Key Points
- United Community Banks EVP Jefferson Harralson sold 25,000 shares at an average price of $35.41, generating $885,250. Following the transaction, he retained 37,433 shares, a 40.04% reduction in his position.
- UCB shares opened at $35.66 and were up 1.4%, while the company reported quarterly EPS of $0.71, below the $0.80 analyst consensus. United Community Banks pays a quarterly dividend of $0.25, equivalent to a 2.8% annual yield.
- Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $38.80; institutional investors own approximately 82.29% of the stock.
United Community Banks, Inc. (NYSE:UCB - Get Free Report) EVP Richard Bradshaw sold 1,424 shares of the stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $35.09, for a total transaction of $49,968.16. Following the completion of the sale, the executive vice president directly owned 83,228 shares in the company, valued at approximately $2,920,470.52. The trade was a 1.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
United Community Banks Price Performance
UCB stock opened at $35.66 on Wednesday. The firm has a 50 day moving average of $34.38 and a 200-day moving average of $33.54. The firm has a market capitalization of $4.27 billion, a P/E ratio of 11.73 and a beta of 0.81. United Community Banks, Inc. has a 12 month low of $28.65 and a 12 month high of $37.18. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.22.
United Community Banks (NYSE:UCB - Get Free Report) last posted its earnings results on Tuesday, July 21st. The company reported $0.71 earnings per share for the quarter, missing analysts' consensus estimates of $0.80 by ($0.09). United Community Banks had a return on equity of 9.61% and a net margin of 24.43%.The firm had revenue of $279.28 million for the quarter. As a group, sell-side analysts predict that United Community Banks, Inc. will post 2.93 earnings per share for the current fiscal year.
United Community Banks Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 3rd. Stockholders of record on Monday, June 15th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Monday, June 15th. United Community Banks's payout ratio is 32.89%.
Hedge Funds Weigh In On United Community Banks
A number of institutional investors have recently made changes to their positions in UCB. GAMMA Investing LLC raised its position in shares of United Community Banks by 18.8% during the 2nd quarter. GAMMA Investing LLC now owns 7,496 shares of the company's stock valued at $263,000 after buying an additional 1,186 shares in the last quarter. Moody National Bank Trust Division grew its position in United Community Banks by 14.2% in the second quarter. Moody National Bank Trust Division now owns 26,568 shares of the company's stock worth $932,000 after acquiring an additional 3,313 shares in the last quarter. Versant Capital Management Inc grew its position in United Community Banks by 13.2% in the second quarter. Versant Capital Management Inc now owns 2,894 shares of the company's stock worth $102,000 after acquiring an additional 338 shares in the last quarter. Bank of America Corp DE increased its stake in United Community Banks by 27.6% in the first quarter. Bank of America Corp DE now owns 747,576 shares of the company's stock valued at $23,541,000 after acquiring an additional 161,848 shares during the last quarter. Finally, Arkadios Wealth Advisors bought a new position in United Community Banks in the first quarter valued at $342,000. Institutional investors own 82.29% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods upgraded United Community Banks from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $36.00 to $40.00 in a research report on Thursday, April 9th. Weiss Ratings upgraded United Community Banks from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, June 30th. DA Davidson restated a "buy" rating and issued a $40.00 target price on shares of United Community Banks in a research note on Wednesday, July 22nd. TD Cowen raised United Community Banks to a "strong-buy" rating in a report on Thursday, July 16th. Finally, Piper Sandler reiterated a "neutral" rating and set a $37.00 price target on shares of United Community Banks in a research report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, United Community Banks currently has an average rating of "Moderate Buy" and a consensus price target of $38.80.
Check Out Our Latest Stock Report on UCB
United Community Banks Company Profile
(
Get Free Report)
United Community Banks, Inc (NYSE: UCB) is a bank holding company headquartered in Blairsville, Georgia. It operates primarily through its subsidiary, United Community Bank, providing a broad range of banking and financial services to individual, business and governmental customers. The company's core offerings include deposit accounts, commercial and consumer lending, mortgage origination, treasury and cash management services, and wealth management.
In addition to traditional banking products such as checking, savings and money market accounts, United Community Bank specializes in commercial real estate financing, small business administration (SBA) loans, equipment financing and agricultural lending.
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