Price T Rowe Associates Inc. MD Makes New $2.60 Million Investment in United Community Banks, Inc. (NASDAQ:UCB)

Price T Rowe Associates Inc. MD bought a new stake in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 80,324 shares of the company's stock, valued at approximately $2,596,000. Price T Rowe Associates Inc. MD owned about 0.07% of United Community Banks at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Farther Finance Advisors LLC purchased a new stake in United Community Banks during the fourth quarter valued at about $80,000. Great Lakes Advisors LLC acquired a new stake in shares of United Community Banks during the fourth quarter valued at approximately $3,050,000. Swiss National Bank purchased a new stake in shares of United Community Banks in the 4th quarter valued at approximately $7,573,000. Commonwealth Equity Services LLC acquired a new position in United Community Banks in the 4th quarter worth approximately $273,000. Finally, Natixis Advisors LLC purchased a new position in United Community Banks during the 4th quarter worth approximately $498,000. 82.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at United Community Banks

In related news, Director Sally Pope Davis bought 1,800 shares of the business's stock in a transaction that occurred on 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 purchase, the director now directly owns 3,264 shares in the company, valued at $92,012.16. This trade represents a 122.95% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.43% of the stock is currently owned by company insiders.

United Community Banks Stock Up 5.2%

NASDAQ:UCB traded up $1.47 during trading hours on Monday, reaching $30.00. The company's stock had a trading volume of 49,385 shares, compared to its average volume of 671,452. United Community Banks, Inc. has a one year low of $22.93 and a one year high of $35.38. The business's 50-day moving average is $27.08 and its 200-day moving average is $30.50. The company has a market cap of $3.58 billion, a price-to-earnings ratio of 14.68 and a beta of 0.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.78 and a quick ratio of 0.78.

United Community Banks Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date was Friday, March 14th. United Community Banks's dividend payout ratio is 45.50%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Piper Sandler raised their target price on 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 objective on United Community Banks from $35.00 to $32.00 and set a "market perform" rating for the company in a research report on Wednesday, April 30th. Stephens reissued an "overweight" rating and issued a $36.00 price target on shares of United Community Banks in a research report on Wednesday, April 23rd. Hovde Group upgraded shares of United Community Banks from a "market perform" rating to an "outperform" rating and cut their target price for the stock from $32.00 to $31.00 in a research report on Monday, April 7th. Finally, DA Davidson dropped 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 note on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $33.14.

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.