ClariVest Asset Management LLC Sells 9,401 Shares of United Community Banks, Inc. (UCBI)

ClariVest Asset Management LLC lowered its position in United Community Banks, Inc. (NASDAQ:UCBI) by 5.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,660 shares of the financial services provider’s stock after selling 9,401 shares during the quarter. ClariVest Asset Management LLC owned approximately 0.21% of United Community Banks worth $3,642,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Private Capital Group LLC boosted its stake in shares of United Community Banks by 210.7% during the 4th quarter. Private Capital Group LLC now owns 1,793 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 1,216 shares in the last quarter. SG Americas Securities LLC acquired a new position in United Community Banks in the 4th quarter valued at approximately $150,000. WINTON GROUP Ltd acquired a new position in United Community Banks in the 3rd quarter valued at approximately $203,000. Assenagon Asset Management S.A. acquired a new position in United Community Banks in the 3rd quarter valued at approximately $214,000. Finally, Paloma Partners Management Co acquired a new position in United Community Banks in the 3rd quarter valued at approximately $228,000. Hedge funds and other institutional investors own 88.03% of the company’s stock.

NASDAQ UCBI opened at $28.24 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.82 and a quick ratio of 0.81. United Community Banks, Inc. has a 1-year low of $20.23 and a 1-year high of $34.18. The company has a market capitalization of $2.20 billion, a PE ratio of 13.20 and a beta of 1.19.

United Community Banks (NASDAQ:UCBI) last announced its quarterly earnings results on Tuesday, January 22nd. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.02. The company had revenue of $135.82 million during the quarter, compared to the consensus estimate of $137.89 million. United Community Banks had a net margin of 27.81% and a return on equity of 12.27%. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.42 earnings per share. On average, sell-side analysts anticipate that United Community Banks, Inc. will post 2.25 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, April 5th. Shareholders of record on Friday, March 15th will be given a dividend of $0.16 per share. The ex-dividend date is Thursday, March 14th. This represents a $0.64 dividend on an annualized basis and a yield of 2.27%. United Community Banks’s dividend payout ratio (DPR) is currently 29.91%.

A number of research firms recently commented on UCBI. Zacks Investment Research upgraded United Community Banks from a “sell” rating to a “hold” rating in a research report on Tuesday, January 22nd. BidaskClub lowered United Community Banks from a “hold” rating to a “sell” rating in a research report on Friday, December 7th. SunTrust Banks raised their price target on United Community Banks to $29.00 and gave the stock a “hold” rating in a research report on Friday, January 25th. Raymond James downgraded United Community Banks from an “outperform” rating to a “market perform” rating in a research note on Monday, January 7th. Finally, Stephens reaffirmed a “hold” rating and set a $27.00 price objective on shares of United Community Banks in a research note on Wednesday, January 23rd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $29.50.

In other United Community Banks news, insider Bill M. Gilbert sold 2,963 shares of the company’s stock in a transaction on Thursday, January 24th. The shares were sold at an average price of $26.03, for a total transaction of $77,126.89. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold 9,446 shares of company stock worth $240,904 in the last ninety days. Insiders own 1.77% of the company’s stock.

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United Community Banks Profile

United Community Banks, Inc operates as the bank holding company for United Community Bank that provides retail and corporate banking services to individuals and businesses. It offers various deposit accounts, such as checking accounts, savings and time deposits accounts, NOW accounts, money market deposits, and certificates of deposit.

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Institutional Ownership by Quarter for United Community Banks (NASDAQ:UCBI)

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