Alliancebernstein L.P. Invests $4.75 Million in United Community Banks, Inc. (NASDAQ:UCB)

Alliancebernstein L.P. purchased a new stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 147,112 shares of the company's stock, valued at approximately $4,753,000. Alliancebernstein L.P. owned 0.12% of United Community Banks at the end of the most recent reporting period.

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

United Community Banks Price Performance

Shares of NASDAQ:UCB traded up $0.09 during trading on Friday, reaching $24.74. The stock had a trading volume of 1,063,249 shares, compared to its average volume of 668,807. The stock has a market capitalization of $2.95 billion, a PE ratio of 12.13 and a beta of 0.80. 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 52 week low of $22.93 and a 52 week high of $35.38. The business's 50-day moving average price is $28.54 and its 200 day moving average price is $30.57.

United Community Banks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were given a $0.24 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.96 annualized dividend and a yield of 3.88%. United Community Banks's payout ratio is 47.06%.

Insider Transactions at United Community Banks

In other United Community Banks news, CEO H Lynn Harton sold 31,679 shares of the company's stock in a transaction 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 transaction, the chief executive officer now owns 112,444 shares of the company's stock, valued at approximately $3,805,104.96. This represents a 21.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Richard Bradshaw sold 1,527 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $32.72, for a total value of $49,963.44. Following the completion of the transaction, the executive vice president now owns 67,876 shares in the company, valued at $2,220,902.72. The trade was a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

UCB has been the topic of a number of recent research reports. Piper Sandler lifted their price objective on United Community Banks from $32.00 to $35.00 and gave the company a "neutral" rating in a report on Thursday, January 23rd. Raymond James raised United Community Banks from a "market perform" rating to an "outperform" rating and set a $35.00 price target on the stock in a research note on Thursday, December 19th. Finally, Hovde Group upgraded 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.

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.