Innealta Capital LLC Buys New Shares in United Community Banks, Inc. (NASDAQ:UCBI)

Innealta Capital LLC bought a new stake in United Community Banks, Inc. (NASDAQ:UCBI) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,354 shares of the financial services provider’s stock, valued at approximately $85,000.

A number of other hedge funds and other institutional investors have also modified their holdings of UCBI. Vanguard Group Inc. increased its stake in United Community Banks by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 13,552,982 shares of the financial services provider’s stock worth $396,560,000 after acquiring an additional 274,275 shares during the period. Dimensional Fund Advisors LP increased its stake in United Community Banks by 13.9% during the 4th 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 increased its stake in United Community Banks by 0.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,777,906 shares of the financial services provider’s stock worth $52,022,000 after acquiring an additional 5,848 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of United Community Banks by 4.5% in 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 in the last quarter. Finally, Norges Bank acquired a new stake in shares of United Community Banks in the 4th quarter valued at $37,723,000. Institutional investors and hedge funds own 82.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. StockNews.com assumed coverage on United Community Banks in a report on Friday, August 23rd. They issued a “hold” rating on the stock. Truist Financial raised their price objective on United Community Banks from $26.00 to $31.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Keefe, Bruyette & Woods raised their target price on United Community Banks from $28.00 to $32.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Finally, DA Davidson raised their target price 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. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $31.50.

United Community Banks Stock Down 3.2 %

Shares of UCBI traded down $0.93 on Friday, reaching $27.83. The company’s stock had a trading volume of 774,200 shares, compared to its average volume of 595,132. The stock has a market capitalization of $3.32 billion, a PE ratio of 18.07 and a beta of 0.90. The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 0.10. United Community Banks, Inc. has a twelve month low of $21.63 and a twelve month high of $31.96. The firm has a fifty day moving average of $27.64 and a 200-day moving average of $26.37.

United Community Banks (NASDAQ:UCBI) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.07. The company had revenue of $347.00 million for the quarter, compared to analyst estimates of $238.95 million. United Community Banks had a return on equity of 8.04% and a net margin of 13.36%. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter last year, the company earned $0.55 earnings per share. Equities analysts predict that United Community Banks, Inc. will post 2.24 EPS for the current year.

United Community Banks 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.