Wealth Enhancement Advisory Services LLC Has $816,000 Stock Position in United Community Banks, Inc. $UCB

Wealth Enhancement Advisory Services LLC raised its stake in shares of United Community Banks, Inc. (NASDAQ:UCB) by 22.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,682 shares of the company’s stock after purchasing an additional 4,761 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in United Community Banks were worth $816,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. M&T Bank Corp acquired a new position in shares of United Community Banks in the 1st quarter worth approximately $926,000. Amalgamated Bank acquired a new position in shares of United Community Banks in the 1st quarter worth approximately $957,000. Principal Financial Group Inc. acquired a new position in shares of United Community Banks in the 1st quarter worth approximately $16,721,000. GAMMA Investing LLC acquired a new position in shares of United Community Banks in the 1st quarter worth approximately $132,000. Finally, PNC Financial Services Group Inc. acquired a new position in shares of United Community Banks in the 1st quarter worth approximately $460,000. 82.29% of the stock is owned by institutional investors and hedge funds.

United Community Banks Stock Performance

Shares of United Community Banks stock opened at $31.14 on Friday. The firm has a fifty day moving average of $31.70 and a two-hundred day moving average of $29.57. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 15.27 and a beta of 0.86. United Community Banks, Inc. has a 52 week low of $22.93 and a 52 week high of $35.38. 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 (NASDAQ:UCB) last issued its earnings results on Wednesday, July 23rd. The company reported $0.66 EPS for the quarter, beating 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 company’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, equities research analysts predict that United Community Banks, Inc. will post 2.52 EPS for the current year.

United Community Banks Increases Dividend

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

Insider Activity at United Community Banks

In other United Community Banks news, EVP Richard Bradshaw sold 1,616 shares of the company’s stock in a transaction on Monday, July 28th. The shares were sold at an average price of $30.94, for a total transaction of $49,999.04. Following the completion of the sale, the executive vice president owned 78,395 shares in the company, valued at approximately $2,425,541.30. The trade was a 2.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

UCB has been the topic of several recent analyst reports. Raymond James Financial reissued a “market perform” rating on shares of United Community Banks in a report on Tuesday, July 8th. Keefe, Bruyette & Woods boosted their target price on United Community Banks from $32.00 to $34.00 and gave the stock a “market perform” rating in a report on Monday, July 28th. Hovde Group boosted their target price on United Community Banks from $35.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Finally, DA Davidson boosted their target price on United Community Banks from $34.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently 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.