Cidel Asset Management Inc. increased its holdings in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 20.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 564,002 shares of the financial services provider’s stock after buying an additional 94,146 shares during the period. Cidel Asset Management Inc. owned 0.65% of United Community Banks worth $18,054,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of UCBI. Lumature Wealth Partners LLC bought a new stake in shares of United Community Banks during the first quarter worth approximately $29,000. FORA Capital LLC acquired a new position in United Community Banks during the first quarter valued at approximately $32,000. Captrust Financial Advisors grew its holdings in United Community Banks by 289.0% during the first quarter. Captrust Financial Advisors now owns 2,863 shares of the financial services provider’s stock valued at $98,000 after purchasing an additional 2,127 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new position in United Community Banks during the first quarter valued at approximately $165,000. Finally, Fort Washington Investment Advisors Inc. OH acquired a new position in United Community Banks during the first quarter valued at approximately $205,000. 89.36% of the stock is owned by institutional investors and hedge funds.
In other news, CEO H Lynn Harton sold 10,000 shares of the stock in a transaction dated Thursday, July 1st. The shares were sold at an average price of $32.16, for a total value of $321,600.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert H. Blalock purchased 3,000 shares of the stock in a transaction that occurred on Thursday, August 12th. The shares were acquired at an average cost of $31.16 per share, for a total transaction of $93,480.00. Following the completion of the transaction, the director now owns 28,028 shares of the company’s stock, valued at approximately $873,352.48. The disclosure for this purchase can be found here. Corporate insiders own 0.62% of the company’s stock.
UCBI traded up $0.32 during trading hours on Wednesday, hitting $28.62. 10,579 shares of the company’s stock were exchanged, compared to its average volume of 411,747. United Community Banks, Inc. has a 1-year low of $15.73 and a 1-year high of $36.67. The stock’s 50-day moving average is $29.84 and its two-hundred day moving average is $32.45. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of 10.18 and a beta of 1.26. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.13.
United Community Banks (NASDAQ:UCBI) last announced its earnings results on Monday, July 19th. The financial services provider reported $0.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.12. United Community Banks had a net margin of 33.15% and a return on equity of 13.28%. The business had revenue of $174.22 million during the quarter, compared to analysts’ expectations of $169.90 million. During the same quarter in the prior year, the company posted $0.32 earnings per share. The firm’s revenue was up 16.5% on a year-over-year basis. On average, equities research analysts anticipate that United Community Banks, Inc. will post 2.85 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 5th. Investors of record on Wednesday, September 15th will be issued a dividend of $0.20 per share. This is a boost from United Community Banks’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, September 14th. This represents a $0.80 annualized dividend and a yield of 2.80%. United Community Banks’s dividend payout ratio is presently 38.38%.
About United Community Banks
United Community Banks, Inc is a bank holding company, which engages in the provision of consumer and business banking services. The firm caters on individuals and small and medium-sized businesses. It offers checking, savings, mortgages, borrowing, digital baking, credit cards, and investing services.
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