ExodusPoint Capital Management LP Purchases New Position in United Community Banks, Inc. (NASDAQ:UCB)

ExodusPoint Capital Management LP bought a new position in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 22,734 shares of the company's stock, valued at approximately $735,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of UCB. Nomura Asset Management Co. Ltd. acquired a new stake in United Community Banks in the 4th quarter valued at $31,000. Farther Finance Advisors LLC bought a new stake in shares of United Community Banks during the fourth quarter worth about $80,000. Lee Danner & Bass Inc. bought a new stake in shares of United Community Banks during the fourth quarter worth about $174,000. Orion Portfolio Solutions LLC acquired a new stake in shares of United Community Banks in the 4th quarter worth about $232,000. Finally, Patten & Patten Inc. TN bought a new position in United Community Banks in the 4th quarter valued at about $255,000. 82.29% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Sally Pope Davis acquired 1,800 shares of United Community Banks stock in a transaction on Tuesday, March 11th. The stock was acquired at an average cost of $28.19 per share, with a total value of $50,742.00. Following the completion of the acquisition, the director now owns 3,264 shares in the company, valued at approximately $92,012.16. This trade represents a 122.95 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO H Lynn Harton sold 31,679 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $33.84, for a total value of $1,072,017.36. Following the completion of the sale, the chief executive officer now directly owns 112,444 shares of the company's stock, valued at $3,805,104.96. This represents a 21.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on UCB shares. Piper Sandler increased their price objective on United Community Banks from $32.00 to $35.00 and gave the stock a "neutral" rating in a research note on Thursday, January 23rd. Hovde Group raised United Community Banks from a "market perform" rating to an "outperform" rating and lowered their price target for the company from $32.00 to $31.00 in a research report on Monday, April 7th. Finally, Raymond James upgraded United Community Banks from a "market perform" rating to an "outperform" rating and set a $35.00 price objective on the stock in a research note on Thursday, December 19th.

United Community Banks Stock Performance

United Community Banks stock traded down $0.09 during mid-day trading on Thursday, reaching $24.56. 140,088 shares of the company's stock were exchanged, compared to its average volume of 663,694. The business's fifty day simple moving average is $28.91 and its 200 day simple moving average is $30.62. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.08. United Community Banks, Inc. has a one year low of $22.93 and a one year high of $35.38. The firm has a market capitalization of $2.93 billion, a PE ratio of 12.03 and a beta of 0.80.

United Community Banks Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were given a dividend of $0.24 per share. The ex-dividend date was Friday, March 14th. This represents a $0.96 annualized dividend and a yield of 3.91%. United Community Banks's payout ratio is currently 47.06%.

United Community Banks 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.