Arizona State Retirement System Has $993,000 Stock Holdings in United Community Banks, Inc. (NASDAQ:UCBI)

Arizona State Retirement System increased its holdings in United Community Banks, Inc. (NASDAQ:UCBIGet Rating) by 22.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 28,547 shares of the financial services provider’s stock after buying an additional 5,231 shares during the quarter. Arizona State Retirement System’s holdings in United Community Banks were worth $993,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in UCBI. Massmutual Trust Co. FSB ADV acquired a new stake in shares of United Community Banks during the first quarter worth approximately $54,000. Lazard Asset Management LLC boosted its stake in United Community Banks by 54.0% in the fourth quarter. Lazard Asset Management LLC now owns 1,605 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 563 shares during the last quarter. Moisand Fitzgerald Tamayo LLC acquired a new stake in United Community Banks in the fourth quarter worth $146,000. Laurel Wealth Advisors LLC acquired a new stake in shares of United Community Banks during the fourth quarter worth $147,000. Finally, Strs Ohio acquired a new stake in shares of United Community Banks during the fourth quarter worth $172,000. Institutional investors and hedge funds own 79.51% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on UCBI shares. Piper Sandler lowered their price target on shares of United Community Banks to $36.00 in a research note on Friday, July 22nd. Truist Financial reduced their target price on shares of United Community Banks from $34.00 to $32.00 in a report on Wednesday, June 15th. StockNews.com downgraded shares of United Community Banks from a “hold” rating to a “sell” rating in a report on Friday, July 29th. Finally, Raymond James downgraded shares of United Community Banks from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 6th.

United Community Banks Price Performance

Shares of NASDAQ:UCBI opened at $33.83 on Wednesday. The firm has a 50 day moving average of $31.04 and a 200-day moving average of $33.21. The stock has a market capitalization of $3.59 billion, a PE ratio of 14.04 and a beta of 1.05. 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 12 month low of $27.62 and a 12 month 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 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 analyst estimates of $213.19 million. United Community Banks had a net margin of 30.10% and a return on equity of 11.27%. United Community Banks’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.79 earnings per share. On average, equities research analysts predict that United Community Banks, Inc. will post 2.65 EPS for the current fiscal year.

United Community Banks Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 5th. Investors of record on Wednesday, June 15th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend was Tuesday, June 14th. United Community Banks’s dividend payout ratio is 34.85%.

United Community Banks Company 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.

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

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