United Community Banks, Inc. (NASDAQ:UCBI) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its holdings in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 25.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,494 shares of the financial services provider’s stock after selling 3,874 shares during the period. Allspring Global Investments Holdings LLC’s holdings in United Community Banks were worth $336,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Carmel Capital Partners LLC acquired a new stake in United Community Banks during the third quarter valued at approximately $36,000. SG Americas Securities LLC purchased a new stake in shares of United Community Banks in the 4th quarter valued at approximately $115,000. Equitable Trust Co. purchased a new stake in shares of United Community Banks in the 4th quarter valued at approximately $212,000. AlphaMark Advisors LLC purchased a new stake in shares of United Community Banks in the 3rd quarter valued at approximately $233,000. Finally, Sequoia Financial Advisors LLC lifted its position in shares of United Community Banks by 12.8% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 9,943 shares of the financial services provider’s stock valued at $253,000 after acquiring an additional 1,128 shares in the last quarter. 82.29% of the stock is owned by institutional investors and hedge funds.

United Community Banks Price Performance

NASDAQ:UCBI opened at $25.98 on Friday. United Community Banks, Inc. has a 52 week low of $20.37 and a 52 week high of $30.75. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of 16.87 and a beta of 0.94. The company has a 50-day moving average of $25.57 and a 200-day moving average of $26.22. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.81 and a current ratio of 0.81.

United Community Banks (NASDAQ:UCBI) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.02. The firm had revenue of $225.80 million during the quarter, compared to the consensus estimate of $232.00 million. United Community Banks had a net margin of 13.62% and a return on equity of 8.02%. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period last year, the firm posted $0.58 EPS. As a group, equities research analysts anticipate that United Community Banks, Inc. will post 2.15 earnings per share for the current fiscal year.

United Community Banks Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Piper Sandler reduced their price target on shares of United Community Banks from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday. StockNews.com upgraded shares of United Community Banks to a “sell” rating in a research report on Wednesday, January 17th. Truist Financial cut their target price on shares of United Community Banks from $31.00 to $28.00 and set a “hold” rating for the company in a research report on Monday, April 1st. TheStreet downgraded shares of United Community Banks from a “b” rating to a “c+” rating in a research report on Wednesday, January 24th. Finally, DA Davidson reiterated a “buy” rating on shares of United Community Banks in a research report on Monday, January 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $30.60.

United Community Banks Company 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.