700,135 Shares in United Community Banks, Inc. (NASDAQ:UCB) Purchased by Aristotle Capital Boston LLC

Aristotle Capital Boston LLC purchased a new position in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 700,135 shares of the company's stock, valued at approximately $22,621,000. Aristotle Capital Boston LLC owned approximately 0.59% of United Community Banks at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Keel Point LLC purchased a new stake in shares of United Community Banks during the fourth quarter valued at $524,000. Jane Street Group LLC acquired a new position in shares of United Community Banks in the fourth quarter valued at about $1,772,000. Comerica Bank purchased a new position in shares of United Community Banks in the fourth quarter worth about $1,342,000. Northern Trust Corp acquired a new stake in shares of United Community Banks during the fourth quarter worth about $45,527,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in United Community Banks in the fourth quarter valued at approximately $2,131,000. Institutional investors and hedge funds own 82.29% of the company's stock.

United Community Banks Trading Up 3.0 %

UCB traded up $0.83 on Thursday, hitting $28.85. The company had a trading volume of 141,168 shares, compared to its average volume of 673,531. The company's fifty day moving average price is $27.19 and its 200 day moving average price is $30.46. United Community Banks, Inc. has a 1 year low of $22.93 and a 1 year high of $35.38. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.08. The firm has a market cap of $3.45 billion, a P/E ratio of 14.14 and a beta of 0.75.

United Community Banks Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 3.33%. United Community Banks's dividend payout ratio is presently 45.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. DA Davidson lowered 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 report on Wednesday, April 23rd. Stephens reissued an "overweight" rating and issued a $36.00 price objective on shares of United Community Banks in a report on Wednesday, April 23rd. Hovde Group raised shares of United Community Banks from a "market perform" rating to an "outperform" rating and cut their price target for the stock from $32.00 to $31.00 in a report on Monday, April 7th. Piper Sandler lifted their price objective on United Community Banks from $32.00 to $35.00 and gave the stock a "neutral" rating in a report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods decreased their target price on United Community Banks from $35.00 to $32.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 30th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $33.14.

Insider Buying and Selling at United Community Banks

In other news, CEO H Lynn Harton sold 31,679 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now owns 112,444 shares of the company's stock, valued at approximately $3,805,104.96. This trade represents a 21.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sally Pope Davis purchased 1,800 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were 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 $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. 0.43% of the stock is currently 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.