Russell Investments Group Ltd. Increases Stock Position in United Community Banks, Inc. $UCB

Russell Investments Group Ltd. raised its holdings in shares of United Community Banks, Inc. (NASDAQ:UCB) by 4.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 101,973 shares of the company’s stock after acquiring an additional 4,757 shares during the period. Russell Investments Group Ltd. owned about 0.09% of United Community Banks worth $2,869,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Versant Capital Management Inc bought a new position in United Community Banks during the first quarter valued at approximately $37,000. Public Employees Retirement System of Ohio bought a new position in United Community Banks during the fourth quarter valued at approximately $42,000. MassMutual Private Wealth & Trust FSB bought a new position in United Community Banks during the first quarter valued at approximately $45,000. Tower Research Capital LLC TRC bought a new position in United Community Banks during the fourth quarter valued at approximately $59,000. Finally, CWM LLC bought a new position in United Community Banks during the first quarter valued at approximately $62,000. 82.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on UCB. DA Davidson increased their price target on shares of United Community Banks from $34.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Keefe, Bruyette & Woods increased their price target on shares of United Community Banks from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Monday, July 28th. Raymond James Financial restated a “market perform” rating on shares of United Community Banks in a report on Tuesday, July 8th. Finally, Hovde Group raised their target price on shares of United Community Banks from $35.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $34.57.

Insiders Place Their Bets

In related news, EVP Richard Bradshaw sold 1,616 shares of United Community Banks stock in a transaction on Monday, July 28th. The shares were sold at an average price of $30.94, for a total value of $49,999.04. Following the sale, the executive vice president owned 78,395 shares in the company, valued at $2,425,541.30. The trade was a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.43% of the stock is currently owned by company insiders.

United Community Banks Stock Up 4.9%

Shares of United Community Banks stock opened at $32.8090 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.78 and a current ratio of 0.78. United Community Banks, Inc. has a 52-week low of $22.93 and a 52-week high of $35.38. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 16.08 and a beta of 0.83. The company’s 50 day moving average price is $30.56 and its 200-day moving average price is $29.35.

United Community Banks (NASDAQ:UCB) last issued its earnings results on Wednesday, July 23rd. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.05. United Community Banks had a net margin of 16.48% and a return on equity of 8.64%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. Equities research analysts forecast that United Community Banks, Inc. will post 2.52 EPS for the current year.

United Community Banks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.0%. This is an increase from United Community Banks’s previous quarterly dividend of $0.24. The ex-dividend date is Monday, September 15th. United Community Banks’s dividend payout ratio (DPR) is presently 45.45%.

About United Community Banks

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.