Illinois Municipal Retirement Fund Has $1.91 Million Stock Holdings in United Community Banks, Inc. (NASDAQ:UCBI)

Illinois Municipal Retirement Fund cut its stake in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 5.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 65,100 shares of the financial services provider’s stock after selling 3,592 shares during the period. Illinois Municipal Retirement Fund owned 0.05% of United Community Banks worth $1,905,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of UCBI. FMR LLC boosted its position in United Community Banks by 15.1% during the third quarter. FMR LLC now owns 8,518,870 shares of the financial services provider’s stock valued at $216,464,000 after purchasing an additional 1,117,539 shares during the last quarter. Northern Trust Corp lifted its position in shares of United Community Banks by 21.4% in the third quarter. Northern Trust Corp now owns 1,913,924 shares of the financial services provider’s stock valued at $48,633,000 after buying an additional 337,102 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of United Community Banks by 17.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,772,058 shares of the financial services provider’s stock valued at $45,028,000 after buying an additional 265,356 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of United Community Banks by 1.9% in the third quarter. Vanguard Group Inc. now owns 13,278,707 shares of the financial services provider’s stock valued at $337,412,000 after buying an additional 245,944 shares during the last quarter. Finally, Blair William & Co. IL acquired a new stake in shares of United Community Banks in the third quarter valued at approximately $5,501,000. 82.29% of the stock is owned by institutional investors and hedge funds.

United Community Banks Price Performance

United Community Banks stock opened at $25.82 on Friday. The stock’s fifty day moving average price is $25.59 and its two-hundred day moving average price is $26.22. United Community Banks, Inc. has a one year low of $20.37 and a one year high of $30.75. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $3.07 billion, a PE ratio of 16.77 and a beta of 0.94.

United Community Banks (NASDAQ:UCBI) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. United Community Banks had a return on equity of 8.02% and a net margin of 13.62%. The firm had revenue of $225.80 million for the quarter, compared to analyst estimates of $232.00 million. During the same quarter last year, the company earned $0.58 EPS. The company’s revenue was down 6.6% on a year-over-year basis. As a group, research analysts expect that United Community Banks, Inc. will post 2.15 EPS for the current fiscal year.

United Community Banks Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $0.23 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.92 annualized dividend and a dividend yield of 3.56%. United Community Banks’s payout ratio is 59.74%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on UCBI. Piper Sandler cut their price objective on United Community Banks from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday. Truist Financial cut their price objective on United Community Banks from $31.00 to $28.00 and set a “hold” rating for the company in a research report on Monday, April 1st. TheStreet cut United Community Banks from a “b” rating to a “c+” rating in a research report on Wednesday, January 24th. StockNews.com upgraded United Community Banks to a “sell” rating in a research note on Wednesday, January 17th. Finally, DA Davidson reiterated a “buy” rating on shares of United Community Banks in a research note on Monday, January 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, United Community Banks currently has a consensus rating of “Hold” and an average target price of $30.60.

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.