United Community Banks, Inc. $UCB Stock: State of Alaska Department of Revenue Lowers Holdings

State of Alaska Department of Revenue cut its position in United Community Banks, Inc. (NYSE:UCB) by 44.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,945 shares of the company’s stock after selling 19,755 shares during the quarter. State of Alaska Department of Revenue’s holdings in United Community Banks were worth $831,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Caitong International Asset Management Co. Ltd acquired a new position in United Community Banks during the 4th quarter worth about $29,000. Integrated Wealth Concepts LLC bought a new position in shares of United Community Banks during the 2nd quarter worth approximately $37,000. Public Employees Retirement System of Ohio bought a new position in United Community Banks during the second quarter worth $54,000. Evergreen Advisors LLC bought a new position in shares of United Community Banks during the 1st quarter worth about $93,000. Finally, Versant Capital Management Inc grew its stake in United Community Banks by 13.2% in the second quarter. Versant Capital Management Inc now owns 2,894 shares of the company’s stock valued at $102,000 after acquiring an additional 338 shares during the period. Institutional investors own 82.29% of the company’s stock.

United Community Banks Trading Up 3.7%

NYSE UCB opened at $37.18 on Friday. The firm has a market cap of $4.48 billion, a PE ratio of 12.40 and a beta of 0.88. United Community Banks, Inc. has a 1-year low of $28.65 and a 1-year high of $37.24. The company has a current ratio of 0.78, a quick ratio of 0.83 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average of $34.74 and a 200-day moving average of $34.40.

United Community Banks (NYSE:UCB) last issued its earnings results on Tuesday, October 20th. The company reported $0.77 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.77. The firm had revenue of $291.90 million for the quarter. United Community Banks had a net margin of 9.06% and a return on equity of 9.66%. As a group, sell-side analysts forecast that United Community Banks, Inc. will post 3.00 EPS for the current year.

United Community Banks Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 5th. Stockholders of record on Tuesday, September 15th were given a $0.26 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.8%. This is an increase from United Community Banks’s previous quarterly dividend of $0.25. United Community Banks’s dividend payout ratio is 88.14%.

Wall Street Analyst Weigh In

UCB has been the subject of a number of analyst reports. Piper Sandler lifted their price objective on shares of United Community Banks from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, September 9th. Stephens boosted their price target on shares of United Community Banks from $41.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday. Keefe, Bruyette & Woods increased their price objective on United Community Banks from $40.00 to $41.00 and gave the company an “outperform” rating in a report on Wednesday, September 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of United Community Banks in a research note on Friday, September 25th. Finally, TD Cowen upgraded United Community Banks to a “strong-buy” rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $40.00.

Insider Buying and Selling at United Community Banks

In other United Community Banks news, EVP Jefferson Harralson sold 25,000 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $35.41, for a total transaction of $885,250.00. Following the transaction, the executive vice president directly owned 37,433 shares of the company’s stock, valued at approximately $1,325,502.53. The trade was a 40.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Richard Bradshaw sold 1,424 shares of the business’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $35.09, for a total transaction of $49,968.16. Following the transaction, the executive vice president owned 83,228 shares in the company, valued at $2,920,470.52. This represents a 1.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.45% of the company’s stock.

United Community Banks Profile

United Community Banks, Inc is a bank holding company headquartered in Blairsville, Georgia. Through its principal subsidiary, United Community Bank, the company provides banking and financial services to consumers, businesses and communities primarily across the Southeastern United States.

United Community Bank offers deposit accounts, consumer and commercial lending, residential mortgages, credit cards, online and mobile banking, treasury management and other financial services. Its lending activities include commercial real estate, business, construction, residential and consumer loans.