Teachers Retirement System of The State of Kentucky Has $644,000 Stake in United Community Banks, Inc. (UCBI)
Teachers Retirement System of The State of Kentucky maintained its stake in shares of United Community Banks, Inc. (NASDAQ:UCBI) during the second quarter, according to its most recent filing with the SEC. The fund owned 23,165 shares of the financial services provider’s stock at the end of the second quarter. Teachers Retirement System of The State of Kentucky’s holdings in United Community Banks were worth $644,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of UCBI. Riverhead Capital Management LLC increased its holdings in shares of United Community Banks by 134.3% during the second quarter. Riverhead Capital Management LLC now owns 5,390 shares of the financial services provider’s stock valued at $150,000 after acquiring an additional 3,090 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of United Community Banks during the first quarter valued at $168,000. PNC Financial Services Group Inc. increased its holdings in shares of United Community Banks by 4.0% during the first quarter. PNC Financial Services Group Inc. now owns 7,604 shares of the financial services provider’s stock valued at $210,000 after acquiring an additional 295 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of United Community Banks during the second quarter valued at $211,000. Finally, Amalgamated Bank increased its holdings in shares of United Community Banks by 1.5% during the second quarter. Amalgamated Bank now owns 9,645 shares of the financial services provider’s stock valued at $268,000 after acquiring an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 86.71% of the company’s stock.
Shares of United Community Banks, Inc. (UCBI) opened at 28.54 on Tuesday. The company has a 50-day moving average price of $27.00 and a 200 day moving average price of $27.15. United Community Banks, Inc. has a 12-month low of $20.26 and a 12-month high of $30.47. The company has a market capitalization of $2.03 billion, a P/E ratio of 19.55 and a beta of 0.87.
United Community Banks (NASDAQ:UCBI) last announced its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The business had revenue of $108.00 million for the quarter, compared to analyst estimates of $110.49 million. United Community Banks had a return on equity of 10.42% and a net margin of 23.07%. The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.36 EPS. On average, equities analysts anticipate that United Community Banks, Inc. will post $1.63 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 5th. Stockholders of record on Friday, September 15th were paid a dividend of $0.10 per share. This is a positive change from United Community Banks’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, September 14th. This represents a $0.40 annualized dividend and a dividend yield of 1.40%. United Community Banks’s payout ratio is 27.40%.
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In other news, EVP Robert A. Edwards sold 11,550 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $26.06, for a total transaction of $300,993.00. Following the sale, the executive vice president now owns 16,858 shares of the company’s stock, valued at approximately $439,319.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.18% of the stock is owned by insiders.
Several equities analysts have recently weighed in on the company. SunTrust Banks, Inc. restated a “buy” rating and set a $33.00 price target on shares of United Community Banks in a report on Thursday, October 12th. Zacks Investment Research upgraded United Community Banks from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a report on Wednesday, September 27th. BidaskClub downgraded United Community Banks from a “sell” rating to a “strong sell” rating in a report on Thursday, August 17th. FIG Partners upgraded United Community Banks from a “market perform” rating to an “outperform” rating and set a $32.00 price target for the company in a report on Wednesday, August 16th. Finally, Raymond James Financial, Inc. reduced their price target on United Community Banks from $32.00 to $31.00 and set a “strong-buy” rating for the company in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price 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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