United Community Banks, Inc. $UCB Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. cut its position in United Community Banks, Inc. (NYSE:UCB) by 50.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,672 shares of the company’s stock after selling 13,831 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in United Community Banks were worth $407,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of UCB. Vanguard Group Inc. grew its stake in shares of United Community Banks by 2.9% in the first quarter. Vanguard Group Inc. now owns 14,336,816 shares of the company’s stock worth $403,295,000 after acquiring an additional 404,866 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in United Community Banks by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,151,914 shares of the company’s stock worth $173,047,000 after purchasing an additional 92,952 shares in the last quarter. Invesco Ltd. raised its position in United Community Banks by 4.1% in the 1st quarter. Invesco Ltd. now owns 1,513,333 shares of the company’s stock valued at $42,570,000 after purchasing an additional 59,902 shares in the last quarter. Charles Schwab Investment Management Inc. acquired a new stake in United Community Banks in the 1st quarter valued at about $40,871,000. Finally, Wellington Management Group LLP boosted its stake in shares of United Community Banks by 149.3% in the 1st quarter. Wellington Management Group LLP now owns 886,741 shares of the company’s stock valued at $24,944,000 after buying an additional 531,058 shares during the period. Hedge funds and other institutional investors own 82.29% of the company’s stock.

United Community Banks Stock Performance

Shares of UCB opened at $29.74 on Friday. The firm has a market cap of $3.61 billion, a PE ratio of 11.80 and a beta of 0.91. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.04. United Community Banks, Inc. has a 1 year low of $22.93 and a 1 year high of $35.38. The firm has a fifty day moving average price of $30.66.

United Community Banks (NYSE:UCB) last posted its quarterly earnings results on Wednesday, October 22nd. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.70 by $0.05. United Community Banks had a return on equity of 9.42% and a net margin of 20.67%.The business had revenue of $276.85 million during the quarter, compared to analysts’ expectations of $270.85 million. During the same period last year, the firm earned $0.57 EPS. The company’s quarterly revenue was up 27.4% compared to the same quarter last year.

United Community Banks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, December 15th. United Community Banks’s dividend payout ratio is 39.68%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. DA Davidson increased their price objective 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. Hovde Group boosted 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. Wall Street Zen upgraded United Community Banks from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of United Community Banks in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods increased their price objective on United Community Banks from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Monday, July 28th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, United Community Banks currently has a consensus rating of “Hold” and a consensus target price of $35.33.

Insider Activity

In other news, EVP Richard Bradshaw sold 1,654 shares of the business’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $30.23, for a total value of $50,000.42. Following the completion of the transaction, the executive vice president directly owned 75,226 shares of the company’s stock, valued at $2,274,081.98. The trade was a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.43% 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.