California Public Employees Retirement System increased its stake in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 4.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 101,700 shares of the financial services provider’s stock after buying an additional 4,100 shares during the period. California Public Employees Retirement System owned about 0.14% of United Community Banks worth $2,816,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Teachers Advisors LLC boosted its stake in United Community Banks by 4.7% in the first quarter. Teachers Advisors LLC now owns 737,195 shares of the financial services provider’s stock valued at $20,413,000 after buying an additional 32,791 shares during the period. FMR LLC boosted its stake in United Community Banks by 1.7% in the first quarter. FMR LLC now owns 1,759,350 shares of the financial services provider’s stock valued at $48,716,000 after buying an additional 28,600 shares during the period. Principal Financial Group Inc. boosted its stake in United Community Banks by 4.7% in the first quarter. Principal Financial Group Inc. now owns 554,149 shares of the financial services provider’s stock valued at $15,344,000 after buying an additional 24,752 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in United Community Banks by 1.0% in the first quarter. Municipal Employees Retirement System of Michigan now owns 19,580 shares of the financial services provider’s stock valued at $542,000 after buying an additional 190 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its stake in United Community Banks by 56.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 49,920 shares of the financial services provider’s stock valued at $1,382,000 after buying an additional 17,953 shares during the period. Institutional investors and hedge funds own 92.28% of the company’s stock.

Shares of United Community Banks, Inc. (NASDAQ UCBI) opened at 28.38 on Monday. The company has a market cap of $2.01 billion, a PE ratio of 20.00 and a beta of 0.88. The stock’s 50 day moving average is $27.48 and its 200-day moving average is $27.78. United Community Banks, Inc. has a one year low of $18.78 and a one year high of $30.47.

United Community Banks (NASDAQ:UCBI) last posted its quarterly earnings results on Wednesday, April 26th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. United Community Banks had a return on equity of 8.67% and a net margin of 22.27%. The business had revenue of $104.83 million for the quarter, compared to the consensus estimate of $104.30 million. During the same quarter in the prior year, the company earned $0.33 EPS. The business’s revenue was up 11.8% compared to the same quarter last year. Equities research analysts expect that United Community Banks, Inc. will post $1.62 earnings per share for the current year.

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

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Several analysts recently weighed in on the stock. BidaskClub cut shares of United Community Banks from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Zacks Investment Research cut shares of United Community Banks from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Stephens reiterated a “hold” rating and issued a $30.00 price target on shares of United Community Banks in a report on Tuesday, June 27th. ValuEngine upgraded shares of United Community Banks from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, UBS AG upgraded shares of United Community Banks from a “market perform” rating to an “outperform” rating in a report on Wednesday, May 3rd. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company 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.

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

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