Ameriprise Financial Inc. increased its position in United Community Banks, Inc. (NASDAQ:UCBI) by 0.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 716,856 shares of the financial services provider’s stock after acquiring an additional 1,947 shares during the period. Ameriprise Financial Inc. owned approximately 0.98% of United Community Banks worth $20,460,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. ClariVest Asset Management LLC grew its holdings in shares of United Community Banks by 3.0% in the 3rd quarter. ClariVest Asset Management LLC now owns 385,316 shares of the financial services provider’s stock worth $10,998,000 after acquiring an additional 11,377 shares during the period. SG Americas Securities LLC grew its holdings in United Community Banks by 478.1% during the 3rd quarter. SG Americas Securities LLC now owns 21,945 shares of the financial services provider’s stock valued at $626,000 after buying an additional 18,149 shares during the last quarter. Comerica Bank grew its holdings in United Community Banks by 3.4% during the 3rd quarter. Comerica Bank now owns 77,364 shares of the financial services provider’s stock valued at $2,113,000 after buying an additional 2,537 shares during the last quarter. Rhumbline Advisers grew its holdings in United Community Banks by 3.5% during the 3rd quarter. Rhumbline Advisers now owns 148,782 shares of the financial services provider’s stock valued at $4,246,000 after buying an additional 5,013 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan grew its holdings in United Community Banks by 64.1% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 27,480 shares of the financial services provider’s stock valued at $784,000 after buying an additional 10,730 shares during the last quarter. Institutional investors and hedge funds own 87.69% of the company’s stock.

A number of equities research analysts have commented on UCBI shares. FIG Partners upgraded 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. BidaskClub cut United Community Banks from a “sell” rating to a “strong sell” rating in a report on Thursday, August 17th. Zacks Investment Research upgraded United Community Banks from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Wednesday, September 27th. SunTrust Banks reiterated a “buy” rating and set a $33.00 target price on shares of United Community Banks in a report on Thursday, October 12th. Finally, ValuEngine cut United Community Banks from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. United Community Banks currently has a consensus rating of “Buy” and an average price target of $31.25.

United Community Banks, Inc. (NASDAQ:UCBI) opened at $28.11 on Monday. United Community Banks, Inc. has a 52 week low of $24.47 and a 52 week high of $30.47. The firm has a market capitalization of $2,063.41, a price-to-earnings ratio of 17.46 and a beta of 0.88. 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 quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41. United Community Banks had a return on equity of 10.31% and a net margin of 23.09%. The company had revenue of $109.35 million for the quarter, compared to analyst estimates of $114.65 million. During the same quarter in the prior year, the company posted $0.36 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. sell-side analysts expect that United Community Banks, Inc. will post 1.63 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Thursday, December 14th. United Community Banks’s dividend payout ratio is presently 27.03%.

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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.

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

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