United Community Banks, Inc. (UCBI) Short Interest Update
United Community Banks, Inc. (NASDAQ:UCBI) saw a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 929,666 shares, a decrease of 27.4% from the November 15th total of 1,281,321 shares. Based on an average trading volume of 481,773 shares, the days-to-cover ratio is presently 1.9 days. Currently, 1.4% of the company’s shares are short sold.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Alps Advisors Inc. raised its position in United Community Banks by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 16,667 shares of the financial services provider’s stock valued at $463,000 after purchasing an additional 43 shares during the last quarter. Amalgamated Bank raised its position in United Community Banks by 1.5% during the 2nd quarter. Amalgamated Bank now owns 9,645 shares of the financial services provider’s stock valued at $268,000 after purchasing an additional 140 shares during the last quarter. M&T Bank Corp raised its position in United Community Banks by 6.0% during 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. The Manufacturers Life Insurance Company raised its position in United Community Banks by 1.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 54,719 shares of the financial services provider’s stock valued at $1,522,000 after purchasing an additional 737 shares during the last quarter. Finally, Pinebridge Investments L.P. raised its position in United Community Banks by 2.4% during the 2nd quarter. Pinebridge Investments L.P. now owns 47,976 shares of the financial services provider’s stock valued at $1,334,000 after purchasing an additional 1,129 shares during the last quarter. 87.69% of the stock is owned by institutional investors and hedge funds.
Shares of United Community Banks (NASDAQ UCBI) opened at $28.36 on Friday. The firm has a market capitalization of $2,042.86, a PE ratio of 17.29 and a beta of 0.88. United Community Banks has a fifty-two week low of $24.47 and a fifty-two week 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 released its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.41 EPS for the quarter, meeting analysts’ consensus estimates of $0.41. The business had revenue of $109.35 million during the quarter, compared to analyst estimates of $114.65 million. United Community Banks had a return on equity of 10.31% and a net margin of 23.09%. United Community Banks’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.36 EPS. equities analysts predict that United Community Banks will post 1.63 earnings per share for the current fiscal 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 given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Thursday, December 14th. United Community Banks’s payout ratio is 27.03%.
Several brokerages recently weighed in on UCBI. SunTrust Banks restated a “buy” rating and set a $33.00 target price on shares of United Community Banks in a report on Thursday, October 12th. Zacks Investment Research upgraded United Community Banks from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a report on Friday, October 27th. BidaskClub cut United Community Banks from a “buy” rating to a “hold” rating in a report on Saturday, December 9th. Finally, ValuEngine cut United Community Banks from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. United Community Banks has a consensus rating of “Buy” and a consensus price target of $31.14.
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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