Everence Capital Management Inc. Invests $411,000 in United Community Banks, Inc. (NASDAQ:UCBI)


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Everence Capital Management Inc. bought a new position in shares of United Community Banks, Inc. (NASDAQ:UCBI) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 12,060 shares of the financial services provider’s stock, valued at approximately $411,000.

Several other hedge funds have also made changes to their positions in UCBI. Fieldpoint Private Securities LLC acquired a new position in United Community Banks in the 4th quarter valued at $25,000. Toronto Dominion Bank acquired a new position in United Community Banks in the 4th quarter valued at $59,000. Veriti Management LLC acquired a new position in United Community Banks in the 4th quarter valued at $108,000. Amundi Pioneer Asset Management Inc. purchased a new stake in United Community Banks in the 1st quarter valued at $165,000. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of United Community Banks during the 4th quarter worth $209,000. 82.27% of the stock is owned by institutional investors and hedge funds.

Shares of United Community Banks stock opened at $34.35 on Tuesday. The business has a 50-day moving average of $34.53 and a 200 day moving average of $28.11. United Community Banks, Inc. has a 12 month low of $14.95 and a 12 month high of $36.67. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 18.57 and a beta of 1.32. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.86.

United Community Banks (NASDAQ:UCBI) last announced its earnings results on Monday, January 18th. The financial services provider reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.08. United Community Banks had a return on equity of 9.20% and a net margin of 22.36%. The company had revenue of $186.77 million during the quarter, compared to analysts’ expectations of $148.29 million. During the same period last year, the business posted $0.61 EPS. Equities research analysts anticipate that United Community Banks, Inc. will post 1.86 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, April 5th. Investors of record on Monday, March 15th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.21%. This is a boost from United Community Banks’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, March 12th. United Community Banks’s dividend payout ratio (DPR) is 31.93%.

Separately, Zacks Investment Research upgraded United Community Banks from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a report on Tuesday, January 5th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. United Community Banks has an average rating of “Buy” and an average target price of $24.30.

In other United Community Banks news, CEO H Lynn Harton sold 10,000 shares of the stock in a transaction dated Thursday, April 1st. The stock was sold at an average price of $33.91, for a total value of $339,100.00. Following the sale, the chief executive officer now owns 242,518 shares of the company’s stock, valued at approximately $8,223,785.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Alan H. Kumler sold 1,638 shares of the stock in a transaction dated Thursday, February 4th. The shares were sold at an average price of $32.00, for a total value of $52,416.00. Following the completion of the sale, the chief accounting officer now directly owns 22,924 shares in the company, valued at approximately $733,568. The disclosure for this sale can be found here. Company insiders own 1.17% of the company’s stock.

United Community Banks Profile

United Community Banks, Inc operates as the bank holding company for United Community Bank that provides various banking products and services. The company accepts checking, savings, money market, negotiable order of withdrawal, time, and other deposit accounts, as well as certificates of deposit. Its loan products include commercial real estate, commercial and industrial, commercial construction, residential mortgage and construction, consumer direct loans, and indirect auto loans, as well as home equity lines of credits.

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

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