The Louisiana State Employees Retirement System Has $658,000 Position in United Community Banks, Inc. (UCBI)

The Louisiana State Employees Retirement System Has $658,000 Position in United Community Banks, Inc. (UCBI)

Louisiana State Employees Retirement System increased its position in United Community Banks, Inc. (NASDAQ:UCBI) by 0.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,300 shares of the financial services provider’s stock after buying an additional 200 shares during the period. Louisiana State Employees Retirement System’s holdings in United Community Banks were worth $658,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in UCBI. Sei Investments Co. increased its stake in United Community Banks by 137.8% in the second quarter. Sei Investments Co. now owns 5,466 shares of the financial services provider’s stock worth $100,000 after buying an additional 3,167 shares in the last quarter. PineBridge Investments L.P. increased its stake in United Community Banks by 19.8% in the second quarter. PineBridge Investments L.P. now owns 8,916 shares of the financial services provider’s stock worth $163,000 after buying an additional 1,472 shares in the last quarter. Teacher Retirement System of Texas increased its stake in United Community Banks by 35.7% in the second quarter. Teacher Retirement System of Texas now owns 9,391 shares of the financial services provider’s stock worth $172,000 after buying an additional 2,470 shares in the last quarter. Legal & General Group Plc increased its stake in United Community Banks by 25.8% in the second quarter. Legal & General Group Plc now owns 10,695 shares of the financial services provider’s stock worth $192,000 after buying an additional 2,195 shares in the last quarter. Finally, ProShare Advisors LLC bought a new stake in United Community Banks during the second quarter worth approximately $207,000.

United Community Banks, Inc. (NASDAQ:UCBI) traded down 0.93% during trading on Thursday, hitting $27.71. 291,042 shares of the stock were exchanged. United Community Banks, Inc. has a 12-month low of $15.74 and a 12-month high of $30.47. The stock’s 50-day moving average price is $29.03 and its 200-day moving average price is $23.01. The firm has a market cap of $1.96 billion and a PE ratio of 21.78.

United Community Banks (NASDAQ:UCBI) last released its quarterly earnings data on Wednesday, October 26th. The financial services provider reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.02. During the same quarter last year, the firm posted $0.33 earnings per share. On average, equities analysts expect that United Community Banks, Inc. will post $1.46 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 5th. Investors of record on Thursday, December 15th were issued a $0.08 dividend. The ex-dividend date was Tuesday, December 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.15%.

A number of analysts recently commented on the stock. Zacks Investment Research downgraded shares of United Community Banks from a “buy” rating to a “hold” rating in a report on Thursday, December 1st. Raymond James Financial Inc. downgraded shares of United Community Banks from a “strong-buy” rating to an “outperform” rating and boosted their price objective for the stock from $27.00 to $32.00 in a report on Thursday, December 22nd. Citigroup Inc. downgraded shares of United Community Banks to an “outperform” rating and set a $32.00 price objective on the stock. in a report on Thursday, December 15th. Keefe, Bruyette & Woods downgraded shares of United Community Banks from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $24.00 to $26.00 in a report on Tuesday, November 29th. Finally, FIG Partners cut shares of United Community Banks from an “outperform” rating to a “market-perform” rating in a research report on Wednesday, January 4th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $27.50.

About United Community Banks

United Community Banks, Inc is a bank holding company. The Company’s principal business is conducted by its subsidiary, United Community Bank (the Bank). The Bank is a chartered commercial bank that serves markets throughout north Georgia, coastal Georgia, the Atlanta-Sandy Springs-Roswell, Georgia and Gainesville, Georgia metropolitan statistical areas, western North Carolina, upstate South Carolina and east Tennessee.

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