United Community Banks, Inc. (UCBI) Position Reduced by Wellington Management Group LLP

Wellington Management Group LLP lowered its position in United Community Banks, Inc. (NASDAQ:UCBI) by 47.3% during the first quarter, Holdings Channel reports. The fund owned 1,598,843 shares of the financial services provider’s stock after selling 1,436,105 shares during the period. Wellington Management Group LLP’s holdings in United Community Banks were worth $44,273,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of UCBI. Meadow Creek Investment Management LLC acquired a new position in United Community Banks during the first quarter worth $101,000. Cypress Capital Management LLC WY acquired a new position in United Community Banks during the first quarter worth $122,000. Glen Harbor Capital Management LLC acquired a new position in United Community Banks during the first quarter worth $122,000. LS Investment Advisors LLC increased its position in United Community Banks by 89.3% in the first quarter. LS Investment Advisors LLC now owns 4,993 shares of the financial services provider’s stock worth $138,000 after buying an additional 2,355 shares during the period. Finally, Ameritas Investment Partners Inc. acquired a new position in United Community Banks during the first quarter worth $168,000. Institutional investors and hedge funds own 92.26% of the company’s stock.

Institutional Ownership by Quarter for United Community Banks (NASDAQ:UCBI)

Shares of United Community Banks, Inc. (NASDAQ:UCBI) traded down 1.26% on Tuesday, hitting $27.37. 24,280 shares of the stock were exchanged. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 19.29 and a beta of 0.88. The stock’s 50-day moving average is $27.07 and its 200-day moving average is $28.00. United Community Banks, Inc. has a 1-year low of $17.07 and a 1-year high of $30.47.

United Community Banks (NASDAQ:UCBI) last announced its earnings results on Wednesday, April 26th. The financial services provider reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The company had revenue of $104.83 million during the quarter, compared to the consensus estimate of $104.30 million. United Community Banks had a net margin of 23.03% and a return on equity of 10.28%. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.33 earnings per share. Analysts forecast that United Community Banks, Inc. will post $1.62 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Thursday, June 15th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $0.36 annualized dividend and a dividend yield of 1.30%. This is an increase from United Community Banks’s previous quarterly dividend of $0.08. United Community Banks’s dividend payout ratio is currently 25.35%.

WARNING: “United Community Banks, Inc. (UCBI) Position Reduced by Wellington Management Group LLP” was originally posted by Ticker Report and is the sole property of of Ticker Report. If you are viewing this report on another website, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright law. The correct version of this report can be read at https://www.tickerreport.com/banking-finance/2655440/united-community-banks-inc-ucbi-position-reduced-by-wellington-management-group-llp.html.

A number of research analysts recently weighed in on UCBI shares. ValuEngine raised shares of United Community Banks from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Zacks Investment Research raised shares of United Community Banks from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Wednesday, March 29th. Keefe, Bruyette & Woods set a $30.00 target price on shares of United Community Banks and gave the company a “hold” rating in a research report on Monday, April 10th. Finally, Hovde Group raised shares of United Community Banks from a “market perform” rating to an “outperform” rating and set a $31.00 target price for the company in a research report on Wednesday, May 3rd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $31.00.

United Community Banks Company Profile

United Community Banks, Inc (United) is a bank holding company. United conducts its operations through a community-focused operating model of separate community banks, which, as of December 31, 2016, operated at 139 locations throughout the Atlanta-Sandy Springs-Roswell, Georgia, and Gainesville, Georgia metropolitan statistical areas, upstate and coastal South Carolina, north and coastal Georgia, western North Carolina, and east Tennessee.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:UCBI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Want to see what other hedge funds are holding UCBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Community Banks, Inc. (NASDAQ:UCBI).

Receive News & Ratings for United Community Banks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Community Banks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
President Trump Hurting Tourism in the U.S.
President Trump Hurting Tourism in the U.S.
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.