Hsbc Holdings PLC Has $3.62 Million Stock Position in United Community Banks, Inc. $UCB

Hsbc Holdings PLC raised its stake in United Community Banks, Inc. (NYSE:UCB) by 365.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 114,896 shares of the company’s stock after acquiring an additional 90,234 shares during the period. Hsbc Holdings PLC’s holdings in United Community Banks were worth $3,615,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in UCB. DGS Capital Management LLC bought a new stake in shares of United Community Banks during the first quarter worth $222,000. QRG Capital Management Inc. lifted its position in United Community Banks by 14.8% in the 1st quarter. QRG Capital Management Inc. now owns 7,852 shares of the company’s stock valued at $247,000 after acquiring an additional 1,012 shares in the last quarter. HB Wealth Management LLC boosted its stake in United Community Banks by 4.2% in the 1st quarter. HB Wealth Management LLC now owns 19,540 shares of the company’s stock worth $615,000 after purchasing an additional 779 shares during the period. MQS Management LLC boosted its stake in United Community Banks by 21.8% in the 1st quarter. MQS Management LLC now owns 13,923 shares of the company’s stock worth $438,000 after purchasing an additional 2,491 shares during the period. Finally, Inspire Investing LLC boosted its stake in United Community Banks by 8.7% in the 1st quarter. Inspire Investing LLC now owns 16,259 shares of the company’s stock worth $512,000 after purchasing an additional 1,304 shares during the period. Institutional investors and hedge funds own 82.29% of the company’s stock.

Insider Buying and Selling at United Community Banks

In other news, EVP Richard Bradshaw sold 1,510 shares of the firm’s stock in a transaction dated Monday, April 27th. The stock was 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 in the company, valued at $2,796,005.73. This trade represents a 1.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.45% of the stock is owned by insiders.

United Community Banks Stock Performance

Shares of UCB opened at $35.19 on Friday. United Community Banks, Inc. has a 12 month low of $28.65 and a 12 month high of $37.18. The firm has a fifty day simple moving average of $34.26 and a 200 day simple moving average of $33.49. The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of 11.58 and a beta of 0.81. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22.

United Community Banks (NYSE:UCB) last released its earnings results on Tuesday, July 21st. The company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). United Community Banks had a net margin of 24.43% and a return on equity of 9.61%. The business had revenue of $279.28 million during the quarter. Research analysts forecast that United Community Banks, Inc. will post 2.93 EPS for the current fiscal year.

United Community Banks Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 3rd. Stockholders of record on Monday, June 15th were issued a $0.25 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.00 annualized dividend and a dividend yield of 2.8%. United Community Banks’s dividend payout ratio (DPR) is presently 32.89%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on UCB. TD Cowen raised United Community Banks to a “strong-buy” rating in a research note on Thursday, July 16th. Weiss Ratings raised United Community Banks from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, June 30th. Hovde Group decreased their price objective on United Community Banks from $38.00 to $37.00 and set a “market perform” rating for the company in a report on Monday, April 27th. Piper Sandler reiterated a “neutral” rating and set a $37.00 price objective on shares of United Community Banks in a report on Wednesday. Finally, Wall Street Zen lowered United Community Banks from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.80.

About United Community Banks

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.