Sequoia Financial Advisors LLC Trims Stock Position in United Community Banks, Inc. (NASDAQ:UCBI)

Sequoia Financial Advisors LLC trimmed its stake in United Community Banks, Inc. (NASDAQ:UCBI) by 28.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,068 shares of the financial services provider’s stock after selling 2,875 shares during the period. Sequoia Financial Advisors LLC’s holdings in United Community Banks were worth $207,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisor Group Holdings Inc. boosted its stake in United Community Banks by 6.8% in the first quarter. Advisor Group Holdings Inc. now owns 5,498 shares of the financial services provider’s stock valued at $173,000 after acquiring an additional 351 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of United Community Banks in the 1st quarter valued at about $373,000. Cetera Advisor Networks LLC purchased a new position in United Community Banks during the 1st quarter worth approximately $210,000. Citigroup Inc. increased its position in United Community Banks by 23.0% during the first quarter. Citigroup Inc. now owns 94,139 shares of the financial services provider’s stock worth $3,276,000 after buying an additional 17,608 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in United Community Banks by 21.0% in the first quarter. PNC Financial Services Group Inc. now owns 17,403 shares of the financial services provider’s stock valued at $606,000 after buying an additional 3,025 shares during the last quarter. 82.29% of the stock is currently owned by institutional investors and hedge funds.

United Community Banks Stock Up 2.2 %

Shares of United Community Banks stock opened at $25.25 on Friday. United Community Banks, Inc. has a one year low of $20.37 and a one year high of $30.75. The company has a market cap of $3.01 billion, a P/E ratio of 16.29 and a beta of 0.94. 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 firm has a fifty day moving average of $25.68 and a two-hundred day moving average of $26.21.

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 the consensus estimate 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 firm had revenue of $165.70 million during the quarter, compared to analysts’ expectations of $226.07 million. During the same period in the prior year, the company posted $0.75 earnings per share. The firm’s revenue for the quarter was down 25.8% on a year-over-year basis. On average, analysts forecast that United Community Banks, Inc. will post 2.15 earnings per share for the current year.

United Community Banks Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date was Thursday, March 14th. United Community Banks’s dividend payout ratio is presently 59.36%.

Wall Street Analysts Forecast Growth

UCBI has been the topic of a number of research reports. DA Davidson restated a “buy” rating on shares of United Community Banks in a research report on Monday, January 15th. TheStreet downgraded shares of United Community Banks from a “b” rating to a “c+” rating in a research 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. StockNews.com raised United Community Banks to a “sell” rating in a report on Wednesday, January 17th. Finally, Piper Sandler boosted their price target on United Community Banks from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus 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.