Martingale Asset Management L P purchased a new stake in United Community Banks, Inc. (NASDAQ:UCBI) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 61,746 shares of the financial services provider’s stock, valued at approximately $1,717,000. Martingale Asset Management L P owned 0.09% of United Community Banks at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of United Community Banks by 20,108.8% in the 1st 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 during the period. Vanguard Group Inc. grew its stake in shares of United Community Banks by 8.0% in the 1st 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 during the period. State Street Corp grew its stake in shares of United Community Banks by 53.8% in the 1st 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 during the period. Dimensional Fund Advisors LP grew its stake in shares of United Community Banks by 5.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,166,175 shares of the financial services provider’s stock valued at $87,672,000 after buying an additional 152,234 shares during the period. Finally, Schroder Investment Management Group grew its stake in shares of United Community Banks by 14.0% in the 2nd quarter. Schroder Investment Management Group now owns 2,255,122 shares of the financial services provider’s stock valued at $63,076,000 after buying an additional 276,341 shares during the period. 89.67% of the stock is owned by institutional investors and hedge funds.

United Community Banks, Inc. (NASDAQ:UCBI) opened at 26.97 on Thursday. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 18.47 and a beta of 0.87. The stock has a 50 day moving average of $26.27 and a 200 day moving average of $27.13. United Community Banks, Inc. has a one year low of $20.12 and a one year high of $30.47.

United Community Banks (NASDAQ:UCBI) last announced its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. The firm had revenue of $108.00 million for 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%. United Community Banks’s revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 earnings per share. Analysts forecast that United Community Banks, Inc. will post $1.64 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 15th will be given a dividend of $0.10 per share. This is a boost from United Community Banks’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Thursday, September 14th. United Community Banks’s payout ratio is presently 27.40%.

UCBI has been the subject of several analyst reports. ValuEngine raised shares of United Community Banks from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Stephens restated a “hold” rating and issued a $30.00 price objective on shares of United Community Banks in a report on Tuesday, June 27th. Zacks Investment Research upgraded shares of United Community Banks from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Friday, June 30th. BidaskClub lowered shares of United Community Banks from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Finally, Raymond James Financial, Inc. decreased their price objective on shares of United Community Banks from $32.00 to $31.00 and set a “strong-buy” rating on the stock in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $30.86.

In other news, EVP Robert A. Edwards sold 11,550 shares of the business’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $26.06, for a total transaction of $300,993.00. Following the transaction, the executive vice president now directly owns 16,858 shares of the company’s stock, valued at $439,319.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.18% of the company’s stock.

WARNING: “Martingale Asset Management L P Purchases Shares of 61,746 United Community Banks, Inc. (UCBI)” was originally posted by Daily Political and is owned by of Daily Political. If you are accessing this piece on another publication, it was stolen and republished in violation of United States & international trademark and copyright laws. The correct version of this piece can be read at https://www.dailypolitical.com/2017/09/21/martingale-asset-management-l-p-purchases-shares-of-61746-united-community-banks-inc-ucbi.html.

United Community Banks 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)

Receive News & Ratings for United Community Banks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Community Banks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.