AlphaQuest LLC Increases Holdings in United Community Banks, Inc. $UCB

AlphaQuest LLC raised its stake in shares of United Community Banks, Inc. (NYSE:UCB) by 82.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 122,631 shares of the company’s stock after buying an additional 55,402 shares during the quarter. AlphaQuest LLC owned about 0.10% of United Community Banks worth $3,844,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Twin Peaks Wealth Advisors LLC bought a new stake in United Community Banks during the second quarter valued at $25,000. First Horizon Corp bought a new stake in United Community Banks in the 3rd quarter worth approximately $27,000. Hantz Financial Services Inc. lifted its holdings in shares of United Community Banks by 213.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,048 shares of the company’s stock worth $31,000 after acquiring an additional 714 shares during the last quarter. Salomon & Ludwin LLC purchased a new stake in United Community Banks during the third quarter valued at about $37,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in United Community Banks by 130.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,951 shares of the company’s stock valued at $58,000 after acquiring an additional 1,106 shares during the period. 82.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Alan H. Kumler sold 12,043 shares of the business’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $35.36, for a total value of $425,840.48. Following the transaction, the chief accounting officer directly owned 21,096 shares in the company, valued at $745,954.56. The trade was a 36.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.43% of the stock is currently owned by corporate insiders.

United Community Banks Stock Up 1.3%

UCB opened at $34.68 on Friday. The company has a market capitalization of $4.22 billion, a PE ratio of 13.29 and a beta of 0.83. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.03. The firm’s 50 day simple moving average is $32.37 and its two-hundred day simple moving average is $31.56. United Community Banks, Inc. has a 1-year low of $22.93 and a 1-year high of $35.72.

United Community Banks (NYSE:UCB) last released its quarterly earnings results on Wednesday, January 14th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.02). The company had revenue of $278.39 million for the quarter, compared to the consensus estimate of $273.80 million. United Community Banks had a net margin of 21.35% and a return on equity of 9.49%. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.61 EPS.

United Community Banks declared that its board has approved a share repurchase plan on Monday, December 8th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 2.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

United Community Banks Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Monday, December 15th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Monday, December 15th. United Community Banks’s dividend payout ratio (DPR) is presently 38.31%.

Analyst Ratings Changes

UCB has been the subject of several analyst reports. Zacks Research raised shares of United Community Banks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 15th. Keefe, Bruyette & Woods raised their target price on United Community Banks from $34.00 to $36.00 and gave the company a “market perform” rating in a research note on Thursday, January 15th. Weiss Ratings reissued a “hold (c+)” rating on shares of United Community Banks in a research report on Wednesday, January 21st. DA Davidson lifted their price objective on United Community Banks from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Finally, Stephens lifted their target price on shares of United Community Banks from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, United Community Banks currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.50.

United Community Banks Company Profile

United Community Banks, Inc (NYSE: UCB) is a bank holding company headquartered in Blairsville, Georgia. It operates primarily through its subsidiary, United Community Bank, providing a broad range of banking and financial services to individual, business and governmental customers. The company’s core offerings include deposit accounts, commercial and consumer lending, mortgage origination, treasury and cash management services, and wealth management.

In addition to traditional banking products such as checking, savings and money market accounts, United Community Bank specializes in commercial real estate financing, small business administration (SBA) loans, equipment financing and agricultural lending.