State of New Jersey Common Pension Fund D Purchases 10,801 Shares of United Community Banks, Inc. (NASDAQ:UCBI)

State of New Jersey Common Pension Fund D boosted its position in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 11.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 102,857 shares of the financial services provider’s stock after acquiring an additional 10,801 shares during the period. State of New Jersey Common Pension Fund D’s holdings in United Community Banks were worth $3,010,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in UCBI. Carmel Capital Partners LLC bought a new position in United Community Banks during the third quarter valued at about $36,000. GAMMA Investing LLC bought a new position in United Community Banks during the fourth quarter valued at about $72,000. SG Americas Securities LLC bought a new position in United Community Banks during the fourth quarter valued at about $115,000. Strs Ohio increased its stake in United Community Banks by 17.6% during the fourth quarter. Strs Ohio now owns 6,000 shares of the financial services provider’s stock valued at $175,000 after acquiring an additional 900 shares during the period. Finally, Xponance Inc. bought a new position in United Community Banks during the fourth quarter valued at about $205,000. 82.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

UCBI has been the topic of several research reports. DA Davidson restated a “buy” rating on shares of United Community Banks in a research note on Monday, January 15th. Piper Sandler lowered their price objective on United Community Banks from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday. TheStreet lowered United Community Banks from a “b” rating to a “c+” rating in a research note on Wednesday, January 24th. StockNews.com upgraded United Community Banks to a “sell” rating in a research note on Wednesday, January 17th. Finally, Truist Financial lowered their price objective on United Community Banks from $31.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $30.60.

United Community Banks Trading Up 0.6 %

UCBI stock opened at $25.98 on Friday. United Community Banks, Inc. has a 1-year low of $20.37 and a 1-year high of $30.75. The firm has a market cap of $3.09 billion, a P/E ratio of 16.87 and a beta of 0.94. The business’s 50 day moving average is $25.57 and its 200-day moving average is $26.22. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.10.

United Community Banks (NASDAQ:UCBI) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.50 by $0.02. The business had revenue of $225.80 million for the quarter, compared to the consensus estimate of $232.00 million. United Community Banks had a return on equity of 8.02% and a net margin of 13.62%. United Community Banks’s revenue was down 6.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.58 EPS. Equities analysts anticipate that United Community Banks, Inc. will post 2.09 earnings per share for the current fiscal year.

United Community Banks Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.54%. The ex-dividend date was Thursday, March 14th. United Community Banks’s payout ratio is currently 59.74%.

United Community Banks Profile

United Community Banks, Inc operates as the financial holding company for United Community Bank that provides financial products and services to commercial, retail, government, education, energy, health care, and real estate sectors. It accepts various deposit products, including checking, savings, money market, and other deposit accounts.