Vaughan Nelson Investment Management L.P. Cuts Position in United Community Banks, Inc. (UCBI)

Vaughan Nelson Investment Management L.P. cut its stake in United Community Banks, Inc. (NASDAQ:UCBI) by 5.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,329,139 shares of the financial services provider’s stock after selling 129,300 shares during the period. Vaughan Nelson Investment Management L.P. owned about 2.94% of United Community Banks worth $64,960,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Raymond James & Associates grew its position in United Community Banks by 9.1% in the second quarter. Raymond James & Associates now owns 23,845 shares of the financial services provider’s stock worth $731,000 after acquiring an additional 1,993 shares in the last quarter. State of Alaska Department of Revenue grew its position in United Community Banks by 9.4% in the third quarter. State of Alaska Department of Revenue now owns 26,330 shares of the financial services provider’s stock worth $734,000 after acquiring an additional 2,267 shares in the last quarter. Texas Permanent School Fund grew its position in United Community Banks by 4.8% in the third quarter. Texas Permanent School Fund now owns 49,796 shares of the financial services provider’s stock worth $1,389,000 after acquiring an additional 2,303 shares in the last quarter. Pinebridge Investments L.P. grew its position in United Community Banks by 5.0% in the second quarter. Pinebridge Investments L.P. now owns 60,144 shares of the financial services provider’s stock worth $1,844,000 after acquiring an additional 2,879 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its position in United Community Banks by 14.3% in the second quarter. Metropolitan Life Insurance Co. NY now owns 25,412 shares of the financial services provider’s stock worth $779,000 after acquiring an additional 3,178 shares in the last quarter. Institutional investors own 85.42% of the company’s stock.

NASDAQ UCBI opened at $25.06 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.42. United Community Banks, Inc. has a 12-month low of $22.83 and a 12-month high of $34.18. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 15.37 and a beta of 0.99.

United Community Banks (NASDAQ:UCBI) last posted its quarterly earnings results on Tuesday, October 23rd. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.55. United Community Banks had a net margin of 19.16% and a return on equity of 11.64%. The business had revenue of $134.50 million during the quarter, compared to analyst estimates of $136.53 million. During the same period in the prior year, the business posted $0.41 earnings per share. The company’s revenue was up 23.1% on a year-over-year basis. Sell-side analysts predict that United Community Banks, Inc. will post 2.13 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 7th. Shareholders of record on Saturday, December 15th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.55%. This is a positive change from United Community Banks’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, December 13th. United Community Banks’s dividend payout ratio is presently 36.81%.

Several research analysts recently issued reports on the stock. BidaskClub upgraded shares of United Community Banks from a “sell” rating to a “hold” rating in a research report on Tuesday, November 13th. Zacks Investment Research upgraded shares of United Community Banks from a “sell” rating to a “hold” rating in a research report on Friday, September 28th. Stephens restated a “hold” rating and set a $24.00 price target on shares of United Community Banks in a research report on Thursday, October 25th. FIG Partners restated an “outperform” rating on shares of United Community Banks in a research report on Thursday, September 20th. Finally, Hovde Group set a $34.00 price target on shares of United Community Banks and gave the company a “buy” rating in a research report on Monday, July 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. United Community Banks has a consensus rating of “Hold” and a consensus price target of $28.40.

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About United Community Banks

United Community Banks, Inc operates as the bank holding company for United Community Bank that provides retail and corporate banking services to individuals and businesses. It offers various deposit accounts, such as checking accounts, savings and time deposits accounts, NOW accounts, money market deposits, and certificates of deposit.

Read More: Ex-Dividend

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

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