Brandywine Global Investment Management LLC Acquires 45,076 Shares of United Community Banks, Inc. (NASDAQ:UCBI)

Brandywine Global Investment Management LLC raised its holdings in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 43.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 147,734 shares of the financial services provider’s stock after purchasing an additional 45,076 shares during the period. Brandywine Global Investment Management LLC owned 0.13% of United Community Banks worth $4,154,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. CI Investments Inc. purchased a new stake in shares of United Community Banks during the fourth quarter valued at approximately $26,000. Eagle Bay Advisors LLC boosted its holdings in United Community Banks by 97.5% in the second quarter. Eagle Bay Advisors LLC now owns 960 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 474 shares during the last quarter. Belpointe Asset Management LLC boosted its holdings in United Community Banks by 113.1% in the first quarter. Belpointe Asset Management LLC now owns 1,385 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 735 shares during the last quarter. Money Concepts Capital Corp purchased a new stake in United Community Banks in the fourth quarter worth approximately $105,000. Finally, Assetmark Inc. boosted its holdings in United Community Banks by 11.8% in the fourth quarter. Assetmark Inc. now owns 3,182 shares of the financial services provider’s stock worth $108,000 after purchasing an additional 337 shares during the last quarter. Institutional investors own 80.99% of the company’s stock.

United Community Banks Stock Up 0.0 %

Shares of UCBI stock opened at $26.05 on Friday. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 10.30 and a beta of 1.01. United Community Banks, Inc. has a one year low of $20.37 and a one year high of $39.50. The company’s fifty day moving average price is $27.63 and its 200-day moving average price is $26.53. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.79 and a quick ratio of 0.79.

United Community Banks (NASDAQ:UCBI) last announced its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.08). The company had revenue of $332.16 million during the quarter, compared to the consensus estimate of $240.15 million. United Community Banks had a net margin of 24.81% and a return on equity of 10.79%. During the same quarter in the prior year, the firm posted $0.66 earnings per share. Sell-side analysts expect that United Community Banks, Inc. will post 2.23 EPS for the current fiscal year.

United Community Banks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Friday, September 15th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.92 dividend on an annualized basis and a yield of 3.53%. United Community Banks’s dividend payout ratio is currently 36.36%.

Analyst Ratings Changes

UCBI has been the topic of several research reports. Truist Financial raised their target price on shares of United Community Banks from $27.00 to $30.00 and gave the stock a “hold” rating in a report on Thursday, July 20th. Keefe, Bruyette & Woods cut shares of United Community Banks from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $33.00 to $30.00 in a research note on Thursday, July 20th. StockNews.com upgraded shares of United Community Banks to a “sell” rating in a research note on Monday, August 28th. Stephens lifted their price target on shares of United Community Banks from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, July 20th. Finally, DA Davidson dropped their price target on shares of United Community Banks from $31.50 to $30.00 and set a “buy” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $30.80.

United Community Banks Company Profile

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. It accepts various deposit products, including checking, savings, money market, and other deposit accounts.