United Community Banks, Inc. (NASDAQ:UCBI) Shares Sold by NFJ Investment Group LLC

NFJ Investment Group LLC lessened its position in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 3.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 148,587 shares of the financial services provider’s stock after selling 5,461 shares during the period. NFJ Investment Group LLC’s holdings in United Community Banks were worth $4,756,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of UCBI. First Trust Advisors LP boosted its holdings in shares of United Community Banks by 16.1% in the 1st quarter. First Trust Advisors LP now owns 115,124 shares of the financial services provider’s stock valued at $2,870,000 after buying an additional 15,947 shares in the last quarter. Amundi Pioneer Asset Management Inc. acquired a new position in shares of United Community Banks in the 1st quarter valued at $165,000. Envestnet Asset Management Inc. boosted its holdings in shares of United Community Banks by 5.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 72,953 shares of the financial services provider’s stock valued at $2,489,000 after buying an additional 3,675 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of United Community Banks by 8.5% in the 1st quarter. Alliancebernstein L.P. now owns 166,154 shares of the financial services provider’s stock valued at $5,669,000 after buying an additional 13,038 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of United Community Banks by 0.8% in the 1st quarter. Rhumbline Advisers now owns 278,025 shares of the financial services provider’s stock valued at $9,486,000 after buying an additional 2,192 shares in the last quarter. Institutional investors own 89.36% of the company’s stock.

Shares of NASDAQ:UCBI opened at $30.48 on Friday. The stock has a market cap of $2.64 billion, a P/E ratio of 10.96 and a beta of 1.26. The firm has a fifty day moving average price of $29.54 and a 200 day moving average price of $32.18. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.78 and a quick ratio of 0.77. United Community Banks, Inc. has a 1-year low of $15.91 and a 1-year high of $36.67.

United Community Banks (NASDAQ:UCBI) last issued its quarterly earnings results on Monday, July 19th. The financial services provider reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.12. The firm had revenue of $174.22 million during the quarter, compared to analysts’ expectations of $169.90 million. United Community Banks had a net margin of 33.15% and a return on equity of 13.28%. United Community Banks’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 EPS. Sell-side analysts expect that United Community Banks, Inc. will post 2.85 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 5th. Investors of record on Wednesday, September 15th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, September 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.62%. This is a boost from United Community Banks’s previous quarterly dividend of $0.19. United Community Banks’s dividend payout ratio is currently 40.40%.

Several brokerages have recently issued reports on UCBI. Raymond James lowered their target price on shares of United Community Banks from $39.00 to $36.00 and set an “outperform” rating for the company in a report on Wednesday, July 21st. Zacks Investment Research upgraded shares of United Community Banks from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a report on Wednesday, July 21st.

In other news, EVP Robert A. Edwards acquired 9,900 shares of the business’s stock in a transaction on Friday, August 6th. The stock was bought at an average price of $30.30 per share, for a total transaction of $299,970.00. Following the transaction, the executive vice president now owns 42,333 shares in the company, valued at $1,282,689.90. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO H Lynn Harton sold 10,000 shares of the company’s stock in a transaction on Thursday, July 1st. The stock was sold at an average price of $32.16, for a total transaction of $321,600.00. The disclosure for this sale can be found here. 0.62% of the stock is owned by corporate insiders.

About United Community Banks

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

Further Reading: Should You Consider an Index Fund?

Want to see what other hedge funds are holding UCBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Community Banks, Inc. (NASDAQ:UCBI).

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

Receive News & Ratings for United Community Banks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Community Banks and related companies with MarketBeat.com's FREE daily email newsletter.