CIBC Asset Management Inc Buys New Holdings in United Community Banks, Inc. (NASDAQ:UCBI)

CIBC Asset Management Inc bought a new stake in United Community Banks, Inc. (NASDAQ:UCBIFree Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 11,830 shares of the financial services provider’s stock, valued at approximately $346,000.

Other large investors have also recently bought and sold shares of the company. New York State Common Retirement Fund lifted its holdings in United Community Banks by 9.2% in the third quarter. New York State Common Retirement Fund now owns 69,076 shares of the financial services provider’s stock valued at $1,755,000 after acquiring an additional 5,806 shares during the period. Swiss National Bank lifted its holdings in United Community Banks by 4.1% in the third quarter. Swiss National Bank now owns 260,900 shares of the financial services provider’s stock valued at $6,629,000 after acquiring an additional 10,200 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in United Community Banks by 7.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,169,530 shares of the financial services provider’s stock valued at $29,718,000 after acquiring an additional 78,319 shares during the period. HighTower Advisors LLC lifted its holdings in United Community Banks by 57.9% in the third quarter. HighTower Advisors LLC now owns 507,138 shares of the financial services provider’s stock valued at $12,883,000 after acquiring an additional 185,868 shares during the period. Finally, Blair William & Co. IL acquired a new position in United Community Banks in the third quarter valued at approximately $5,501,000. Hedge funds and other institutional investors own 82.29% of the company’s stock.

United Community Banks Trading Down 2.1 %

Shares of UCBI stock opened at $24.58 on Tuesday. 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 cap of $2.93 billion, a price-to-earnings ratio of 15.96 and a beta of 0.92. The stock has a 50 day simple moving average of $25.70 and a 200-day simple moving average of $26.71. 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 announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. The company had revenue of $225.80 million for the quarter, compared to analyst estimates of $232.00 million. United Community Banks had a return on equity of 8.02% and a net margin of 13.62%. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.58 EPS. On average, equities research analysts expect that United Community Banks, Inc. will post 2.12 EPS for the current fiscal year.

United Community Banks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Saturday, June 15th will be issued a $0.23 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.92 dividend on an annualized basis and a yield of 3.74%. United Community Banks’s payout ratio is currently 59.74%.

Analysts Set New Price Targets

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

Get Our Latest Analysis on UCBI

United Community Banks Company Profile

(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.

See Also

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

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