American Century Companies Inc. Takes $3.98 Million Position in United Community Banks, Inc. (UCBI)
American Century Companies Inc. purchased a new stake in United Community Banks, Inc. (NASDAQ:UCBI) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 139,484 shares of the financial services provider’s stock, valued at approximately $3,981,000. American Century Companies Inc. owned approximately 0.20% of United Community Banks at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Riverhead Capital Management LLC raised its holdings in United Community Banks by 134.3% in the second quarter. Riverhead Capital Management LLC now owns 5,390 shares of the financial services provider’s stock valued at $150,000 after acquiring an additional 3,090 shares in the last quarter. Palouse Capital Management Inc. acquired a new stake in United Community Banks in the third quarter valued at $207,000. Amalgamated Bank raised its holdings in United Community Banks by 1.5% in the second quarter. Amalgamated Bank now owns 9,645 shares of the financial services provider’s stock valued at $268,000 after acquiring an additional 140 shares in the last quarter. Citadel Advisors LLC acquired a new stake in United Community Banks in the second quarter valued at $311,000. Finally, HighTower Advisors LLC acquired a new stake in United Community Banks in the second quarter valued at $328,000. 84.07% of the stock is currently owned by hedge funds and other institutional investors.
UCBI has been the topic of a number of research reports. Zacks Investment Research raised shares of United Community Banks from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Friday, October 27th. SunTrust Banks, Inc. reissued a “buy” rating and set a $33.00 target price on shares of United Community Banks in a report on Thursday, October 12th. BidaskClub cut shares of United Community Banks from a “sell” rating to a “strong sell” rating in a report on Thursday, August 17th. ValuEngine cut shares of United Community Banks from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Finally, FIG Partners raised shares of United Community Banks from a “market perform” rating to an “outperform” rating and set a $32.00 target price on the stock in a report on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $31.25.
Shares of United Community Banks, Inc. (NASDAQ:UCBI) opened at $27.12 on Friday. The firm has a market cap of $2,021.57, a price-to-earnings ratio of 17.11 and a beta of 0.88. United Community Banks, Inc. has a twelve month low of $24.47 and a twelve month high of $30.47. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.52.
United Community Banks (NASDAQ:UCBI) last issued its earnings results on Tuesday, October 24th. The financial services provider reported $0.41 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.41. The company had revenue of $109.35 million for the quarter, compared to analysts’ expectations of $114.65 million. United Community Banks had a net margin of 23.09% and a return on equity of 10.31%. The firm’s revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.36 earnings per share. sell-side analysts anticipate that United Community Banks, Inc. will post 1.63 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 15th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.40 annualized dividend and a dividend yield of 1.47%. United Community Banks’s dividend payout ratio is currently 27.03%.
About United Community Banks
United Community Banks, Inc (United) 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.
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