Edgestream Partners L.P. Has $951,000 Holdings in United Community Banks, Inc. $UCB

Edgestream Partners L.P. cut its holdings in United Community Banks, Inc. (NYSE:UCB) by 55.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 30,198 shares of the company’s stock after selling 38,089 shares during the period. Edgestream Partners L.P.’s holdings in United Community Banks were worth $951,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In related news, EVP Jefferson L. Harralson sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $35.41, for a total value of $885,250.00. Following the sale, the executive vice president owned 37,433 shares in the company, valued at $1,325,502.53. This represents a 40.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Richard Bradshaw sold 1,424 shares of the firm’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $35.09, for a total value of $49,968.16. Following the transaction, the executive vice president owned 83,228 shares of the company’s stock, valued at $2,920,470.52. The trade was a 1.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.45% of the stock is currently owned by corporate insiders.

United Community Banks Stock Performance

Shares of NYSE:UCB opened at $36.11 on Wednesday. United Community Banks, Inc. has a 12 month low of $28.65 and a 12 month high of $37.18. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average price of $34.61 and a 200-day moving average price of $33.63. The company has a market cap of $4.32 billion, a price-to-earnings ratio of 11.88 and a beta of 0.82.

United Community Banks (NYSE:UCB) last issued its quarterly earnings data 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). The business had revenue of $279.28 million during the quarter. United Community Banks had a return on equity of 9.61% and a net margin of 24.43%. As a group, equities analysts anticipate that United Community Banks, Inc. will post 2.93 EPS for the current year.

United Community Banks Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 3rd. Stockholders of record on Monday, June 15th were given a $0.25 dividend. The ex-dividend date of this dividend 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 is currently 32.89%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on UCB shares. Piper Sandler restated a “neutral” rating and set a $37.00 price objective on shares of United Community Banks in a report on Wednesday, July 22nd. DA Davidson restated a “buy” rating and issued a $40.00 target price on shares of United Community Banks in a research note on Wednesday, July 22nd. Stephens boosted their price target on shares of United Community Banks from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Hovde Group decreased their price objective on shares of United Community Banks from $38.00 to $37.00 and set a “market perform” rating on the stock in a research report on Monday, April 27th. Finally, TD Cowen raised United Community Banks to a “strong-buy” rating in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.