United Community Banks, Inc. Announces Quarterly Dividend of $0.21 (NASDAQ:UCBI)

United Community Banks, Inc. (NASDAQ:UCBIGet Rating) announced a quarterly dividend on Thursday, May 19th, Zacks reports. Stockholders of record on Wednesday, June 15th will be given a dividend of 0.21 per share by the financial services provider on Tuesday, July 5th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend is Tuesday, June 14th.

United Community Banks has raised its dividend by an average of 10.4% per year over the last three years and has increased its dividend every year for the last 2 years. United Community Banks has a payout ratio of 25.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect United Community Banks to earn $3.29 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 25.5%.

Shares of NASDAQ UCBI opened at $29.86 on Friday. The company’s fifty day moving average price is $32.55 and its 200 day moving average price is $34.94. United Community Banks has a 1 year low of $27.62 and a 1 year high of $39.32. The company has a market capitalization of $3.16 billion, a PE ratio of 11.57 and a beta of 1.07. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.75 and a current ratio of 0.76.

United Community Banks (NASDAQ:UCBIGet Rating) last announced its quarterly earnings results on Tuesday, April 19th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). United Community Banks had a return on equity of 11.93% and a net margin of 32.10%. The firm had revenue of $202.77 million for the quarter, compared to analysts’ expectations of $202.89 million. During the same period last year, the company posted $0.83 earnings per share. The business’s quarterly revenue was up 14.7% on a year-over-year basis. On average, equities analysts expect that United Community Banks will post 2.65 EPS for the current year.

A number of brokerages recently issued reports on UCBI. StockNews.com raised shares of United Community Banks from a “sell” rating to a “hold” rating in a report on Thursday, May 12th. Raymond James downgraded shares of United Community Banks from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 6th. Finally, Zacks Investment Research downgraded shares of United Community Banks from a “buy” rating to a “hold” rating in a report on Wednesday, April 27th.

In other United Community Banks news, CEO H Lynn Harton sold 5,000 shares of the stock in a transaction on Friday, April 1st. The shares were sold at an average price of $35.11, for a total transaction of $175,550.00. Following the transaction, the chief executive officer now directly owns 242,222 shares of the company’s stock, valued at $8,504,414.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.54% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley increased its stake in United Community Banks by 14.8% during the 2nd quarter. Morgan Stanley now owns 321,933 shares of the financial services provider’s stock worth $10,305,000 after buying an additional 41,553 shares during the period. LPL Financial LLC grew its holdings in United Community Banks by 6.9% during the 3rd quarter. LPL Financial LLC now owns 9,950 shares of the financial services provider’s stock worth $327,000 after acquiring an additional 644 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of United Community Banks in the 4th quarter valued at $419,000. Barclays PLC boosted its holdings in shares of United Community Banks by 73.3% in the 4th quarter. Barclays PLC now owns 216,118 shares of the financial services provider’s stock valued at $7,766,000 after buying an additional 91,398 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of United Community Banks by 20.2% in the 4th quarter. Legal & General Group Plc now owns 289,234 shares of the financial services provider’s stock valued at $10,395,000 after buying an additional 48,522 shares in the last quarter. 79.51% of the stock is currently owned by institutional investors and hedge funds.

About United Community Banks (Get Rating)

United Community Banks, Inc operates as the financial holding company for United Community Bank that provides financial products and services to commercial, retail, government, education, energy, health care, and real estate sectors. The company accepts various deposit products, including checking, savings, money market, and other deposit accounts.

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Dividend History for United Community Banks (NASDAQ:UCBI)

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