Susquehanna International Group LLP Lowers Stock Position in United Community Banks, Inc. $UCB

Susquehanna International Group LLP trimmed its holdings in shares of United Community Banks, Inc. (NYSE:UCB) by 74.1% in the second quarter, HoldingsChannel.com reports. The fund owned 23,731 shares of the company’s stock after selling 67,890 shares during the period. Susquehanna International Group LLP’s holdings in United Community Banks were worth $833,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of United Community Banks during the 4th quarter valued at $29,000. Covestor Ltd raised its position in shares of United Community Banks by 196.1% in the fourth quarter. Covestor Ltd now owns 992 shares of the company’s stock valued at $31,000 after purchasing an additional 657 shares during the period. Kestra Advisory Services LLC purchased a new stake in shares of United Community Banks during the 4th quarter valued at approximately $42,000. Public Employees Retirement System of Ohio purchased a new stake in shares of United Community Banks during the 2nd quarter valued at approximately $54,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in United Community Banks by 130.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,951 shares of the company’s stock worth $58,000 after buying an additional 1,106 shares during the period. 82.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Jefferson L. Harralson sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $35.41, for a total value of $885,250.00. Following the transaction, the executive vice president owned 37,433 shares of the company’s stock, valued at approximately $1,325,502.53. This trade represents a 40.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Richard Bradshaw sold 1,424 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $35.09, for a total transaction of $49,968.16. Following the sale, the executive vice president directly owned 83,228 shares of the company’s stock, valued at approximately $2,920,470.52. This represents a 1.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.45% of the company’s stock.

United Community Banks Trading Down 1.0%

NYSE UCB opened at $34.84 on Tuesday. The firm has a market capitalization of $4.20 billion, a PE ratio of 11.46 and a beta of 0.82. The stock’s 50 day moving average is $35.58 and its 200 day moving average is $33.77. United Community Banks, Inc. has a twelve month low of $28.65 and a twelve month high of $37.18. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.22.

United Community Banks (NYSE:UCB) last posted its quarterly earnings results on Tuesday, July 21st. The company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.09). The company had revenue of $279.28 million during the quarter. United Community Banks had a return on equity of 9.61% and a net margin of 24.43%. Research analysts forecast that United Community Banks, Inc. will post 2.93 earnings per share for the current fiscal year.

United Community Banks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Tuesday, September 15th will be given a $0.26 dividend. This is a boost from United Community Banks’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.04 dividend on an annualized basis and a yield of 3.0%. United Community Banks’s payout ratio is presently 32.89%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $37.00 price objective on shares of United Community Banks in a research note on Wednesday, July 22nd. Weiss Ratings upgraded United Community Banks from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, June 30th. TD Cowen raised United Community Banks to a “strong-buy” rating in a report on Thursday, July 16th. Wall Street Zen downgraded United Community Banks from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Finally, DA Davidson reissued a “buy” rating and set a $40.00 price objective on shares of United Community Banks in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $38.80.

United Community Banks Company Profile

United Community Banks, Inc (NYSE: UCB) is a bank holding company headquartered in Blairsville, Georgia. It operates primarily through its subsidiary, United Community Bank, providing a broad range of banking and financial services to individual, business and governmental customers. The company’s core offerings include deposit accounts, commercial and consumer lending, mortgage origination, treasury and cash management services, and wealth management.

In addition to traditional banking products such as checking, savings and money market accounts, United Community Bank specializes in commercial real estate financing, small business administration (SBA) loans, equipment financing and agricultural lending.