Earnest Partners LLC Makes New Investment in United Community Banks, Inc. (NASDAQ:UCB)

Earnest Partners LLC bought a new stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,513,959 shares of the company's stock, valued at approximately $113,536,000. Earnest Partners LLC owned about 2.95% of United Community Banks as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC acquired a new position in shares of United Community Banks in the fourth quarter worth $80,000. Great Lakes Advisors LLC acquired a new stake in shares of United Community Banks during the 4th quarter worth about $3,050,000. Swiss National Bank purchased a new stake in shares of United Community Banks during the fourth quarter worth about $7,573,000. Commonwealth Equity Services LLC acquired a new position in shares of United Community Banks in the fourth quarter valued at approximately $273,000. Finally, Natixis Advisors LLC purchased a new position in shares of United Community Banks during the fourth quarter valued at approximately $498,000. Hedge funds and other institutional investors own 82.29% of the company's stock.

United Community Banks Stock Up 2.6 %

NASDAQ UCB traded up $0.73 during trading on Friday, reaching $28.61. 171,985 shares of the company's stock were exchanged, compared to its average volume of 676,041. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.08. United Community Banks, Inc. has a fifty-two week low of $22.93 and a fifty-two week high of $35.38. The company's fifty day simple moving average is $27.47 and its 200-day simple moving average is $30.50. The firm has a market capitalization of $3.42 billion, a PE ratio of 14.04 and a beta of 0.80.

United Community Banks Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were issued 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 3.36%. United Community Banks's dividend payout ratio (DPR) is currently 45.50%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Hovde Group raised United Community Banks from a "market perform" rating to an "outperform" rating and reduced their price target for the stock from $32.00 to $31.00 in a research note on Monday, April 7th. Piper Sandler upped their price target on shares of United Community Banks from $32.00 to $35.00 and gave the stock a "neutral" rating in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods decreased their price target on shares of United Community Banks from $35.00 to $32.00 and set a "market perform" rating on the stock in a report on Wednesday. Stephens restated an "overweight" rating and set a $36.00 price objective on shares of United Community Banks in a report on Wednesday, April 23rd. Finally, DA Davidson reduced their target price on United Community Banks from $38.00 to $33.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $33.14.

Insiders Place Their Bets

In other United Community Banks news, CEO H Lynn Harton sold 31,679 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $33.84, for a total transaction of $1,072,017.36. Following the completion of the sale, the chief executive officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sally Pope Davis purchased 1,800 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average cost of $28.19 per share, for a total transaction of $50,742.00. Following the transaction, the director now owns 3,264 shares of the company's stock, valued at approximately $92,012.16. This trade represents a 122.95 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.54% of the company's stock.

United Community Banks Company 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.