Bank of New York Mellon Corp Has $41.83 Million Stock Position in United Community Banks, Inc. (NASDAQ:UCBI)

Bank of New York Mellon Corp lessened its holdings in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 4.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,643,114 shares of the financial services provider’s stock after selling 81,480 shares during the period. Bank of New York Mellon Corp owned 1.38% of United Community Banks worth $41,834,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of United Community Banks by 2.1% in 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 buying an additional 274,275 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of 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 worth $133,249,000 after acquiring an additional 556,939 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in United Community Banks by 0.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,777,906 shares of the financial services provider’s stock valued at $52,022,000 after acquiring an additional 5,848 shares during the last quarter. Goldman Sachs Group Inc. increased its position in United Community Banks by 4.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,549,690 shares of the financial services provider’s stock valued at $45,344,000 after purchasing an additional 67,399 shares during the period. Finally, Norges Bank bought a new position in United Community Banks during the 4th quarter worth approximately $37,723,000. 82.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on UCBI. Truist Financial upped their price objective on shares of 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 initiated coverage on shares of United Community Banks in a research report on Saturday. They set a “hold” rating on the stock. DA Davidson lifted their price objective on United Community Banks from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods boosted their price objective on 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. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $31.50.

United Community Banks Stock Down 3.2 %

Shares of NASDAQ UCBI opened at $27.83 on Monday. United Community Banks, Inc. has a 12-month low of $21.63 and a 12-month high of $31.96. 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 firm has a market cap of $3.32 billion, a PE ratio of 18.07 and a beta of 0.90. The company’s fifty day simple moving average is $27.70 and its 200 day simple moving average is $26.37.

United Community Banks (NASDAQ:UCBI) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.07. United Community Banks had a net margin of 13.36% and a return on equity of 8.04%. The company had revenue of $347.00 million for the quarter, compared to analysts’ expectations of $238.95 million. During the same quarter in the prior year, the firm earned $0.55 EPS. The business’s revenue was up 17.3% on a year-over-year basis. As a group, sell-side analysts forecast that United Community Banks, Inc. will post 2.24 earnings per share for the current fiscal year.

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.