NGAM Advisors L.P. acquired a new position in United Community Banks, Inc. (NASDAQ:UCBI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 139,034 shares of the financial services provider’s stock, valued at approximately $3,865,000.

Several other institutional investors have also added to or reduced their stakes in UCBI. Meadow Creek Investment Management LLC acquired a new position in United Community Banks during the first quarter worth approximately $101,000. Cypress Capital Management LLC WY acquired a new position in United Community Banks during the first quarter worth approximately $122,000. Glen Harbor Capital Management LLC acquired a new position in United Community Banks during the first quarter worth approximately $122,000. LS Investment Advisors LLC increased its position in 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 worth $138,000 after buying an additional 2,355 shares during the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new position in United Community Banks during the first quarter worth approximately $168,000. 94.50% of the stock is owned by institutional investors.

United Community Banks, Inc. (UCBI) opened at 27.26 on Wednesday. The company’s 50-day moving average is $27.89 and its 200 day moving average is $27.72. United Community Banks, Inc. has a one year low of $19.25 and a one year high of $30.47. The company has a market capitalization of $1.93 billion, a P/E ratio of 18.67 and a beta of 0.88.

United Community Banks (NASDAQ:UCBI) last posted its earnings results on Wednesday, July 26th. The financial services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. The firm had revenue of $108 million during the quarter, compared to analysts’ expectations of $110.49 million. United Community Banks had a net margin of 23.07% and a return on equity of 10.42%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 earnings per share. Analysts predict that United Community Banks, Inc. will post $1.63 EPS for the current year.

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UCBI has been the subject of several analyst reports. Zacks Investment Research downgraded shares of United Community Banks from a “buy” rating to a “hold” rating in a report on Wednesday, May 3rd. Hovde Group raised shares of United Community Banks from a “market perform” rating to an “outperform” rating and set a $31.00 price target for the company in a report on Wednesday, May 3rd. Stephens reissued a “hold” rating and set a $30.00 price target on shares of United Community Banks in a report on Tuesday, June 27th. ValuEngine raised shares of United Community Banks from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, BidaskClub downgraded shares of United Community Banks from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $30.67.

About United Community Banks

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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