United Community Banks, Inc. (NASDAQ:UCBI) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. cut its holdings in United Community Banks, Inc. (NASDAQ:UCBI) by 9.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,386 shares of the financial services provider’s stock after selling 5,322 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in United Community Banks were worth $1,379,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC purchased a new stake in United Community Banks in the 4th quarter worth approximately $72,000. SG Americas Securities LLC purchased a new stake in shares of United Community Banks during the 4th quarter valued at $115,000. FinTrust Capital Advisors LLC grew its stake 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 valued at $131,000 after buying an additional 500 shares during the period. TFO Wealth Partners LLC lifted its holdings 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 valued at $163,000 after acquiring an additional 5,568 shares in the last quarter. Finally, Strs Ohio lifted its holdings 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 valued at $175,000 after acquiring an additional 900 shares in the last quarter. Institutional investors and hedge funds own 82.29% of the company’s stock.

United Community Banks Price Performance

Shares of NASDAQ:UCBI opened at $27.00 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10. United Community Banks, Inc. has a fifty-two week low of $21.63 and a fifty-two week high of $30.75. The firm has a 50-day simple moving average of $25.55 and a 200 day simple moving average of $26.27. The company has a market cap of $3.22 billion, a PE ratio of 17.53 and a beta of 0.91.

United Community Banks (NASDAQ:UCBI) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. United Community Banks had a net margin of 13.62% and a return on equity of 8.02%. The business had revenue of $225.80 million during the quarter, compared to the consensus estimate of $232.00 million. During the same quarter in the prior year, the firm earned $0.58 EPS. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. On average, sell-side analysts anticipate that United Community Banks, Inc. will post 2.12 EPS for the current year.

United Community Banks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Saturday, June 15th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date was Friday, June 14th. United Community Banks’s dividend payout ratio is presently 59.74%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on UCBI. Piper Sandler reduced their target price on shares of United Community Banks from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Truist Financial reduced their target price on shares of United Community Banks from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Monday, July 8th. One 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 data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $30.20.

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.