ClariVest Asset Management LLC raised its position in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 23.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 373,939 shares of the financial services provider’s stock after buying an additional 70,869 shares during the period. ClariVest Asset Management LLC’s holdings in United Community Banks were worth $10,395,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. BlackRock Inc. raised its stake in United Community Banks by 20,108.8% in the first quarter. BlackRock Inc. now owns 9,233,176 shares of the financial services provider’s stock valued at $255,666,000 after buying an additional 9,187,487 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in United Community Banks during the second quarter valued at about $46,246,000. State Street Corp raised its stake in United Community Banks by 53.8% in the first quarter. State Street Corp now owns 3,289,230 shares of the financial services provider’s stock valued at $91,081,000 after buying an additional 1,151,048 shares in the last quarter. Schroder Investment Management Group raised its stake in United Community Banks by 37.6% in the first quarter. Schroder Investment Management Group now owns 1,978,781 shares of the financial services provider’s stock valued at $55,307,000 after buying an additional 540,965 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in United Community Banks by 8.0% in the first quarter. Vanguard Group Inc. now owns 6,111,857 shares of the financial services provider’s stock valued at $169,237,000 after buying an additional 451,364 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors.

Shares of United Community Banks, Inc. (NASDAQ UCBI) opened at 25.80 on Friday. The company’s 50 day moving average price is $27.76 and its 200 day moving average price is $27.68. United Community Banks, Inc. has a 52-week low of $19.60 and a 52-week high of $30.47. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 17.67 and a beta of 0.88.

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

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Thursday, September 14th. This is a positive change from United Community Banks’s previous quarterly dividend of $0.09. United Community Banks’s dividend payout ratio (DPR) is presently 24.66%.

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Several equities research analysts recently issued reports on UCBI shares. Zacks Investment Research lowered United Community Banks from a “buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. Hovde Group raised United Community Banks from a “market perform” rating to an “outperform” rating and set a $31.00 price target on the stock in a research 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 research report on Tuesday, June 27th. ValuEngine raised United Community Banks from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, BidaskClub lowered United Community Banks from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price 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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