Louisiana State Employees Retirement System grew its position in shares of United Community Banks, Inc. (NASDAQ:UCBI – Free Report) by 1.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 59,900 shares of the financial services provider’s stock after purchasing an additional 1,000 shares during the quarter. Louisiana State Employees Retirement System owned approximately 0.05% of United Community Banks worth $1,525,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in UCBI. Norges Bank purchased a new stake in shares of United Community Banks in the fourth quarter valued at about $37,723,000. Hsbc Holdings PLC acquired a new position in United Community Banks during the fourth quarter worth about $20,850,000. Dimensional Fund Advisors LP increased its holdings in United Community Banks by 13.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,553,813 shares of the financial services provider’s stock valued at $133,249,000 after buying an additional 556,939 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of United Community Banks by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 13,552,982 shares of the financial services provider’s stock valued at $396,560,000 after acquiring an additional 274,275 shares during the period. Finally, Rafferty Asset Management LLC lifted its position in shares of United Community Banks by 85.2% during the 4th quarter. Rafferty Asset Management LLC now owns 157,743 shares of the financial services provider’s stock valued at $4,616,000 after acquiring an additional 72,582 shares during the period. Hedge funds and other institutional investors own 82.29% of the company’s stock.
United Community Banks Stock Down 3.2 %
Shares of NASDAQ:UCBI opened at $27.83 on Monday. The company has a quick ratio of 0.79, a current ratio of 0.80 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $3.32 billion, a P/E ratio of 18.07 and a beta of 0.90. United Community Banks, Inc. has a 52-week low of $21.63 and a 52-week high of $31.96. The stock’s fifty day simple moving average is $27.39 and its 200-day simple moving average is $26.34.
Analyst Ratings Changes
Several equities analysts recently weighed in on UCBI shares. Truist Financial raised their price objective on United Community Banks from $26.00 to $31.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. StockNews.com assumed coverage on United Community Banks in a research note on Friday. They set a “hold” rating for the company. Keefe, Bruyette & Woods increased their price objective on shares of United Community Banks from $28.00 to $32.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Finally, DA Davidson upped their price target on shares of United Community Banks from $32.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, United Community Banks currently has a consensus rating of “Hold” and a consensus target price of $31.50.
Read Our Latest Report on UCBI
United Community Banks 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.
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