Dimensional Fund Advisors LP grew its stake in United Community Banks, Inc. (NASDAQ:UCBI) by 2.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,231,787 shares of the financial services provider’s stock after purchasing an additional 65,612 shares during the period. Dimensional Fund Advisors LP owned approximately 4.55% of United Community Banks worth $89,845,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Citadel Advisors LLC bought a new stake in shares of United Community Banks in the 2nd quarter valued at approximately $311,000. Nordea Investment Management AB lifted its stake in shares of United Community Banks by 0.8% in the 2nd quarter. Nordea Investment Management AB now owns 251,400 shares of the financial services provider’s stock valued at $6,989,000 after purchasing an additional 2,100 shares during the last quarter. Suntrust Banks Inc. lifted its stake in shares of United Community Banks by 18.7% in the 2nd quarter. Suntrust Banks Inc. now owns 15,448 shares of the financial services provider’s stock valued at $429,000 after purchasing an additional 2,434 shares during the last quarter. M&T Bank Corp lifted its stake in shares of United Community Banks by 6.0% in the 2nd quarter. M&T Bank Corp now owns 11,978 shares of the financial services provider’s stock valued at $334,000 after purchasing an additional 681 shares during the last quarter. Finally, California Public Employees Retirement System lifted its stake in shares of United Community Banks by 6.0% in the 2nd quarter. California Public Employees Retirement System now owns 107,800 shares of the financial services provider’s stock valued at $2,997,000 after purchasing an additional 6,100 shares during the last quarter. 86.71% of the stock is owned by institutional investors and hedge funds.

UCBI has been the subject of several analyst reports. FIG Partners raised United Community Banks from a “market perform” rating to an “outperform” rating and set a $32.00 price objective for the company in a research note on Wednesday, August 16th. Raymond James Financial, Inc. lowered their price objective on United Community Banks from $32.00 to $31.00 and set a “strong-buy” rating for the company in a research note on Thursday, July 27th. Stephens reaffirmed a “hold” rating and issued a $29.00 price objective on shares of United Community Banks in a research note on Wednesday, July 26th. Zacks Investment Research raised United Community Banks from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Wednesday, September 27th. Finally, BidaskClub lowered United Community Banks from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $30.71.

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Shares of United Community Banks, Inc. (NASDAQ UCBI) opened at 28.55 on Friday. The company’s 50 day moving average price is $26.55 and its 200-day moving average price is $27.08. United Community Banks, Inc. has a 52 week low of $20.26 and a 52 week high of $30.47. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 19.55 and a beta of 0.87.

United Community Banks (NASDAQ:UCBI) last released its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. United Community Banks had a return on equity of 10.42% and a net margin of 23.07%. The firm had revenue of $108.00 million for the quarter, compared to analysts’ expectations of $110.49 million. During the same period in the prior year, the firm posted $0.36 earnings per share. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. Analysts anticipate that United Community Banks, Inc. will post $1.63 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 5th. Investors of record on Friday, September 15th were issued a $0.10 dividend. The ex-dividend date was Thursday, September 14th. This is a boost from United Community Banks’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 1.40%. United Community Banks’s dividend payout ratio is currently 27.40%.

In related news, EVP Robert A. Edwards sold 11,550 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $26.06, for a total value of $300,993.00. Following the transaction, the executive vice president now directly owns 16,858 shares in the company, valued at $439,319.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.18% of the company’s stock.

United Community Banks Company Profile

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

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