Principal Financial Group Inc. increased its stake in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 153.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,396,237 shares of the financial services provider’s stock after purchasing an additional 846,122 shares during the quarter. Principal Financial Group Inc. owned 1.97% of United Community Banks worth $39,849,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of UCBI. California Public Employees Retirement System lifted its holdings in shares of United Community Banks by 4.2% during the first quarter. California Public Employees Retirement System now owns 101,700 shares of the financial services provider’s stock worth $2,816,000 after purchasing an additional 4,100 shares during the period. PNC Financial Services Group Inc. lifted its holdings in United Community Banks by 4.0% in 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 during the period. Vanguard Group Inc. lifted its holdings 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 acquiring an additional 451,364 shares during the period. Geode Capital Management LLC lifted its holdings in United Community Banks by 12.2% in the first quarter. Geode Capital Management LLC now owns 562,144 shares of the financial services provider’s stock valued at $15,565,000 after acquiring an additional 61,089 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in United Community Banks by 13.2% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 23,165 shares of the financial services provider’s stock valued at $641,000 after acquiring an additional 2,700 shares during the period. 87.54% of the stock is owned by hedge funds and other institutional investors.

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Shares of United Community Banks, Inc. (UCBI) opened at $26.67 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.52. United Community Banks, Inc. has a fifty-two week low of $24.47 and a fifty-two week high of $30.47. The company has a market capitalization of $1,930.55, a PE ratio of 16.33 and a beta of 0.88.

United Community Banks (NASDAQ:UCBI) last released its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.41 EPS for the quarter, hitting the consensus estimate of $0.41. United Community Banks had a return on equity of 10.31% and a net margin of 23.09%. The firm had revenue of $109.35 million for the quarter, compared to analyst estimates of $114.65 million. During the same period in the previous year, the company posted $0.36 EPS. United Community Banks’s revenue for the quarter was up 3.5% on a year-over-year basis. equities research analysts forecast that United Community Banks, Inc. will post 1.63 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 15th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Thursday, December 14th. United Community Banks’s payout ratio is 27.03%.

UCBI has been the subject of a number of recent analyst reports. Stephens reissued a “hold” rating and issued a $29.00 target price on shares of United Community Banks in a report on Wednesday, July 26th. Raymond James Financial, Inc. reduced their target price 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. BidaskClub downgraded United Community Banks from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. FIG Partners raised United Community Banks from a “market perform” rating to an “outperform” rating and set a $32.00 target price for the company in a report on Wednesday, August 16th. Finally, Zacks Investment Research raised United Community Banks from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a report on Wednesday, September 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. United Community Banks has a consensus rating of “Buy” and an average price target of $31.25.

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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