Horizon Investments LLC Takes $1.15 Million Position in United Community Banks, Inc. $UCB

Horizon Investments LLC acquired a new position in United Community Banks, Inc. (NYSE:UCB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 36,925 shares of the company’s stock, valued at approximately $1,153,000.

Several other hedge funds also recently modified their holdings of the business. First Horizon Corp bought a new stake in shares of United Community Banks during the third quarter worth approximately $27,000. Torren Management LLC bought a new stake in shares of United Community Banks during the 4th quarter valued at $39,000. EverSource Wealth Advisors LLC lifted its stake in shares of United Community Banks by 130.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,951 shares of the company’s stock valued at $58,000 after purchasing an additional 1,106 shares during the period. Geneos Wealth Management Inc. bought a new position in shares of United Community Banks in the 1st quarter worth $67,000. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of United Community Banks during the fourth quarter worth $100,000. Institutional investors own 82.29% of the company’s stock.

United Community Banks Stock Performance

UCB opened at $33.95 on Thursday. The company has a market capitalization of $4.06 billion, a price-to-earnings ratio of 12.48 and a beta of 0.83. The business’s 50-day moving average price is $32.26 and its two-hundred day moving average price is $32.19. United Community Banks, Inc. has a 1 year low of $27.23 and a 1 year high of $36.77. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.82 and a quick ratio of 0.82.

United Community Banks (NYSE:UCB) last posted its quarterly earnings data on Tuesday, April 21st. The company reported $0.70 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.70. The business had revenue of $276.51 million during the quarter. United Community Banks had a return on equity of 9.65% and a net margin of 22.05%.The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.58 earnings per share. Equities analysts expect that United Community Banks, Inc. will post 2.99 EPS for the current fiscal year.

United Community Banks Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 3rd. Investors of record on Friday, March 13th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, March 13th. This represents a $1.00 annualized dividend and a yield of 2.9%. United Community Banks’s dividend payout ratio is presently 36.76%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on UCB shares. Piper Sandler boosted their target price on United Community Banks from $35.00 to $36.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 22nd. DA Davidson reaffirmed a “buy” rating and issued a $39.00 target price on shares of United Community Banks in a research note on Wednesday, April 22nd. Zacks Research cut shares of United Community Banks from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Weiss Ratings raised shares of United Community Banks from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, March 3rd. Finally, Stephens raised their price objective on United Community Banks from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.40.

Insider Buying and Selling

In related news, EVP Richard Bradshaw sold 1,510 shares of the firm’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $33.09, for a total value of $49,965.90. Following the completion of the transaction, the executive vice president owned 84,497 shares of the company’s stock, valued at approximately $2,796,005.73. This trade represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.45% of the company’s stock.

United Community Banks 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.