United Community Banks, Inc. (UCBI) Position Lifted by California Public Employees Retirement System

California Public Employees Retirement System increased its holdings in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 18.2% during the third quarter, Holdings Channel reports. The fund owned 127,458 shares of the financial services provider’s stock after acquiring an additional 19,658 shares during the quarter. California Public Employees Retirement System’s holdings in United Community Banks were worth $3,638,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Zions Bancorporation acquired a new position in shares of United Community Banks during the 3rd quarter worth approximately $115,000. Riverhead Capital Management LLC increased its holdings in shares of United Community Banks by 134.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,390 shares of the financial services provider’s stock worth $150,000 after acquiring an additional 3,090 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of United Community Banks during the 3rd quarter worth approximately $200,000. Magnetar Financial LLC acquired a new position in shares of United Community Banks during the 3rd quarter worth approximately $201,000. Finally, Palouse Capital Management Inc. acquired a new position in shares of United Community Banks during the 3rd quarter worth approximately $207,000. 87.67% of the stock is currently owned by institutional investors and hedge funds.

United Community Banks, Inc. (UCBI) opened at $30.86 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.52. United Community Banks, Inc. has a 1-year low of $24.47 and a 1-year high of $31.37. The company has a market capitalization of $2,260.00, a price-to-earnings ratio of 20.99 and a beta of 0.89.

United Community Banks (NASDAQ:UCBI) last issued its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.41 EPS for the quarter, meeting analysts’ consensus estimates of $0.41. United Community Banks had a return on equity of 10.31% and a net margin of 23.09%. The firm had revenue of $109.35 million for the quarter, compared to analyst estimates of $114.65 million. During the same period in the prior year, the firm posted $0.36 EPS. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. equities research analysts predict that United Community Banks, Inc. will post 1.63 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 5th. Shareholders of record on Friday, December 15th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend was Thursday, December 14th. United Community Banks’s dividend payout ratio is 27.21%.

A number of research analysts recently weighed in on the company. BidaskClub lowered United Community Banks from a “hold” rating to a “sell” rating in a report on Saturday, January 6th. Zacks Investment Research lowered United Community Banks from a “buy” rating to a “hold” rating and set a $31.00 target price on the stock. in a report on Saturday, January 6th. ValuEngine lowered United Community Banks from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $33.00 price objective on shares of United Community Banks in a report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $31.00.

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United Community Banks 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.

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

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