Corsair Capital Exits Position in United Community Banks (UCBI)

United Community Banks (UCBI) : Corsair Capital has sold out all of its stake in United Community Banks during the most recent quarter, according to the disclosure filed by the company on Aug 12, 2016 with the SEC. The investment management company has sold out 7,300,047 shares of United Community Banks which is valued at $144,613,931.

Other Hedge Funds, Including , Geode Capital Management boosted its stake in UCBI in the latest quarter, The investment management firm added 55,313 additional shares and now holds a total of 470,862 shares of United Community Banks which is valued at $9,327,776.New York State Common Retirement Fund boosted its stake in UCBI in the latest quarter, The investment management firm added 2,000 additional shares and now holds a total of 342,188 shares of United Community Banks which is valued at $6,778,744. United Community Banks makes up approx 0.01% of New York State Common Retirement Fund’s portfolio.California Public Employees Retirement System boosted its stake in UCBI in the latest quarter, The investment management firm added 6,700 additional shares and now holds a total of 122,100 shares of United Community Banks which is valued at $2,330,889.Swiss National Bank boosted its stake in UCBI in the latest quarter, The investment management firm added 14,500 additional shares and now holds a total of 106,900 shares of United Community Banks which is valued at $2,040,721.

United Community Banks opened for trading at $20.48 and hit $20.78 on the upside on Monday, eventually ending the session at $20.69, with a gain of 1.03% or 0.21 points. The heightened volatility saw the trading volume jump to 4,94,258 shares. Company has a market cap of $1,465 M.

On the company’s financial health, United Community Banks reported $0.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.35.Analysts expectations of $ 96.75.During the same quarter in the previous year, the company posted $0.32 EPS.

Investors should note that on Jul 27, 2016, United Community Banks announced a cash dividend of $0.0800. The company’s management has announced Sep 13, 2016 as the ex-dividend date and fixed the record date on Sep 15, 2016. The payable date has been fixed on Oct 5, 2016.

United Community Banks Inc. is a bank holding company. The Company’s principal business is conducted by its wholly owned subsidiary United Community Bank (the Bank). The Bank is a chartered commercial bank that serves markets throughout north Georgia coastal Georgia the Atlanta Georgia MSA the Gainesville Georgia MSA western North Carolina the Greenville South Carolina MSA and east and central Tennessee and provides a full range of banking services. The Company conducts substantially all of its operations through a community focused operating model of separate community banks. The community banks offer a full range of retail and corporate banking services including checking savings and time deposit accounts secured and unsecured loans wire transfers brokerage services and other financial services.

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