SG Americas Securities LLC Purchases New Stake in United Community Banks, Inc. (NASDAQ:UCBI)

SG Americas Securities LLC purchased a new stake in United Community Banks, Inc. (NASDAQ:UCBI) in the 4th quarter, HoldingsChannel reports. The fund purchased 3,926 shares of the financial services provider’s stock, valued at approximately $115,000.

Several other hedge funds have also bought and sold shares of UCBI. Eagle Bay Advisors LLC grew its position in 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 purchasing an additional 474 shares during the period. Carmel Capital Partners LLC bought a new position in United Community Banks during the 3rd quarter valued at $36,000. Belpointe Asset Management LLC lifted its stake in United Community Banks by 113.1% during the 1st quarter. Belpointe Asset Management LLC now owns 1,385 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 735 shares in the last quarter. State of Wyoming lifted its stake in United Community Banks by 25.9% during the 2nd quarter. State of Wyoming now owns 1,898 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 390 shares in the last quarter. Finally, Money Concepts Capital Corp bought a new position in United Community Banks during the 4th quarter valued at $105,000. Institutional investors and hedge funds own 82.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Truist Financial dropped their price objective on United Community Banks from $31.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. StockNews.com upgraded United Community Banks to a “sell” rating in a research note on Wednesday, January 17th. TheStreet cut United Community Banks from a “b” rating to a “c+” rating in a research note on Wednesday, January 24th. DA Davidson restated a “buy” rating on shares of United Community Banks in a research note on Monday, January 15th. Finally, Piper Sandler raised their price objective on United Community Banks from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $31.00.

United Community Banks Trading Up 0.5 %

Shares of UCBI stock opened at $24.70 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10. The firm has a market cap of $2.94 billion, a P/E ratio of 15.94 and a beta of 0.94. The company has a 50 day moving average of $25.72 and a 200-day moving average of $26.19. United Community Banks, Inc. has a 12-month low of $20.37 and a 12-month high of $30.75.

United Community Banks (NASDAQ:UCBI) last released its 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. 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 return on equity of 8.32% and a net margin of 14.29%. The business’s revenue for the quarter was down 25.8% on a year-over-year basis. During the same period last year, the business posted $0.75 earnings per share. Sell-side analysts anticipate that United Community Banks, Inc. will post 2.19 earnings per share for the current year.

United Community Banks Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend was Thursday, March 14th. United Community Banks’s dividend payout ratio (DPR) is currently 59.35%.

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.