According to Zacks, “United Community Bank 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. The community banks offer a range of retail and corporate banking services, including checking, savings and time deposit accounts, secured and unsecured loans, wire transfers, brokerage services and other financial services. The Company operates through its subsidiary, United Community Bank, Blairsville, Georgia (the Bank). The Bank owns an insurance agency, United Community Insurance Services, Inc., known as United Community Advisory Services, which is a subsidiary of the Bank. “
UCBI has been the topic of several other reports. BidaskClub downgraded United Community Banks from a buy rating to a hold rating in a report on Tuesday, July 9th. ValuEngine downgraded United Community Banks from a hold rating to a sell rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $29.40.
United Community Banks (NASDAQ:UCBI) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.01. United Community Banks had a return on equity of 12.24% and a net margin of 27.88%. The company had revenue of $142.32 million for the quarter, compared to the consensus estimate of $142.30 million. During the same period in the previous year, the business earned $0.53 EPS. Equities research analysts anticipate that United Community Banks will post 2.32 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 5th. Shareholders of record on Sunday, September 15th will be issued a dividend of $0.17 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.68 annualized dividend and a yield of 2.51%. United Community Banks’s dividend payout ratio is presently 31.78%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Atria Investments LLC bought a new stake in shares of United Community Banks in the 2nd quarter worth $4,175,000. Bank of Montreal Can raised its stake in shares of United Community Banks by 57.2% in the 2nd quarter. Bank of Montreal Can now owns 17,869 shares of the financial services provider’s stock worth $511,000 after buying an additional 6,503 shares in the last quarter. Panagora Asset Management Inc. raised its stake in shares of United Community Banks by 14.9% in the 2nd quarter. Panagora Asset Management Inc. now owns 598,032 shares of the financial services provider’s stock worth $17,080,000 after buying an additional 77,573 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of United Community Banks by 24.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 429,525 shares of the financial services provider’s stock worth $12,265,000 after buying an additional 83,617 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of United Community Banks by 86.1% in the 2nd quarter. Acadian Asset Management LLC now owns 262,405 shares of the financial services provider’s stock worth $7,494,000 after buying an additional 121,433 shares in the last quarter. Institutional investors and hedge funds own 89.82% of the company’s stock.
United Community Banks Company Profile
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.
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