Comerica Bank Has $2.39 Million Holdings in United Community Banks, Inc. (NASDAQ:UCBI)

Comerica Bank cut its holdings in United Community Banks, Inc. (NASDAQ:UCBI) by 7.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 81,349 shares of the financial services provider’s stock after selling 6,092 shares during the quarter. Comerica Bank owned approximately 0.09% of United Community Banks worth $2,387,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Campbell & CO Investment Adviser LLC boosted its stake in shares of United Community Banks by 5.3% during the second quarter. Campbell & CO Investment Adviser LLC now owns 9,955 shares of the financial services provider’s stock valued at $319,000 after purchasing an additional 500 shares in the last quarter. Virginia Retirement Systems ET AL boosted its stake in shares of United Community Banks by 7.8% during the second quarter. Virginia Retirement Systems ET AL now owns 6,900 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 500 shares in the last quarter. Zacks Investment Management boosted its stake in shares of United Community Banks by 1.0% during the second quarter. Zacks Investment Management now owns 57,282 shares of the financial services provider’s stock valued at $1,834,000 after purchasing an additional 545 shares in the last quarter. CWM Advisors LLC boosted its stake in shares of United Community Banks by 3.1% during the second quarter. CWM Advisors LLC now owns 22,440 shares of the financial services provider’s stock valued at $718,000 after purchasing an additional 680 shares in the last quarter. Finally, Mutual of America Capital Management LLC boosted its stake in shares of United Community Banks by 6.5% during the second quarter. Mutual of America Capital Management LLC now owns 12,338 shares of the financial services provider’s stock valued at $395,000 after purchasing an additional 755 shares in the last quarter. 89.11% of the stock is currently owned by hedge funds and other institutional investors.

UCBI has been the topic of a number of recent research reports. Raymond James lifted their price target on United Community Banks from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, October 21st. Zacks Investment Research upgraded United Community Banks from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Saturday, October 23rd.

Shares of UCBI opened at $36.76 on Thursday. United Community Banks, Inc. has a 1 year low of $23.84 and a 1 year high of $37.24. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $3.28 billion, a P/E ratio of 11.94 and a beta of 1.18. The business’s 50-day moving average is $33.12.

United Community Banks (NASDAQ:UCBI) last issued its quarterly earnings data on Monday, October 18th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.17. United Community Banks had a return on equity of 14.28% and a net margin of 36.75%. The company had revenue of $181.13 million during the quarter, compared to the consensus estimate of $172.40 million. During the same period last year, the company earned $0.55 earnings per share. On average, research analysts predict that United Community Banks, Inc. will post 3.01 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 5th. Shareholders of record on Wednesday, December 15th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, December 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.18%. United Community Banks’s payout ratio is currently 25.97%.

In other United Community Banks news, CEO H Lynn Harton sold 10,000 shares of United Community Banks stock in a transaction that occurred on Friday, October 1st. The stock was sold at an average price of $32.95, for a total value of $329,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.62% of the company’s stock.

United Community Banks Company Profile

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

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