Mayfair Advisory Group LLC Cuts Stock Holdings in United Community Banks, Inc. (NASDAQ:UCBI)

Mayfair Advisory Group LLC lowered its position in United Community Banks, Inc. (NASDAQ:UCBI) by 17.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,011 shares of the financial services provider’s stock after selling 9,166 shares during the period. United Community Banks comprises about 0.8% of Mayfair Advisory Group LLC’s portfolio, making the stock its 28th largest position. Mayfair Advisory Group LLC’s holdings in United Community Banks were worth $1,158,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. GAMMA Investing LLC bought a new position in United Community Banks in the 4th quarter valued at $72,000. SG Americas Securities LLC bought a new stake in shares of United Community Banks during the 4th quarter worth $115,000. FinTrust Capital Advisors LLC boosted its holdings in shares of United Community Banks by 12.5% in the 4th quarter. FinTrust Capital Advisors LLC now owns 4,493 shares of the financial services provider’s stock worth $131,000 after buying an additional 500 shares during the last quarter. TFO Wealth Partners LLC grew its position in United Community Banks by 111,360.0% during the fourth quarter. TFO Wealth Partners LLC now owns 5,573 shares of the financial services provider’s stock valued at $163,000 after buying an additional 5,568 shares during the period. Finally, Strs Ohio increased its holdings in United Community Banks by 17.6% during the fourth quarter. Strs Ohio now owns 6,000 shares of the financial services provider’s stock worth $175,000 after buying an additional 900 shares during the last quarter. 82.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Piper Sandler reduced their target price on shares of United Community Banks from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Truist Financial reduced their price objective on United Community Banks from $31.00 to $28.00 and set a “hold” rating for the company in a report on Monday, April 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $30.60.

United Community Banks Stock Performance

Shares of NASDAQ UCBI traded up $0.26 during midday trading on Friday, hitting $25.46. The company’s stock had a trading volume of 1,713,752 shares, compared to its average volume of 461,560. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of 16.53 and a beta of 0.92. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.10. The stock has a fifty day moving average price of $25.64 and a 200 day moving average price of $26.57. United Community Banks, Inc. has a one year low of $21.63 and a one year high of $30.75.

United Community Banks (NASDAQ:UCBI) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. United Community Banks had a net margin of 13.62% and a return on equity of 8.02%. The business had revenue of $225.80 million for the quarter, compared to analysts’ expectations of $232.00 million. During the same quarter in the previous year, the firm posted $0.58 EPS. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. On average, research analysts forecast that United Community Banks, Inc. will post 2.12 EPS for the current fiscal year.

United Community Banks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Saturday, June 15th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.92 annualized dividend and a yield of 3.61%. United Community Banks’s dividend payout ratio is currently 59.74%.

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.