State of Alaska Department of Revenue Has $2.16 Million Holdings in United Community Banks, Inc. $UCB

State of Alaska Department of Revenue lifted its position in shares of United Community Banks, Inc. (NASDAQ:UCB) by 9.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,376 shares of the company’s stock after buying an additional 6,237 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of United Community Banks worth $2,155,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. State of Wyoming increased its position in shares of United Community Banks by 9.4% during the first quarter. State of Wyoming now owns 4,010 shares of the company’s stock worth $113,000 after buying an additional 344 shares during the period. Xponance Inc. increased its position in shares of United Community Banks by 5.8% during the first quarter. Xponance Inc. now owns 9,094 shares of the company’s stock worth $256,000 after buying an additional 500 shares during the period. Great Lakes Advisors LLC increased its position in shares of United Community Banks by 0.6% during the first quarter. Great Lakes Advisors LLC now owns 94,983 shares of the company’s stock worth $2,672,000 after buying an additional 584 shares during the period. Quarry LP acquired a new stake in shares of United Community Banks during the first quarter worth $26,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of United Community Banks during the fourth quarter worth $42,000. 82.29% of the stock is currently owned by institutional investors and hedge funds.

United Community Banks Stock Up 0.7%

United Community Banks stock opened at $31.14 on Friday. United Community Banks, Inc. has a 1-year low of $22.93 and a 1-year high of $35.38. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of 15.27 and a beta of 0.86. The firm’s fifty day moving average price is $31.70 and its two-hundred day moving average price is $29.57. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.08.

United Community Banks (NASDAQ:UCB) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates 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% compared to the same quarter last year. On average, equities research analysts predict that United Community Banks, Inc. will post 2.52 earnings per share for the current fiscal year.

United Community Banks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.2%. This is a positive change from United Community Banks’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Monday, September 15th. United Community Banks’s payout ratio is 45.45%.

Insider Buying and Selling at United Community Banks

In other United Community Banks news, EVP Richard Bradshaw sold 1,616 shares of the firm’s 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 transaction, the executive vice president directly owned 78,395 shares of the company’s stock, valued at approximately $2,425,541.30. This trade represents a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

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

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.