Virginia Retirement Systems ET AL decreased its holdings in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 72.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 12,500 shares of the financial services provider’s stock after selling 32,600 shares during the period. Virginia Retirement Systems ET AL’s holdings in United Community Banks were worth $349,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of UCBI. Itau Unibanco Holding S.A. bought a new stake in United Community Banks during the second quarter worth about $108,000. WINTON GROUP Ltd bought a new stake in United Community Banks during the third quarter worth about $203,000. Intrust Bank NA bought a new stake in United Community Banks during the second quarter worth about $209,000. Assenagon Asset Management S.A. bought a new stake in United Community Banks during the third quarter worth about $214,000. Finally, Cubist Systematic Strategies LLC bought a new stake in United Community Banks during the second quarter worth about $216,000. 85.42% of the stock is owned by institutional investors.

UCBI has been the subject of several research analyst reports. BidaskClub raised United Community Banks from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 30th. Zacks Investment Research raised United Community Banks from a “sell” rating to a “hold” rating in a research note on Thursday, August 30th. Stephens reaffirmed a “hold” rating and set a $24.00 price target on shares of United Community Banks in a research note on Thursday, October 25th. SunTrust Banks dropped their price target on United Community Banks to $25.00 and set a “hold” rating for the company in a research note on Thursday, October 25th. They noted that the move was a valuation call. Finally, Raymond James set a $28.00 price target on United Community Banks and gave the stock a “buy” rating in a research note on Thursday, October 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $28.40.

UCBI opened at $25.10 on Wednesday. The stock has a market capitalization of $2.01 billion, a PE ratio of 15.40 and a beta of 0.99. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.42. United Community Banks, Inc. has a 12 month low of $22.83 and a 12 month high of $34.18.

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

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 7th. Stockholders of record on Saturday, December 15th will be issued a $0.16 dividend. The ex-dividend date is Thursday, December 13th. This represents a $0.64 annualized dividend and a dividend yield of 2.55%. This is an increase from United Community Banks’s previous quarterly dividend of $0.15. United Community Banks’s payout ratio is currently 36.81%.

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About United Community Banks

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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