Key Points
- Executive vice president Richard Bradshaw sold 1,345 UCB shares at an average price of $37.17, generating approximately $49,994. He retained 82,054 shares after the transaction.
- United Community Banks reported quarterly EPS of $0.77, matching analyst expectations, on $291.9 million in revenue. The company also raised its quarterly dividend to $0.26 per share, representing a 2.8% annualized yield.
- Analysts maintain a consensus “Buy” rating with a $40 price target, while institutional investors own 82.29% of the company’s stock.
United Community Banks, Inc. (NYSE:UCB - Get Free Report) EVP Richard Bradshaw sold 1,345 shares of the company's stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $37.17, for a total transaction of $49,993.65. Following the completion of the transaction, the executive vice president owned 82,054 shares in the company, valued at approximately $3,049,947.18. The trade was a 1.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
United Community Banks Trading Up 0.2%
UCB stock opened at $37.05 on Tuesday. United Community Banks, Inc. has a 12 month low of $28.65 and a 12 month high of $37.45. The firm's 50-day moving average is $34.77 and its 200 day moving average is $33.97. The company has a market capitalization of $4.47 billion, a PE ratio of 31.39 and a beta of 0.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.78 and a quick ratio of 0.78.
United Community Banks (NYSE:UCB - Get Free Report) last released its quarterly earnings data on Tuesday, October 20th. The company reported $0.77 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.77. The company had revenue of $291.90 million during the quarter. United Community Banks had a net margin of 9.06% and a return on equity of 9.66%. On average, research analysts anticipate that United Community Banks, Inc. will post 3.01 EPS for the current year.
United Community Banks Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, October 5th. Stockholders of record on Tuesday, September 15th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.8%. This is a boost from United Community Banks's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, September 15th. United Community Banks's dividend payout ratio is 88.14%.
Analyst Ratings Changes
Several analysts have recently weighed in on UCB shares. TD Cowen raised shares of United Community Banks to a "strong-buy" rating in a research note on Thursday, July 16th. Weiss Ratings reiterated a "buy (b)" rating on shares of United Community Banks in a report on Friday, September 25th. Wall Street Zen raised United Community Banks from a "sell" rating to a "hold" rating in a research note on Saturday, September 12th. DA Davidson increased their price objective on United Community Banks from $40.00 to $42.00 and gave the stock a "buy" rating in a research note on Wednesday, September 9th. Finally, Stephens raised their price objective on United Community Banks from $41.00 to $42.00 and gave the stock an "overweight" rating in a report on Wednesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, United Community Banks currently has a consensus rating of "Buy" and a consensus price target of $40.00.
Read Our Latest Stock Analysis on United Community Banks
Institutional Trading of United Community Banks
A number of hedge funds have recently added to or reduced their stakes in the business. Great Lakes Advisors LLC purchased a new stake in shares of United Community Banks in the 2nd quarter worth approximately $3,698,000. California Public Employees Retirement System increased its holdings in United Community Banks by 13.6% during the first quarter. California Public Employees Retirement System now owns 244,690 shares of the company's stock valued at $7,705,000 after buying an additional 29,332 shares during the period. Hsbc Holdings PLC raised its stake in United Community Banks by 365.9% in the first quarter. Hsbc Holdings PLC now owns 114,896 shares of the company's stock worth $3,615,000 after buying an additional 90,234 shares in the last quarter. Bank of America Corp DE raised 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 worth $23,541,000 after buying an additional 161,848 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in United Community Banks by 8.6% in the first quarter. Bank of New York Mellon Corp now owns 1,316,251 shares of the company's stock worth $41,449,000 after buying an additional 103,891 shares in the last quarter. 82.29% of the stock is owned by hedge funds and other institutional investors.
United Community Banks Company Profile
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
