Laurion Capital Management LP acquired a new stake in United Community Banks, Inc. (NASDAQ:UCBI) in the second quarter, HoldingsChannel reports. The institutional investor acquired 29,305 shares of the financial services provider’s stock, valued at approximately $899,000.

Other institutional investors have also made changes to their positions in the company. Segall Bryant & Hamill LLC boosted its stake in shares of United Community Banks by 107.0% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 601,438 shares of the financial services provider’s stock valued at $18,446,000 after purchasing an additional 310,954 shares in the last quarter. M&T Bank Corp boosted its stake in shares of United Community Banks by 36.6% in the 1st quarter. M&T Bank Corp now owns 22,542 shares of the financial services provider’s stock valued at $714,000 after purchasing an additional 6,041 shares in the last quarter. State of Wisconsin Investment Board purchased a new stake in shares of United Community Banks in the 1st quarter valued at $4,114,000. LPL Financial LLC purchased a new stake in shares of United Community Banks in the 1st quarter valued at $389,000. Finally, Pinebridge Investments L.P. boosted its stake in shares of United Community Banks by 5.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 60,144 shares of the financial services provider’s stock valued at $1,844,000 after purchasing an additional 2,879 shares in the last quarter. 88.41% of the stock is owned by institutional investors.

A number of brokerages have recently issued reports on UCBI. BidaskClub cut shares of United Community Banks from a “hold” rating to a “sell” rating in a research note on Saturday, July 14th. Zacks Investment Research raised shares of United Community Banks from a “sell” rating to a “hold” rating in a research note on Tuesday, August 21st. Hovde Group set a $34.00 price objective on shares of United Community Banks and gave the company a “buy” rating in a research note on Monday, July 30th. Finally, SunTrust Banks cut shares of United Community Banks from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. United Community Banks has a consensus rating of “Hold” and an average target price of $32.67.

Shares of UCBI opened at $29.19 on Friday. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of 17.91 and a beta of 0.89. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.85 and a quick ratio of 0.84. United Community Banks, Inc. has a twelve month low of $25.68 and a twelve month high of $34.18.

United Community Banks (NASDAQ:UCBI) last announced its quarterly earnings results on Tuesday, July 24th. The financial services provider reported $0.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.01). The firm had revenue of $130.02 million for the quarter, compared to analysts’ expectations of $133.24 million. United Community Banks had a net margin of 17.42% and a return on equity of 10.99%. The company’s quarterly revenue was up 20.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.41 EPS. equities research analysts forecast that United Community Banks, Inc. will post 2.16 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 5th. Shareholders of record on Saturday, September 15th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $0.60 annualized dividend and a yield of 2.06%. United Community Banks’s payout ratio is currently 36.81%.

United Community Banks Company Profile

United Community Banks, Inc operates as the bank holding company for United Community Bank that provides retail and corporate banking services to individuals and businesses. It offers various deposit accounts, such as checking accounts, savings and time deposits accounts, NOW accounts, money market deposits, and certificates of deposit.

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Institutional Ownership by Quarter for United Community Banks (NASDAQ:UCBI)

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