American International Group Inc. Reduces Holdings in United Community Banks, Inc. (NASDAQ:UCBI)

American International Group Inc. decreased its position in United Community Banks, Inc. (NASDAQ:UCBI) by 0.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 63,093 shares of the financial services provider’s stock after selling 529 shares during the period. American International Group Inc.’s holdings in United Community Banks were worth $1,846,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in UCBI. GAMMA Investing LLC purchased a new stake in shares of United Community Banks in the 4th quarter valued at approximately $72,000. SG Americas Securities LLC purchased a new stake in shares of United Community Banks in the 4th quarter valued at approximately $115,000. FinTrust Capital Advisors LLC boosted its position in shares of United Community Banks by 12.5% during the 4th quarter. FinTrust Capital Advisors LLC now owns 4,493 shares of the financial services provider’s stock worth $131,000 after purchasing an additional 500 shares during the period. TFO Wealth Partners LLC boosted its position in shares of United Community Banks by 111,360.0% during the 4th quarter. TFO Wealth Partners LLC now owns 5,573 shares of the financial services provider’s stock worth $163,000 after purchasing an additional 5,568 shares during the period. Finally, Strs Ohio boosted its position in shares of United Community Banks by 17.6% during the 4th quarter. Strs Ohio now owns 6,000 shares of the financial services provider’s stock worth $175,000 after purchasing an additional 900 shares during the period. Hedge funds and other institutional investors own 82.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on UCBI shares. Truist Financial lowered their price objective 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. Piper Sandler lowered their price objective 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, April 25th. 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 target price of $30.60.

United Community Banks Price Performance

United Community Banks stock opened at $24.76 on Wednesday. The firm has a market cap of $2.95 billion, a PE ratio of 16.08 and a beta of 0.92. United Community Banks, Inc. has a 52-week low of $21.63 and a 52-week high of $30.75. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10. The company’s 50 day moving average is $25.62 and its two-hundred day moving average is $26.64.

United Community Banks (NASDAQ:UCBI) last released its earnings results on Wednesday, April 24th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. The company had revenue of $225.80 million for the quarter, compared to analyst estimates 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 in the prior year, the business earned $0.58 EPS. On average, research analysts expect that United Community Banks, Inc. will post 2.12 EPS for the current fiscal year.

United Community Banks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Saturday, June 15th will be issued a dividend of $0.23 per share. The ex-dividend date is Friday, June 14th. This represents a $0.92 dividend on an annualized basis and a yield of 3.72%. United Community Banks’s dividend payout ratio (DPR) is presently 59.74%.

About United Community Banks

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.