MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income Acquires Shares of 265,450 United Community Banks, Inc. (NASDAQ:UCBI)

MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income acquired a new stake in United Community Banks, Inc. (NASDAQ:UCBI – Get Rating) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 265,450 shares of the financial services provider’s stock, valued at approximately $9,238,000. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income owned 0.25% of United Community Banks as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV acquired a new position in shares of United Community Banks during the 1st quarter worth $54,000. Lazard Asset Management LLC increased its stake in shares of United Community Banks by 54.0% during the 4th quarter. Lazard Asset Management LLC now owns 1,605 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 563 shares during the last quarter. Moisand Fitzgerald Tamayo LLC acquired a new position in shares of United Community Banks during the 4th quarter worth $146,000. Strs Ohio bought a new stake in shares of United Community Banks during the 4th quarter worth $172,000. Finally, Advisor Group Holdings Inc. boosted its holdings in shares of United Community Banks by 6.8% during the 1st quarter. Advisor Group Holdings Inc. now owns 5,498 shares of the financial services provider’s stock worth $173,000 after buying an additional 351 shares during the period. Institutional investors and hedge funds own 79.51% of the company’s stock.

Wall Street Analysts Forecast Growth

UCBI has been the subject of several recent analyst reports. Truist Financial decreased their price objective on shares of United Community Banks from $34.00 to $32.00 in a report on Wednesday, June 15th. Piper Sandler reduced their price target on shares of United Community Banks to $36.00 in a report on Friday, July 22nd. Finally, StockNews.com downgraded shares of United Community Banks from a “hold” rating to a “sell” rating in a report on Friday, July 29th.

United Community Banks Price Performance

Shares of UCBI stock traded up $0.24 during mid-day trading on Friday, reaching $34.23. The company’s stock had a trading volume of 288,201 shares, compared to its average volume of 463,159. United Community Banks, Inc. has a 1-year low of $27.62 and a 1-year high of $39.32. The company has a market cap of $3.63 billion, a P/E ratio of 14.20 and a beta of 1.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.74 and a current ratio of 0.74. The firm’s 50-day moving average is $31.21 and its two-hundred day moving average is $33.15.

United Community Banks (NASDAQ:UCBI – Get Rating) last announced its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.03). United Community Banks had a net margin of 30.10% and a return on equity of 11.27%. The business had revenue of $212.36 million during the quarter, compared to analyst estimates of $213.19 million. During the same quarter in the prior year, the company posted $0.79 EPS. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. On average, research analysts predict that United Community Banks, Inc. will post 2.65 earnings per share for the current year.

United Community Banks Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 5th. Investors of record on Wednesday, June 15th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend was Tuesday, June 14th. United Community Banks’s dividend payout ratio (DPR) is currently 34.85%.

United Community Banks Company Profile

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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. The company accepts various deposit products, including checking, savings, money market, and other deposit accounts.