Ameriprise Financial Inc. increased its stake in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 0.9% during the second quarter, Holdings Channel reports. The fund owned 498,641 shares of the financial services provider’s stock after buying an additional 4,471 shares during the period. Ameriprise Financial Inc. owned approximately 0.70% of United Community Banks worth $9,120,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in UCBI. Fuller & Thaler Asset Management Inc. boosted its position in United Community Banks by 950.0% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 6,300 shares of the financial services provider’s stock valued at $115,000 after buying an additional 5,700 shares during the last quarter. Legal & General Group Plc boosted its position in United Community Banks by 14.3% in the first quarter. Legal & General Group Plc now owns 8,500 shares of the financial services provider’s stock valued at $157,000 after buying an additional 1,063 shares during the last quarter. HBK Investments L P bought a new position in United Community Banks during the first quarter valued at approximately $251,000. Quantbot Technologies LP boosted its position in United Community Banks by 39.5% in the second quarter. Quantbot Technologies LP now owns 15,539 shares of the financial services provider’s stock valued at $284,000 after buying an additional 4,403 shares during the last quarter. Finally, Airain ltd bought a new position in United Community Banks during the second quarter valued at approximately $285,000.
United Community Banks, Inc. (NASDAQ:UCBI) traded down 1.33% during trading on Monday, hitting $20.74. 147,233 shares of the stock traded hands. The stock has a market cap of $1.47 billion and a P/E ratio of 17.55. The firm’s 50-day moving average is $20.49 and its 200 day moving average is $19.47. United Community Banks, Inc. has a 52 week low of $15.74 and a 52 week high of $22.23.
United Community Banks (NASDAQ:UCBI) last posted its quarterly earnings results on Wednesday, July 27th. The financial services provider reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.01. During the same quarter last year, the company posted $0.32 EPS. Equities research analysts forecast that United Community Banks, Inc. will post $1.43 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Thursday, September 15th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 1.52%. This is an increase from United Community Banks’s previous quarterly dividend of $0.07.
Separately, Zacks Investment Research upgraded shares of United Community Banks from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Saturday, July 9th.
United Community Banks Company Profile
United Community Banks, Inc is a bank holding company. The Company’s principal business is conducted by its subsidiary, United Community Bank (the Bank). The Bank is a chartered commercial bank that serves markets throughout north Georgia, coastal Georgia, the Atlanta-Sandy Springs-Roswell, Georgia and Gainesville, Georgia metropolitan statistical areas, western North Carolina, upstate South Carolina and east Tennessee.
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