JPMorgan Chase & Co. Acquires 116,053 Shares of United Community Banks, Inc. (UCBI)

JPMorgan Chase & Co. raised its stake in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 14.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 933,344 shares of the financial services provider’s stock after buying an additional 116,053 shares during the period. JPMorgan Chase & Co. owned about 1.32% of United Community Banks worth $19,619,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of UCBI. BlackRock Fund Advisors boosted its stake in shares of United Community Banks by 24.8% in the second quarter. BlackRock Fund Advisors now owns 4,479,048 shares of the financial services provider’s stock valued at $81,922,000 after buying an additional 890,306 shares during the last quarter. Vanguard Group Inc. boosted its stake in United Community Banks by 16.2% in the second quarter. Vanguard Group Inc. now owns 3,972,284 shares of the financial services provider’s stock worth $72,653,000 after buying an additional 554,912 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in United Community Banks by 17.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,620,851 shares of the financial services provider’s stock worth $47,935,000 after buying an additional 388,764 shares in the last quarter. Victory Capital Management Inc. boosted its stake in United Community Banks by 5.9% in the third quarter. Victory Capital Management Inc. now owns 2,433,638 shares of the financial services provider’s stock worth $51,155,000 after buying an additional 136,093 shares in the last quarter. Finally, Allianz Asset Management AG purchased a new stake in United Community Banks during the second quarter worth approximately $42,822,000.

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

Shares of United Community Banks, Inc. (NASDAQ:UCBI) remained flat at $29.47 during trading on Monday. The company’s stock had a trading volume of 278,090 shares. The company has a market capitalization of $2.09 billion and a price-to-earnings ratio of 23.17. United Community Banks, Inc. has a 52 week low of $15.74 and a 52 week high of $30.22. The firm’s 50-day moving average price is $27.13 and its 200-day moving average price is $21.75.

United Community Banks (NASDAQ:UCBI) last issued its quarterly earnings results on Wednesday, October 26th. The financial services provider reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. During the same quarter last year, the business posted $0.33 EPS. Equities research analysts forecast that United Community Banks, Inc. will post $1.46 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 5th. Stockholders of record on Thursday, December 15th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.09%.

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UCBI has been the subject of a number of recent analyst reports. Citigroup Inc. cut shares of United Community Banks to an “outperform” rating and set a $32.00 price objective for the company. in a research report on Thursday, December 15th. Zacks Investment Research cut shares of United Community Banks from a “buy” rating to a “hold” rating in a research report on Thursday, December 1st. Raymond James Financial Inc. upgraded shares of United Community Banks from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $22.00 to $24.00 in a research report on Thursday, October 6th. Hovde Group cut shares of United Community Banks from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $22.00 to $23.00 in a research report on Thursday, October 27th. Finally, Keefe, Bruyette & Woods cut shares of United Community Banks from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $24.00 to $26.00 in a research report on Tuesday, November 29th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $27.50.

United Community Banks Company Profile

United Community Banks, Inc is a bank holding company. The Company’s principal business is conducted by its subsidiary, United Community Bank (the Bank). The Bank is a chartered commercial bank that serves markets throughout north Georgia, coastal Georgia, the Atlanta-Sandy Springs-Roswell, Georgia and Gainesville, Georgia metropolitan statistical areas, western North Carolina, upstate South Carolina and east Tennessee.

5 Day Chart for NASDAQ:UCBI

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