Bank of Montreal Can decreased its holdings in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 87.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,575 shares of the financial services provider’s stock after selling 61,008 shares during the quarter. Bank of Montreal Can’s holdings in United Community Banks were worth $240,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new position in United Community Banks in the 2nd quarter worth $108,000. Intrust Bank NA acquired a new position in United Community Banks in the 2nd quarter worth $209,000. Cubist Systematic Strategies LLC acquired a new position in United Community Banks in the 2nd quarter worth $216,000. Dynamic Technology Lab Private Ltd acquired a new position in United Community Banks in the 2nd quarter worth $279,000. Finally, LPL Financial LLC acquired a new position in United Community Banks in the 1st quarter worth $389,000. Institutional investors and hedge funds own 85.42% of the company’s stock.

A number of brokerages have commented on UCBI. BidaskClub lowered shares of United Community Banks from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 28th. FIG Partners reissued an “outperform” rating on shares of United Community Banks in a research report on Thursday, September 20th. Zacks Investment Research raised shares of United Community Banks from a “sell” rating to a “hold” rating in a research report on Tuesday, August 21st. Hovde Group set a $34.00 target price on shares of United Community Banks and gave the stock a “buy” rating in a research report on Monday, July 30th. Finally, Raymond James set a $28.00 target price on shares of United Community Banks and gave the stock a “buy” rating in a research report on Thursday, October 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $28.40.

UCBI opened at $25.43 on Tuesday. The stock has a market capitalization of $2.03 billion, a PE ratio of 15.55 and a beta of 0.99. United Community Banks, Inc. has a 1-year low of $22.83 and a 1-year high of $34.18. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.42.

United Community Banks (NASDAQ:UCBI) last released its earnings results on Tuesday, October 23rd. The financial services provider reported $0.55 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. The company had revenue of $134.50 million during the quarter, compared to the consensus estimate of $136.53 million. United Community Banks had a net margin of 19.16% and a return on equity of 11.64%. The company’s revenue was up 23.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.41 EPS. On average, equities analysts expect that United Community Banks, Inc. will post 2.13 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 7th. Stockholders of record on Saturday, December 15th will be given a $0.16 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.64 annualized dividend and a dividend yield of 2.52%. This is an increase from United Community Banks’s previous quarterly dividend of $0.15. United Community Banks’s payout ratio is presently 36.81%.

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United Community Banks 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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