Nisa Investment Advisors LLC Raises Stock Position in United Community Banks, Inc. (NASDAQ:UCBI)

Nisa Investment Advisors LLC grew its holdings in United Community Banks, Inc. (NASDAQ:UCBI) by 2.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 24,218 shares of the financial services provider’s stock after purchasing an additional 583 shares during the quarter. Nisa Investment Advisors LLC’s holdings in United Community Banks were worth $709,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in United Community Banks by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 13,278,707 shares of the financial services provider’s stock valued at $337,412,000 after purchasing an additional 245,944 shares in the last quarter. Great Lakes Advisors LLC grew its holdings in United Community Banks by 12.2% during the 3rd quarter. Great Lakes Advisors LLC now owns 171,660 shares of the financial services provider’s stock valued at $4,362,000 after purchasing an additional 18,622 shares in the last quarter. Blair William & Co. IL acquired a new stake in United Community Banks during the 3rd quarter valued at $5,501,000. Sequoia Financial Advisors LLC grew its holdings in United Community Banks by 12.8% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 9,943 shares of the financial services provider’s stock valued at $253,000 after purchasing an additional 1,128 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in United Community Banks by 21.4% during the 3rd quarter. Northern Trust Corp now owns 1,913,924 shares of the financial services provider’s stock valued at $48,633,000 after purchasing an additional 337,102 shares in the last quarter. Hedge funds and other institutional investors own 82.29% of the company’s stock.

United Community Banks Price Performance

Shares of UCBI stock opened at $24.54 on Wednesday. The firm has a market cap of $2.92 billion, a P/E ratio of 15.83 and a beta of 0.94. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81. United Community Banks, Inc. has a 1-year low of $20.37 and a 1-year high of $30.75. The firm has a fifty day moving average of $25.85 and a two-hundred day moving average of $26.22.

United Community Banks (NASDAQ:UCBI) last posted its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. United Community Banks had a net margin of 14.29% and a return on equity of 8.32%. The company had revenue of $165.70 million for the quarter, compared to the consensus estimate of $226.07 million. During the same period last year, the firm posted $0.75 EPS. The company’s revenue for the quarter was down 25.8% on a year-over-year basis. As a group, research analysts anticipate that United Community Banks, Inc. will post 2.19 earnings per share for the current fiscal year.

United Community Banks Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a $0.23 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.75%. United Community Banks’s payout ratio is currently 59.36%.

Analyst Ratings Changes

UCBI has been the subject of a number of recent analyst reports. Piper Sandler raised their price target on shares of United Community Banks from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. StockNews.com raised shares of United Community Banks to a “sell” rating in a report on Wednesday, January 17th. TheStreet lowered shares of United Community Banks from a “b” rating to a “c+” rating in a report on Wednesday, January 24th. DA Davidson reissued a “buy” rating on shares of United Community Banks in a report on Monday, January 15th. Finally, Truist Financial decreased their price objective on shares of United Community Banks from $31.00 to $28.00 and set a “hold” rating for the company in a report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $31.00.

About United Community Banks

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.