US Bancorp DE increased its holdings in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 5.2% during the 4th quarter, HoldingsChannel reports. The fund owned 63,710 shares of the financial services provider’s stock after buying an additional 3,173 shares during the period. US Bancorp DE’s holdings in United Community Banks were worth $1,794,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Zions Bancorporation bought a new stake in United Community Banks during the third quarter worth about $115,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in United Community Banks by 55.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,874 shares of the financial services provider’s stock worth $137,000 after acquiring an additional 1,741 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in United Community Banks during the third quarter worth about $200,000. Magnetar Financial LLC bought a new stake in United Community Banks during the third quarter worth about $201,000. Finally, FinTrust Investment Advisory Services LLC bought a new stake in United Community Banks during the fourth quarter worth about $203,000. 83.14% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently commented on UCBI. Keefe, Bruyette & Woods raised shares of United Community Banks from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 25th. BidaskClub raised shares of United Community Banks from a “sell” rating to a “hold” rating in a research note on Tuesday, January 16th. Zacks Investment Research raised shares of United Community Banks from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Wednesday, December 27th. Finally, ValuEngine lowered shares of United Community Banks from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. United Community Banks has a consensus rating of “Buy” and an average price target of $31.00.
United Community Banks (NASDAQ:UCBI) last issued its earnings results on Tuesday, January 23rd. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.01. The firm had revenue of $118.24 million for the quarter, compared to the consensus estimate of $118.26 million. United Community Banks had a net margin of 14.14% and a return on equity of 10.12%. The business’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.40 earnings per share. research analysts forecast that United Community Banks, Inc. will post 2.21 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 5th. Stockholders of record on Thursday, March 15th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Wednesday, March 14th. This is an increase from United Community Banks’s previous quarterly dividend of $0.10. United Community Banks’s dividend payout ratio is currently 44.44%.
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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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