Mutual of America Capital Management LLC Increases Stock Holdings in United Community Banks, Inc. (NASDAQ:UCBI)

Mutual of America Capital Management LLC lifted its stake in shares of United Community Banks, Inc. (NASDAQ:UCBIGet Rating) by 5.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 15,101 shares of the financial services provider’s stock after buying an additional 761 shares during the period. Mutual of America Capital Management LLC’s holdings in United Community Banks were worth $526,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of United Community Banks by 11.7% during the fourth quarter. Geode Capital Management LLC now owns 1,763,792 shares of the financial services provider’s stock valued at $63,391,000 after buying an additional 185,209 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in shares of United Community Banks by 199.1% during the fourth quarter. Los Angeles Capital Management LLC now owns 34,341 shares of the financial services provider’s stock valued at $1,234,000 after buying an additional 22,860 shares during the last quarter. Schroder Investment Management Group boosted its position in shares of United Community Banks by 13.2% during the fourth quarter. Schroder Investment Management Group now owns 2,391,301 shares of the financial services provider’s stock valued at $85,943,000 after buying an additional 279,544 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of United Community Banks by 10.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 23,663 shares of the financial services provider’s stock valued at $837,000 after buying an additional 2,263 shares during the last quarter. Finally, State Street Corp boosted its position in shares of United Community Banks by 9.3% during the fourth quarter. State Street Corp now owns 4,646,495 shares of the financial services provider’s stock valued at $167,848,000 after buying an additional 395,719 shares during the last quarter. Hedge funds and other institutional investors own 79.51% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. StockNews.com cut United Community Banks from a “hold” rating to a “sell” rating in a research report on Friday. Raymond James cut United Community Banks from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 6th. Truist Financial cut their price objective on United Community Banks from $34.00 to $32.00 in a research report on Wednesday, June 15th. Finally, Piper Sandler cut their price objective on United Community Banks to $36.00 in a research report on Friday, July 22nd.

United Community Banks Stock Up 1.7 %

UCBI stock opened at $34.03 on Friday. The stock has a market cap of $3.61 billion, a P/E ratio of 14.12 and a beta of 1.03. The stock’s fifty day simple moving average is $30.90 and its two-hundred day simple moving average is $33.28. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.13. United Community Banks, Inc. has a 1-year low of $27.62 and a 1-year high of $39.32.

United Community Banks (NASDAQ:UCBIGet Rating) last issued its earnings results on Tuesday, July 19th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.03). The firm had revenue of $212.36 million during the quarter, compared to the consensus estimate of $213.19 million. United Community Banks had a net margin of 30.10% and a return on equity of 11.27%. The business’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.79 earnings per share. Analysts expect that United Community Banks, Inc. will post 2.65 EPS for the current year.

United Community Banks Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 5th. Shareholders of record on Wednesday, June 15th were paid a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, June 14th. This represents a $0.84 annualized dividend and a dividend yield of 2.47%. United Community Banks’s payout ratio is presently 34.85%.

United Community Banks Profile

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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.

Further Reading

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Institutional Ownership by Quarter for United Community Banks (NASDAQ:UCBI)

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