Texas Permanent School Fund boosted its position in United Community Banks, Inc. (NASDAQ:UCBI) by 0.8% during the second quarter, Holdings Channel reports. The firm owned 51,808 shares of the financial services provider’s stock after buying an additional 432 shares during the period. Texas Permanent School Fund’s holdings in United Community Banks were worth $1,440,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. BNP Paribas Arbitrage SA raised its stake in shares of United Community Banks by 11.7% in the first quarter. BNP Paribas Arbitrage SA now owns 14,466 shares of the financial services provider’s stock worth $401,000 after buying an additional 1,511 shares during the period. Suntrust Banks Inc. raised its stake in shares of United Community Banks by 84.8% in the first quarter. Suntrust Banks Inc. now owns 13,014 shares of the financial services provider’s stock worth $360,000 after buying an additional 5,972 shares during the period. Bank of New York Mellon Corp raised its stake in shares of United Community Banks by 17.9% in the first quarter. Bank of New York Mellon Corp now owns 2,186,633 shares of the financial services provider’s stock worth $60,547,000 after buying an additional 332,315 shares during the period. US Bancorp DE raised its stake in shares of United Community Banks by 30.9% in the first quarter. US Bancorp DE now owns 40,577 shares of the financial services provider’s stock worth $1,124,000 after buying an additional 9,569 shares during the period. Finally, Great West Life Assurance Co. Can raised its stake in shares of United Community Banks by 6.6% in the first quarter. Great West Life Assurance Co. Can now owns 99,637 shares of the financial services provider’s stock worth $2,757,000 after buying an additional 6,181 shares during the period. 94.06% of the stock is currently owned by institutional investors and hedge funds.

Shares of United Community Banks, Inc. (UCBI) opened at 26.34 on Wednesday. The stock has a 50 day moving average of $27.75 and a 200 day moving average of $27.63. United Community Banks, Inc. has a 52-week low of $19.49 and a 52-week high of $30.47. The stock has a market capitalization of $1.87 billion, a PE ratio of 18.04 and a beta of 0.88.

United Community Banks (NASDAQ:UCBI) last posted its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.01. The firm had revenue of $108 million for the quarter, compared to analysts’ expectations of $110.49 million. United Community Banks had a net margin of 23.07% and a return on equity of 10.42%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.36 earnings per share. Analysts forecast that United Community Banks, Inc. will post $1.63 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 15th will be issued a $0.10 dividend. The ex-dividend date is 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 dividend yield of 1.52%. United Community Banks’s dividend payout ratio is presently 24.66%.

TRADEMARK VIOLATION NOTICE: This news story was originally published by Watch List News and is the property of of Watch List News. If you are reading this news story on another domain, it was stolen and republished in violation of US & international trademark and copyright laws. The correct version of this news story can be accessed at https://www.watchlistnews.com/united-community-banks-inc-ucbi-stake-boosted-by-texas-permanent-school-fund/1493280.html.

A number of equities research analysts have issued reports on the stock. Stephens reissued a “hold” rating and issued a $29.00 price target on shares of United Community Banks in a report on Wednesday, July 26th. Zacks Investment Research lowered shares of United Community Banks from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Raymond James Financial, Inc. cut their price target on shares of United Community Banks from $32.00 to $31.00 and set a “strong-buy” rating on the stock in a report on Thursday, July 27th. BidaskClub lowered shares of United Community Banks from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Finally, Hovde Group raised shares of United Community Banks from a “market perform” rating to an “outperform” rating and set a $31.00 price target on the stock in a report on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $30.67.

In other news, EVP Robert A. Edwards sold 11,550 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were 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 document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.18% of the company’s stock.

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.

Want to see what other hedge funds are holding UCBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Community Banks, Inc. (NASDAQ:UCBI).

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

Receive News & Ratings for United Community Banks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Community Banks Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.