1,409,073 Shares in United Community Banks, Inc. (NASDAQ:UCB) Acquired by Northern Trust Corp

Northern Trust Corp purchased a new position in United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,409,073 shares of the company's stock, valued at approximately $45,527,000. Northern Trust Corp owned about 1.18% of United Community Banks at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Nomura Asset Management Co. Ltd. bought a new stake in United Community Banks in the fourth quarter worth $31,000. Quadrant Capital Group LLC purchased a new position in United Community Banks during the 4th quarter worth approximately $45,000. Tower Research Capital LLC TRC acquired a new position in shares of United Community Banks in the 4th quarter valued at $59,000. Farther Finance Advisors LLC acquired a new position in shares of United Community Banks in the 4th quarter valued at $80,000. Finally, Sterling Capital Management LLC purchased a new stake in United Community Banks in the 4th quarter worth $124,000. 82.29% of the stock is currently owned by institutional investors.

United Community Banks Trading Up 0.1%

Shares of NASDAQ:UCB traded up $0.02 during trading on Tuesday, reaching $29.78. The stock had a trading volume of 369,671 shares, compared to its average volume of 673,362. United Community Banks, Inc. has a fifty-two week low of $22.93 and a fifty-two week high of $35.38. The business has a fifty day moving average price of $27.07 and a 200-day moving average price of $30.51. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.08. The stock has a market cap of $3.56 billion, a P/E ratio of 14.60 and a beta of 0.75.

United Community Banks Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend was Friday, March 14th. United Community Banks's payout ratio is currently 45.50%.

Analyst Ratings Changes

UCB has been the topic of several recent research reports. Keefe, Bruyette & Woods lowered their target price on shares of United Community Banks from $35.00 to $32.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 30th. DA Davidson reduced their price target on shares of United Community Banks from $38.00 to $33.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Stephens restated an "overweight" rating and issued a $36.00 price objective on shares of United Community Banks in a report on Wednesday, April 23rd. Hovde Group upgraded shares of United Community Banks from a "market perform" rating to an "outperform" rating and dropped their price target for the company from $32.00 to $31.00 in a research note on Monday, April 7th. Finally, Piper Sandler increased their price target on shares of United Community Banks from $32.00 to $35.00 and gave the company a "neutral" rating in a research note on Thursday, January 23rd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, United Community Banks has a consensus rating of "Moderate Buy" and a consensus price target of $33.14.

Insider Activity at United Community Banks

In other news, Director Sally Pope Davis bought 1,800 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was bought at an average cost of $28.19 per share, for a total transaction of $50,742.00. Following the completion of the acquisition, the director now directly owns 3,264 shares in the company, valued at $92,012.16. This represents a 122.95% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 0.43% of the stock is currently owned by corporate insiders.

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.