United Community Banks, Inc. (NASDAQ:UCBI) Shares Bought by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in United Community Banks, Inc. (NASDAQ:UCBI) by 11.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 456,401 shares of the financial services provider’s stock after acquiring an additional 47,975 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.38% of United Community Banks worth $11,620,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Peregrine Capital Management LLC lifted its holdings in United Community Banks by 9.3% in the second quarter. Peregrine Capital Management LLC now owns 269,002 shares of the financial services provider’s stock valued at $6,849,000 after acquiring an additional 22,897 shares during the period. Innealta Capital LLC acquired a new stake in United Community Banks in the second quarter valued at $85,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of United Community Banks by 19.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,630 shares of the financial services provider’s stock valued at $500,000 after buying an additional 3,258 shares in the last quarter. HB Wealth Management LLC purchased a new position in shares of United Community Banks in the second quarter valued at $406,000. Finally, Everhart Financial Group Inc. purchased a new position in shares of United Community Banks in the second quarter valued at $218,000. Institutional investors and hedge funds own 82.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. DA Davidson raised their price target on United Community Banks from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Keefe, Bruyette & Woods lifted their price objective 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. StockNews.com assumed coverage on United Community Banks in a research report on Saturday. They set a “hold” rating for the company. Finally, Truist Financial raised their price target on United Community Banks from $26.00 to $31.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, United Community Banks currently has an average rating of “Hold” and an average target price of $31.50.

United Community Banks Stock Performance

NASDAQ UCBI opened at $27.83 on Friday. The firm has a market capitalization of $3.32 billion, a P/E ratio of 18.07 and a beta of 0.90. United Community Banks, Inc. has a 1-year low of $21.63 and a 1-year high of $31.96. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.80 and a quick ratio of 0.79. The business’s 50-day simple moving average is $27.70 and its 200-day simple moving average is $26.37.

United Community Banks (NASDAQ:UCBI) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.07. The business 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 was up 17.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.55 EPS. Equities analysts predict that United Community Banks, Inc. will post 2.24 EPS for the current year.

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.