KLP Kapitalforvaltning AS Boosts Holdings in United Community Banks, Inc. $UCB

KLP Kapitalforvaltning AS grew its position in shares of United Community Banks, Inc. (NYSE:UCB) by 7.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,500 shares of the company’s stock after purchasing an additional 1,800 shares during the period. KLP Kapitalforvaltning AS’s holdings in United Community Banks were worth $764,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. State of Wyoming grew 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 in the last quarter. Xponance Inc. grew 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 in the last quarter. Great Lakes Advisors LLC grew 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 in the last quarter. Quarry LP acquired a new stake in shares of United Community Banks during the first quarter worth approximately $26,000. Finally, Harbor Capital Advisors Inc. grew its position in shares of United Community Banks by 3.5% during the second quarter. Harbor Capital Advisors Inc. now owns 44,996 shares of the company’s stock worth $1,340,000 after buying an additional 1,506 shares in the last quarter. Hedge funds and other institutional investors own 82.29% of the company’s stock.

Insider Activity

In other news, EVP Richard Bradshaw sold 1,616 shares of the business’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 transaction, the executive vice president owned 78,395 shares of the company’s stock, valued at approximately $2,425,541.30. The trade was a 2.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of United Community Banks in a research report on Wednesday, October 8th. DA Davidson raised their price target on shares of United Community Banks from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Raymond James Financial downgraded shares of United Community Banks from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods raised their price target on shares of United Community Banks from $32.00 to $34.00 and gave the stock a “market perform” rating in a research report on Monday, July 28th. Finally, Wall Street Zen raised shares of United Community Banks from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $34.57.

United Community Banks Price Performance

United Community Banks stock opened at $29.46 on Friday. The firm has a market capitalization of $3.58 billion, a P/E ratio of 13.39 and a beta of 0.83. The stock has a fifty day simple moving average of $31.90. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.04. United Community Banks, Inc. has a 12 month low of $22.93 and a 12 month high of $35.38.

United Community Banks (NYSE:UCB) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. United Community Banks had a net margin of 17.93% and a return on equity of 8.91%. The firm had revenue of $260.24 million during the quarter. The firm’s revenue was up 6.1% compared to the same quarter last year.

United Community Banks Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Monday, September 15th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.4%. This is a positive change from United Community Banks’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Monday, September 15th. United Community Banks’s dividend payout ratio is presently 45.45%.

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.