HB Wealth Management LLC Sells 1,059 Shares of United Community Banks, Inc. $UCB

HB Wealth Management LLC lowered its stake in shares of United Community Banks, Inc. (NYSE:UCB) by 5.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,971 shares of the company’s stock after selling 1,059 shares during the quarter. HB Wealth Management LLC’s holdings in United Community Banks were worth $506,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Quarry LP bought a new stake in United Community Banks during the first quarter worth $26,000. CWM LLC bought a new stake in United Community Banks during the first quarter worth $62,000. Geneos Wealth Management Inc. bought a new stake in United Community Banks during the first quarter worth $67,000. Smartleaf Asset Management LLC bought a new stake in United Community Banks during the first quarter worth $89,000. Finally, State of Wyoming grew its holdings in 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 in the last quarter. Institutional investors own 82.29% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on UCB shares. Wall Street Zen upgraded United Community Banks from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. DA Davidson upped their price objective on United Community Banks from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Raymond James Financial downgraded United Community Banks from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, July 8th. Weiss Ratings restated a “hold (c+)” rating on shares of United Community Banks in a research note on Saturday, September 27th. Finally, Hovde Group upped their price objective on United Community Banks from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $34.57.

United Community Banks Stock Performance

Shares of UCB opened at $31.62 on Monday. The business’s 50-day moving average is $31.70. The stock has a market cap of $3.84 billion, a PE ratio of 14.37 and a beta of 0.83. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.79 and a quick ratio of 0.79. United Community Banks, Inc. has a 52-week low of $22.93 and a 52-week high of $35.38.

United Community Banks (NYSE:UCB) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. United Community Banks had a return on equity of 8.91% and a net margin of 17.93%.The business’s revenue was up 6.1% compared to the same quarter last year.

United Community Banks Increases Dividend

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

Insiders Place Their Bets

In other United Community Banks news, EVP Richard Bradshaw sold 1,616 shares of the company’s stock in a transaction dated Monday, July 28th. The stock was 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 in the company, valued at $2,425,541.30. This represents a 2.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is owned by corporate insiders.

United Community Banks Profile

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. The company accepts various deposit products, including checking, savings, money market, and other deposit accounts.