19,755 United Community Banks, Inc. $UCB Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its position in United Community Banks, Inc. (NYSE:UCB) by 44.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,945 shares of the company’s stock after selling 19,755 shares during the period. State of Alaska Department of Revenue’s holdings in United Community Banks were worth $831,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp purchased a new stake in United Community Banks in the 2nd quarter worth about $55,195,000. Principal Financial Group Inc. grew its holdings in United Community Banks by 32.3% in the 1st quarter. Principal Financial Group Inc. now owns 766,598 shares of the company’s stock valued at $24,140,000 after buying an additional 187,210 shares during the last quarter. Dimensional Fund Advisors LP grew its position in United Community Banks by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,520,132 shares of the company’s stock worth $205,315,000 after purchasing an additional 182,397 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of United Community Banks by 27.6% during the 1st quarter. Bank of America Corp DE now owns 747,576 shares of the company’s stock worth $23,541,000 after purchasing an additional 161,848 shares in the last quarter. Finally, Great Lakes Advisors LLC acquired a new stake in shares of United Community Banks during the 2nd quarter valued at about $3,698,000. 82.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on UCB. Wall Street Zen raised shares of United Community Banks from a “sell” rating to a “hold” rating in a research note on Saturday, September 12th. Stephens boosted their price objective on shares of United Community Banks from $41.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday. Keefe, Bruyette & Woods boosted their price objective on United Community Banks from $40.00 to $41.00 and gave the company an “outperform” rating in a research report on Wednesday, September 16th. Piper Sandler upped their target price on shares of United Community Banks from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 9th. Finally, DA Davidson raised their price target on shares of United Community Banks from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, September 9th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, United Community Banks has an average rating of “Moderate Buy” and an average target price of $40.00.

United Community Banks Price Performance

NYSE:UCB opened at $37.18 on Friday. United Community Banks, Inc. has a one year low of $28.65 and a one year high of $37.24. The company has a market cap of $4.48 billion, a P/E ratio of 12.40 and a beta of 0.88. The firm’s fifty day moving average price is $34.74 and its two-hundred day moving average price is $34.40. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.78 and a quick ratio of 0.83.

United Community Banks (NYSE:UCB) last released its quarterly earnings results on Tuesday, October 20th. The company reported $0.77 earnings per share for the quarter, meeting the consensus estimate of $0.77. The firm had revenue of $291.90 million for the quarter. United Community Banks had a net margin of 9.06% and a return on equity of 9.66%. Equities analysts expect that United Community Banks, Inc. will post 3.00 earnings per share for the current year.

United Community Banks Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 5th. Investors of record on Tuesday, September 15th were given a dividend of $0.26 per share. This is a positive change from United Community Banks’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Tuesday, September 15th. United Community Banks’s payout ratio is 88.14%.

Insider Activity at United Community Banks

In related news, EVP Richard Bradshaw sold 1,424 shares of the business’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $35.09, for a total value of $49,968.16. Following the completion of the transaction, the executive vice president owned 83,228 shares of the company’s stock, valued at $2,920,470.52. The trade was a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jefferson L. Harralson sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $35.41, for a total transaction of $885,250.00. Following the completion of the transaction, the executive vice president owned 37,433 shares of the company’s stock, valued at $1,325,502.53. The trade was a 40.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.45% of the stock is currently owned by company insiders.

United Community Banks Company Profile

United Community Banks, Inc is a bank holding company headquartered in Blairsville, Georgia. Through its principal subsidiary, United Community Bank, the company provides banking and financial services to consumers, businesses and communities primarily across the Southeastern United States.

United Community Bank offers deposit accounts, consumer and commercial lending, residential mortgages, credit cards, online and mobile banking, treasury management and other financial services. Its lending activities include commercial real estate, business, construction, residential and consumer loans.