Tyche Wealth Partners LLC Buys New Shares in United Community Banks, Inc. (NASDAQ:UCBI)

Tyche Wealth Partners LLC purchased a new stake in United Community Banks, Inc. (NASDAQ:UCBI) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,776 shares of the financial services provider’s stock, valued at approximately $491,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in United Community Banks by 1.9% during the third quarter. Vanguard Group Inc. now owns 13,278,707 shares of the financial services provider’s stock valued at $337,412,000 after purchasing an additional 245,944 shares in the last quarter. Great Lakes Advisors LLC grew its stake in United Community Banks by 12.2% in the third quarter. Great Lakes Advisors LLC now owns 171,660 shares of the financial services provider’s stock valued at $4,362,000 after purchasing an additional 18,622 shares in the last quarter. Blair William & Co. IL purchased a new position in United Community Banks in the third quarter valued at about $5,501,000. Sequoia Financial Advisors LLC increased its position in United Community Banks by 12.8% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 9,943 shares of the financial services provider’s stock worth $253,000 after purchasing an additional 1,128 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of United Community Banks by 21.4% during the 3rd quarter. Northern Trust Corp now owns 1,913,924 shares of the financial services provider’s stock worth $48,633,000 after purchasing an additional 337,102 shares in the last quarter. Institutional investors and hedge funds own 82.29% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on UCBI. Truist Financial dropped their price objective on United Community Banks from $31.00 to $28.00 and set a “hold” rating on the stock in a report on Monday, April 1st. StockNews.com raised shares of United Community Banks to a “sell” rating in a research note on Wednesday, January 17th. TheStreet downgraded shares of United Community Banks from a “b” rating to a “c+” rating in a research report on Wednesday, January 24th. Piper Sandler boosted their price target on United Community Banks from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Finally, DA Davidson reissued a “buy” rating on shares of United Community Banks in a report on Monday, January 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $31.00.

United Community Banks Stock Performance

NASDAQ UCBI traded up $0.51 during trading on Wednesday, hitting $25.05. The company’s stock had a trading volume of 28,100 shares, compared to its average volume of 639,339. United Community Banks, Inc. has a 52 week low of $20.37 and a 52 week high of $30.75. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10. The firm has a market cap of $2.98 billion, a P/E ratio of 15.83 and a beta of 0.94. The firm has a 50 day moving average price of $25.85 and a 200 day moving average price of $26.22.

United Community Banks (NASDAQ:UCBI) last released its earnings results on Wednesday, January 24th. The financial services provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.52 by $0.01. The firm had revenue of $165.70 million during the quarter, compared to analysts’ expectations of $226.07 million. United Community Banks had a net margin of 14.29% and a return on equity of 8.32%. The business’s quarterly revenue was down 25.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.75 EPS. Equities research analysts forecast that United Community Banks, Inc. will post 2.19 earnings per share for the current fiscal year.

United Community Banks Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date was Thursday, March 14th. United Community Banks’s dividend payout ratio (DPR) is presently 59.36%.

United Community Banks Profile

United Community Banks, Inc operates as the financial holding company for United Community Bank that provides financial products and services to commercial, retail, government, education, energy, health care, and real estate sectors. It accepts various deposit products, including checking, savings, money market, and other deposit accounts.