United Community Banks, Inc. (NASDAQ:UCBI) Shares Purchased by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. raised its holdings in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 12.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,493 shares of the financial services provider’s stock after purchasing an additional 1,144 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in United Community Banks were worth $307,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC grew its position in shares of United Community Banks by 12.8% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 9,943 shares of the financial services provider’s stock worth $253,000 after acquiring an additional 1,128 shares in the last quarter. Carmel Capital Partners LLC acquired a new position in shares of United Community Banks in the 3rd quarter worth approximately $36,000. Arizona State Retirement System grew its position in shares of United Community Banks by 4.5% in the 3rd quarter. Arizona State Retirement System now owns 33,784 shares of the financial services provider’s stock worth $858,000 after acquiring an additional 1,443 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of United Community Banks by 9.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 20,697 shares of the financial services provider’s stock worth $526,000 after acquiring an additional 1,870 shares in the last quarter. Finally, Integrated Investment Consultants LLC grew its position in shares of United Community Banks by 18.4% in the 3rd quarter. Integrated Investment Consultants LLC now owns 14,725 shares of the financial services provider’s stock worth $374,000 after acquiring an additional 2,291 shares in the last quarter. Institutional investors and hedge funds own 82.29% of the company’s stock.

United Community Banks Stock Up 1.1 %

Shares of United Community Banks stock opened at $25.54 on Tuesday. The business’s fifty day moving average price is $25.64 and its two-hundred day moving average price is $26.22. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $3.04 billion, a P/E ratio of 16.48 and a beta of 0.94. United Community Banks, Inc. has a 1-year low of $20.37 and a 1-year high of $30.75.

United Community Banks (NASDAQ:UCBI) last announced its earnings results on Wednesday, January 24th. The financial services provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.01. The firm had revenue of $165.70 million for 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 firm’s revenue for the quarter was down 25.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.75 EPS. As a group, research analysts forecast that United Community Banks, Inc. will post 2.15 EPS for the current year.

United Community Banks Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.60%. The ex-dividend date was Thursday, March 14th. United Community Banks’s payout ratio is currently 59.36%.

Analyst Upgrades and Downgrades

UCBI has been the subject of a number of analyst reports. StockNews.com upgraded United Community Banks to a “sell” rating in a research report on Wednesday, January 17th. Truist Financial reduced their price objective on United Community Banks from $31.00 to $28.00 and set a “hold” rating for the company in a research report on Monday, April 1st. TheStreet lowered United Community Banks from a “b” rating to a “c+” rating in a research report on Wednesday, January 24th. DA Davidson restated a “buy” rating on shares of United Community Banks in a research report on Monday, January 15th. Finally, Piper Sandler boosted their price objective 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 equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, United Community Banks has an average rating of “Hold” and a consensus price target of $31.00.

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.