9,912 Shares in United Community Banks, Inc. (NASDAQ:UCBI) Acquired by DGS Capital Management LLC

DGS Capital Management LLC purchased a new position in shares of United Community Banks, Inc. (NASDAQ:UCBI) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 9,912 shares of the financial services provider’s stock, valued at approximately $290,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Eagle Bay Advisors LLC grew its holdings in United Community Banks by 97.5% in the 2nd quarter. Eagle Bay Advisors LLC now owns 960 shares of the financial services provider’s stock valued at $29,000 after buying an additional 474 shares during the period. Carmel Capital Partners LLC purchased a new stake in shares of United Community Banks during the 3rd quarter worth about $36,000. Belpointe Asset Management LLC grew its holdings in shares of United Community Banks by 113.1% during the 1st quarter. Belpointe Asset Management LLC now owns 1,385 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 735 shares during the period. State of Wyoming grew its holdings in shares of United Community Banks by 25.9% during the 2nd quarter. State of Wyoming now owns 1,898 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 390 shares during the period. Finally, Money Concepts Capital Corp purchased a new stake in shares of United Community Banks during the 4th quarter worth about $105,000. Institutional investors and hedge funds own 82.29% of the company’s stock.

United Community Banks Stock Performance

Shares of UCBI opened at $24.54 on Wednesday. The business’s 50 day moving average is $25.85 and its two-hundred day moving average is $26.22. United Community Banks, Inc. has a 52-week low of $20.37 and a 52-week high of $30.75. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 15.83 and a beta of 0.94. 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 (NASDAQ:UCBI) last announced its earnings results on Wednesday, January 24th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. United Community Banks had a return on equity of 8.32% and a net margin of 14.29%. The company had revenue of $165.70 million for the quarter, compared to analyst estimates of $226.07 million. During the same period in the prior year, the company posted $0.75 EPS. United Community Banks’s quarterly revenue was down 25.8% on a year-over-year basis. Analysts forecast that United Community Banks, Inc. will post 2.19 EPS for the current fiscal year.

United Community Banks Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend was Thursday, March 14th. United Community Banks’s dividend payout ratio is currently 59.36%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on UCBI shares. StockNews.com upgraded United Community Banks to a “sell” rating in a report on Wednesday, January 17th. Truist Financial reduced their price target on United Community Banks from $31.00 to $28.00 and set a “hold” rating on the stock in a research report on Monday, April 1st. Piper Sandler boosted their price target on United Community Banks from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. DA Davidson reissued a “buy” rating on shares of United Community Banks in a research report on Monday, January 15th. Finally, TheStreet lowered United Community Banks from a “b” rating to a “c+” rating in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, United Community Banks currently has an average rating of “Hold” and an average price target of $31.00.

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.