United Community Banks, Inc. (NASDAQ:UCBI) Stake Lessened by Arizona State Retirement System

Arizona State Retirement System cut its stake in United Community Banks, Inc. (NASDAQ:UCBI) by 1.7% in the 4th quarter, HoldingsChannel reports. The fund owned 33,225 shares of the financial services provider’s stock after selling 559 shares during the period. Arizona State Retirement System’s holdings in United Community Banks were worth $972,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Integrated Investment Consultants LLC boosted its holdings in shares of United Community Banks by 21.0% in the fourth quarter. Integrated Investment Consultants LLC now owns 17,814 shares of the financial services provider’s stock valued at $521,000 after acquiring an additional 3,089 shares in the last quarter. Family Legacy Inc. boosted its holdings in United Community Banks by 1.6% during the fourth quarter. Family Legacy Inc. now owns 33,543 shares of the financial services provider’s stock worth $981,000 after buying an additional 516 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in United Community Banks by 12.2% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 10,493 shares of the financial services provider’s stock worth $307,000 after buying an additional 1,144 shares in the last quarter. SG Americas Securities LLC bought a new stake in United Community Banks during the fourth quarter worth approximately $115,000. Finally, Moody National Bank Trust Division boosted its holdings in United Community Banks by 22.8% during the fourth quarter. Moody National Bank Trust Division now owns 17,484 shares of the financial services provider’s stock worth $512,000 after buying an additional 3,248 shares in the last quarter. 82.29% of the stock is currently owned by institutional investors.

United Community Banks Stock Down 1.4 %

Shares of NASDAQ:UCBI opened at $24.54 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $2.92 billion, a PE ratio of 15.83 and a beta of 0.94. United Community Banks, Inc. has a 52 week low of $20.37 and a 52 week high of $30.75. The firm has a 50 day simple moving average of $25.85 and a 200 day simple moving average of $26.22.

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

United Community Banks Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders 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 yield of 3.75%. United Community Banks’s payout ratio is 59.36%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on UCBI shares. Piper Sandler raised their target price on shares of United Community Banks from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. TheStreet cut shares of United Community Banks from a “b” rating to a “c+” rating in a report on Wednesday, January 24th. Truist Financial reduced their target price 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. DA Davidson restated a “buy” rating on shares of United Community Banks in a report on Monday, January 15th. Finally, StockNews.com upgraded shares of United Community Banks to a “sell” rating in a research report on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $31.00.

United Community Banks 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.