Pinnacle Wealth Management Advisory Group LLC Takes Position in United Community Banks, Inc. $UCB

Pinnacle Wealth Management Advisory Group LLC bought a new position in shares of United Community Banks, Inc. (NYSE:UCB) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 14,409 shares of the company’s stock, valued at approximately $454,000.

Several other institutional investors have also modified their holdings of the business. Cerity Partners LLC grew its stake in United Community Banks by 3.1% during the 4th quarter. Cerity Partners LLC now owns 9,955 shares of the company’s stock valued at $311,000 after purchasing an additional 298 shares in the last quarter. Maryland State Retirement & Pension System raised its position in shares of United Community Banks by 2.0% in the 4th quarter. Maryland State Retirement & Pension System now owns 17,808 shares of the company’s stock valued at $556,000 after purchasing an additional 345 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of United Community Banks by 3.2% during the 4th quarter. CIBC Asset Management Inc now owns 11,761 shares of the company’s stock valued at $367,000 after buying an additional 365 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of United Community Banks by 10.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,880 shares of the company’s stock valued at $123,000 after buying an additional 372 shares during the last quarter. Finally, Patten & Patten Inc. TN grew its position in shares of United Community Banks by 4.8% during the fourth quarter. Patten & Patten Inc. TN now owns 8,266 shares of the company’s stock worth $258,000 after buying an additional 375 shares in the last quarter. Institutional investors and hedge funds own 82.29% of the company’s stock.

United Community Banks Price Performance

Shares of UCB opened at $35.58 on Monday. The firm has a market cap of $4.26 billion, a price-to-earnings ratio of 13.08 and a beta of 0.82. The stock has a 50 day moving average of $33.35 and a 200-day moving average of $33.01. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.03. United Community Banks, Inc. has a 52 week low of $28.65 and a 52 week high of $36.77.

United Community Banks (NYSE:UCB) last posted its quarterly earnings results on Tuesday, April 21st. The company reported $0.70 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.70. The business had revenue of $278.26 million for the quarter. United Community Banks had a return on equity of 9.65% and a net margin of 22.05%.The business’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.58 earnings per share. As a group, analysts forecast that United Community Banks, Inc. will post 2.95 EPS for the current year.

United Community Banks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 3rd. Shareholders of record on Monday, June 15th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, June 15th. This represents a $1.00 annualized dividend and a yield of 2.8%. United Community Banks’s payout ratio is presently 36.76%.

Insider Buying and Selling at United Community Banks

In other United Community Banks news, EVP Richard Bradshaw sold 1,510 shares of the stock in a transaction on Monday, April 27th. The shares were sold at an average price of $33.09, for a total transaction of $49,965.90. Following the sale, the executive vice president directly owned 84,497 shares of the company’s stock, valued at approximately $2,796,005.73. This represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on UCB. Wall Street Zen lowered shares of United Community Banks from a “hold” rating to a “sell” rating in a research note on Saturday. Piper Sandler reduced their price objective on shares of United Community Banks from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 17th. Weiss Ratings lowered shares of United Community Banks from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 15th. Stephens boosted their target price on shares of United Community Banks from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Finally, Hovde Group cut their target price on shares of United Community Banks from $38.00 to $37.00 and set a “market perform” rating on the stock in a research note on Monday, April 27th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.40.

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.