community Banks, Inc. has a 52-week low of $18.78 and a 52-week high of $30.47. The company has a market capitalization of $2.01 billion, a PE ratio of 19.92 and a beta of 0.88. The company has a 50 day moving average of $27.40 and a 200 day moving average of $27.77.

United Community Banks (NASDAQ:UCBI) last issued its earnings results on Wednesday, April 26th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. The company had revenue of $104.83 million for the quarter, compared to the consensus estimate of $104.30 million. United Community Banks had a return on equity of 10.28% and a net margin of 23.03%. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the company earned $0.33 EPS. On average, equities research analysts forecast that United Community Banks, Inc. will post $1.62 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Thursday, June 15th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend was Tuesday, June 13th. This is an increase from United Community Banks’s previous quarterly dividend of $0.08. United Community Banks’s dividend payout ratio (DPR) is 25.35%.

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Several brokerages have recently weighed in on UCBI. ValuEngine upgraded United Community Banks from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub cut United Community Banks from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. UBS AG upgraded United Community Banks from a “market perform” rating to an “outperform” rating in a research report on Wednesday, May 3rd. Stephens reiterated a “hold” rating and set a $30.00 price target on shares of United Community Banks in a research report on Tuesday, June 27th. Finally, Zacks Investment Research upgraded United Community Banks from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research report on Friday, June 30th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. United Community Banks currently has a consensus rating of “Buy” and a consensus price target of $31.00.

United Community Banks Company Profile

United Community Banks, Inc (United) is a bank holding company. United conducts its operations through a community-focused operating model of separate community banks, which, as of December 31, 2016, operated at 139 locations throughout the Atlanta-Sandy Springs-Roswell, Georgia, and Gainesville, Georgia metropolitan statistical areas, upstate and coastal South Carolina, north and coastal Georgia, western North Carolina, and east Tennessee.

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Institutional Ownership by Quarter for United Community Banks (NASDAQ:UCBI)

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