AQR Capital Management LLC increased its position in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 42.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 179,663 shares of the financial services provider’s stock after buying an additional 53,296 shares during the period. AQR Capital Management LLC’s holdings in United Community Banks were worth $4,975,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Glen Harbor Capital Management LLC bought a new position in shares of United Community Banks during the first quarter worth approximately $122,000. State of Alaska Department of Revenue raised its position in shares of United Community Banks by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 7,830 shares of the financial services provider’s stock worth $216,000 after buying an additional 160 shares in the last quarter. Cypress Capital Management LLC WY bought a new position in shares of United Community Banks during the first quarter worth approximately $122,000. Louisiana State Employees Retirement System raised its position in shares of United Community Banks by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 28,900 shares of the financial services provider’s stock worth $800,000 after buying an additional 400 shares in the last quarter. Finally, TNB Financial bought a new position in shares of United Community Banks during the first quarter worth approximately $865,000. 92.28% of the stock is currently owned by institutional investors and hedge funds.

United Community Banks, Inc. (UCBI) opened at 28.11 on Tuesday. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 19.81 and a beta of 0.88. United Community Banks, Inc. has a one year low of $18.78 and a one year high of $30.47. The stock’s 50 day moving average price is $26.94 and its 200-day moving average price is $27.90.

United Community Banks (NASDAQ:UCBI) last released its earnings results on Wednesday, April 26th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. United Community Banks had a return on equity of 10.28% and a net margin of 23.03%. The business had revenue of $104.83 million for the quarter, compared to analyst estimates of $104.30 million. During the same quarter in the prior year, the company posted $0.33 earnings per share. United Community Banks’s revenue was up 11.8% on a year-over-year basis. Analysts forecast that United Community Banks, Inc. will post $1.62 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Thursday, June 15th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.28%. The ex-dividend date was Tuesday, June 13th. This is a positive change from United Community Banks’s previous quarterly dividend of $0.08. United Community Banks’s dividend payout ratio is presently 25.35%.

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A number of brokerages have recently commented on UCBI. Zacks Investment Research lowered United Community Banks from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. BidaskClub lowered United Community Banks from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Hovde Group raised United Community Banks from a “market perform” rating to an “outperform” rating and set a $31.00 price objective on the stock in a report on Wednesday, May 3rd. UBS AG raised United Community Banks from a “market perform” rating to an “outperform” rating in a report on Wednesday, May 3rd. Finally, Stephens reissued a “hold” rating and set a $30.00 price objective on shares of United Community Banks in a report on Tuesday, June 27th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. United Community Banks has a consensus rating of “Buy” and an average target price of $31.00.

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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