Citigroup Inc. Acquires 12,621 Shares of United Community Banks, Inc. (NASDAQ:UCBI)

Citigroup Inc. lifted its holdings in shares of United Community Banks, Inc. (NASDAQ:UCBI – Get Rating) by 24.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,640 shares of the financial services provider’s stock after purchasing an additional 12,621 shares during the period. Citigroup Inc. owned 0.06% of United Community Banks worth $2,185,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Eagle Bay Advisors LLC increased its stake in shares of United Community Banks by 97.5% in the 2nd quarter. Eagle Bay Advisors LLC now owns 960 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 474 shares in the last quarter. IFP Advisors Inc grew its stake in shares of United Community Banks by 35.9% in the 4th quarter. IFP Advisors Inc now owns 1,704 shares of the financial services provider’s stock valued at $59,000 after buying an additional 450 shares during the period. Van ECK Associates Corp bought a new stake in United Community Banks in the 4th quarter valued at about $115,000. Advisor Group Holdings Inc. raised its stake in United Community Banks by 6.8% during the 1st quarter. Advisor Group Holdings Inc. now owns 5,498 shares of the financial services provider’s stock worth $173,000 after buying an additional 351 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH bought a new position in United Community Banks in the fourth quarter worth approximately $203,000. Institutional investors and hedge funds own 85.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on UCBI shares. DA Davidson lowered their target price on United Community Banks from $32.00 to $30.00 in a research report on Monday, April 24th. Piper Sandler dropped their price objective on shares of United Community Banks from $32.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, April 20th. Keefe, Bruyette & Woods decreased their target price on shares of United Community Banks from $38.00 to $35.00 and set an “outperform” rating for the company in a research report on Thursday, April 6th. Truist Financial dropped their price target on shares of United Community Banks from $30.00 to $29.00 and set a “hold” rating on the stock in a research report on Friday, April 21st. Finally, Stephens assumed coverage on United Community Banks in a report on Monday, April 3rd. They set an “overweight” rating and a $34.00 price objective for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, United Community Banks has an average rating of “Hold” and a consensus price target of $31.80.

United Community Banks Price Performance

United Community Banks stock opened at $23.07 on Thursday. The stock has a market cap of $2.66 billion, a P/E ratio of 8.84 and a beta of 0.96. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.12. The company’s 50 day moving average price is $25.48 and its two-hundred day moving average price is $31.10. United Community Banks, Inc. has a 52 week low of $20.37 and a 52 week high of $39.50.

United Community Banks (NASDAQ:UCBI – Get Rating) last posted its quarterly earnings data on Wednesday, April 19th. The financial services provider reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.10). The business had revenue of $241.68 million during the quarter, compared to analysts’ expectations of $248.78 million. United Community Banks had a return on equity of 11.48% and a net margin of 27.77%. The firm’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.50 EPS. On average, equities analysts predict that United Community Banks, Inc. will post 2.53 earnings per share for the current year.

United Community Banks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Thursday, June 15th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.99%. The ex-dividend date is Wednesday, June 14th. United Community Banks’s dividend payout ratio (DPR) is 35.25%.

United Community Banks Profile

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United Community Banks, Inc is a bank holding company, which engages in the provision of consumer and business banking services. The firm caters to individuals and small and medium-sized businesses. It offers checking, savings, mortgages, borrowing, digital baking, credit cards, and investing services.