80,324 Shares in United Community Banks, Inc. (NASDAQ:UCB) Bought by Price T Rowe Associates Inc. MD

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

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

United Community Banks Stock Down 1.9 %

Shares of NASDAQ:UCB opened at $27.91 on Wednesday. The stock's 50-day moving average is $27.28 and its 200 day moving average is $30.48. The company has a market cap of $3.33 billion, a PE ratio of 13.68 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, Inc. has a 1 year low of $22.93 and a 1 year high of $35.38.

United Community Banks Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.44%. United Community Banks's dividend payout ratio is presently 45.50%.

Analysts Set New Price Targets

A number of research analysts have commented on UCB shares. Hovde Group upgraded shares of United Community Banks from a "market perform" rating to an "outperform" rating and reduced their price target for the company from $32.00 to $31.00 in a research report on Monday, April 7th. DA Davidson reduced their target price on shares of United Community Banks from $38.00 to $33.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Stephens reissued an "overweight" rating and issued a $36.00 price target on shares of United Community Banks in a research note on Wednesday, April 23rd. Keefe, Bruyette & Woods reduced their price objective on 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. Finally, Piper Sandler boosted their target price on 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 research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $33.14.

Insider Activity at United Community Banks

In related news, Director Sally Pope Davis acquired 1,800 shares of the stock in a transaction on Tuesday, March 11th. The stock was acquired 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 of the company's stock, valued at approximately $92,012.16. This represents a 122.95 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $1,072,017.36. Following the transaction, the chief executive officer now owns 112,444 shares in the company, valued at $3,805,104.96. This trade represents a 21.98 % decrease in their position. The disclosure for this sale can be found here. 0.43% of the stock is owned by corporate insiders.

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.

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