United Community Banks, Inc. (NASDAQ:UCBI) Position Increased by Rafferty Asset Management LLC

Rafferty Asset Management LLC boosted its stake in shares of United Community Banks, Inc. (NASDAQ:UCBIFree Report) by 85.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 157,743 shares of the financial services provider’s stock after purchasing an additional 72,582 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.13% of United Community Banks worth $4,616,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in UCBI. GAMMA Investing LLC acquired a new position in shares of United Community Banks during the fourth quarter valued at $72,000. SG Americas Securities LLC acquired a new position in United Community Banks during the 4th quarter valued at about $115,000. FinTrust Capital Advisors LLC grew its position in United Community Banks by 12.5% in the 4th quarter. FinTrust Capital Advisors LLC now owns 4,493 shares of the financial services provider’s stock worth $131,000 after purchasing an additional 500 shares during the last quarter. TFO Wealth Partners LLC increased its stake in shares of United Community Banks by 111,360.0% in the fourth quarter. TFO Wealth Partners LLC now owns 5,573 shares of the financial services provider’s stock valued at $163,000 after purchasing an additional 5,568 shares during the period. Finally, Strs Ohio raised its holdings in shares of United Community Banks by 17.6% during the fourth quarter. Strs Ohio now owns 6,000 shares of the financial services provider’s stock valued at $175,000 after buying an additional 900 shares during the last quarter. 82.29% of the stock is currently owned by institutional investors.

United Community Banks Stock Performance

UCBI opened at $25.17 on Friday. The business has a 50 day moving average price of $25.74 and a two-hundred day moving average price of $26.67. 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 $3.00 billion, a price-to-earnings ratio of 16.34 and a beta of 0.92. United Community Banks, Inc. has a 1-year low of $21.63 and a 1-year high of $30.75.

United Community Banks (NASDAQ:UCBIGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. United Community Banks had a return on equity of 8.02% and a net margin of 13.62%. The company had revenue of $225.80 million for the quarter, compared to the consensus estimate of $232.00 million. During the same quarter in the previous year, the business earned $0.58 EPS. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. Research analysts predict that United Community Banks, Inc. will post 2.12 EPS for the current fiscal year.

United Community Banks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Saturday, June 15th will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.66%. United Community Banks’s dividend payout ratio (DPR) is 59.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on UCBI shares. Truist Financial decreased their price objective on United Community Banks from $31.00 to $28.00 and set a “hold” rating for the company in a report on Monday, April 1st. Piper Sandler lowered their price target on United Community Banks from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, United Community Banks has an average rating of “Hold” and an average price target of $30.60.

View Our Latest Stock Report on United Community Banks

About United Community Banks

(Free Report)

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.

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Institutional Ownership by Quarter for United Community Banks (NASDAQ:UCBI)

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