United Community Banks, Inc. (UCBI) Stake Boosted by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA increased its holdings in United Community Banks, Inc. (NASDAQ:UCBI) by 263.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,272 shares of the financial services provider’s stock after acquiring an additional 58,174 shares during the period. BNP Paribas Arbitrage SA owned about 0.11% of United Community Banks worth $2,291,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in UCBI. Riverhead Capital Management LLC grew its holdings in shares of United Community Banks by 134.3% in the second quarter. Riverhead Capital Management LLC now owns 5,390 shares of the financial services provider’s stock valued at $150,000 after acquiring an additional 3,090 shares in the last quarter. Palouse Capital Management Inc. bought a new position in United Community Banks during the third quarter valued at $207,000. Amalgamated Bank grew its holdings in United Community Banks by 1.5% during the second 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 period. Citadel Advisors LLC bought a new position in United Community Banks during the second quarter valued at $311,000. Finally, HighTower Advisors LLC bought a new position in United Community Banks during the second quarter valued at $328,000. 84.07% of the stock is owned by institutional investors.
Several equities analysts have weighed in on UCBI shares. Zacks Investment Research lowered United Community Banks from a “buy” rating to a “hold” rating in a report on Saturday, October 28th. 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 report on Wednesday, August 16th. ValuEngine lowered United Community Banks from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Stephens reissued a “hold” rating and set a $29.00 price objective on shares of United Community Banks in a report on Wednesday, July 26th. Finally, BidaskClub lowered United Community Banks from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, five have assigned 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 target price of $31.25.
United Community Banks, Inc. (NASDAQ:UCBI) opened at $27.54 on Thursday. United Community Banks, Inc. has a twelve month low of $24.47 and a twelve month high of $30.47. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.81 and a quick ratio of 0.80. The company has a market capitalization of $2,023.04, a price-to-earnings ratio of 17.12 and a beta of 0.88.
United Community Banks (NASDAQ:UCBI) last posted its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.41 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.41. United Community Banks had a return on equity of 10.31% and a net margin of 23.09%. The firm had revenue of $109.35 million during the quarter, compared to analyst estimates of $114.65 million. During the same period last year, the company earned $0.36 earnings per share. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. research analysts anticipate that United Community Banks, Inc. will post 1.63 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 15th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Thursday, December 14th. United Community Banks’s payout ratio is currently 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.
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