Swiss National Bank Buys 4,700 Shares of United Community Banks, Inc. (NASDAQ:UCBI)

Posted by on May 17th, 2023

Swiss National Bank raised its holdings in shares of United Community Banks, Inc. (NASDAQ:UCBI – Get Rating) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 256,100 shares of the financial services provider’s stock after purchasing an additional 4,700 shares during the period. Swiss National Bank owned 0.24% of United Community Banks worth $8,656,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. increased its stake in shares of United Community Banks by 19.1% during the first quarter. BlackRock Inc. now owns 15,623,173 shares of the financial services provider’s stock valued at $543,687,000 after purchasing an additional 2,505,834 shares in the last quarter. Vanguard Group Inc. increased its position in shares of United Community Banks by 9.6% during the first quarter. Vanguard Group Inc. now owns 11,753,740 shares of the financial services provider’s stock valued at $409,029,000 after acquiring an additional 1,034,191 shares in the last quarter. State Street Corp increased its position in shares of United Community Banks by 34.7% during the first quarter. State Street Corp now owns 6,258,337 shares of the financial services provider’s stock valued at $218,903,000 after acquiring an additional 1,611,842 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of United Community Banks by 1.2% during the third quarter. Dimensional Fund Advisors LP now owns 3,194,501 shares of the financial services provider’s stock valued at $105,739,000 after acquiring an additional 39,164 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in United Community Banks by 9.7% in the first quarter. Wellington Management Group LLP now owns 2,432,510 shares of the financial services provider’s stock worth $84,651,000 after purchasing an additional 215,258 shares during the last quarter. Institutional investors own 85.41% of the company’s stock.

United Community Banks Price Performance

United Community Banks stock opened at $21.09 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a 50-day moving average of $26.17 and a two-hundred day moving average of $31.70. United Community Banks, Inc. has a 1 year low of $20.37 and a 1 year high of $39.50. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of 8.08 and a beta of 0.96.

United Community Banks (NASDAQ:UCBI – Get Rating) last posted its quarterly earnings results on Wednesday, April 19th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.10). The company had revenue of $241.68 million during the quarter, compared to analysts’ expectations of $248.78 million. United Community Banks had a return on equity of 11.48% and a net margin of 27.77%. The company’s quarterly revenue was up 19.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 EPS. On average, research analysts forecast that United Community Banks, Inc. will post 2.65 earnings per share for the current year.

United Community Banks Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 5th. Shareholders of record on Wednesday, March 15th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, March 14th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.36%. This is a boost from United Community Banks’s previous quarterly dividend of $0.22. United Community Banks’s dividend payout ratio (DPR) is currently 35.25%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Piper Sandler lowered their target price on shares of United Community Banks from $32.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, April 20th. StockNews.com began coverage on shares of United Community Banks in a report on Thursday, March 16th. They issued a “sell” rating on the stock. Keefe, Bruyette & Woods reduced their target price on shares of United Community Banks from $38.00 to $35.00 and set an “outperform” rating on the stock in a report on Thursday, April 6th. Janney Montgomery Scott downgraded shares of United Community Banks from a “buy” rating to a “neutral” rating in a report on Thursday, January 19th. Finally, Truist Financial reduced their target price on shares of United Community Banks from $30.00 to $29.00 and set a “hold” rating on the stock in a report on Friday, April 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $31.80.

About United Community Banks

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United Community Banks, Inc is a bank holding company, which engages in the provision of consumer and business banking services. The firm caters to individuals and small and medium-sized businesses. It offers checking, savings, mortgages, borrowing, digital baking, credit cards, and investing services.

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

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