CANADA LIFE ASSURANCE Co acquired a new position in United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 144,393 shares of the company's stock, valued at approximately $4,666,000. CANADA LIFE ASSURANCE Co owned 0.12% of United Community Banks at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. bought a new position in United Community Banks in the 4th quarter worth $450,141,000. FMR LLC purchased a new stake in shares of United Community Banks in the 4th quarter worth about $310,166,000. Geode Capital Management LLC bought a new position in shares of United Community Banks in the 4th quarter worth about $88,397,000. Massachusetts Financial Services Co. MA purchased a new position in United Community Banks during the 4th quarter valued at about $60,495,000. Finally, Invesco Ltd. bought a new stake in United Community Banks during the fourth quarter worth about $46,960,000. Institutional investors own 82.29% of the company's stock.
United Community Banks Stock Performance
Shares of NASDAQ UCB traded down $0.09 during trading on Wednesday, reaching $27.68. 713,260 shares of the company traded hands, compared to its average volume of 677,449. The stock has a market capitalization of $3.31 billion, a PE ratio of 13.57 and a beta of 0.80. The firm has a 50 day simple moving average of $27.53 and a 200-day simple moving average of $30.51. United Community Banks, Inc. has a 52-week low of $22.93 and a 52-week high of $35.38. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.08.
United Community Banks Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were paid 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 yield of 3.47%. United Community Banks's dividend payout ratio is presently 45.50%.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lowered their target price on shares of United Community Banks from $35.00 to $32.00 and set a "market perform" rating for the company in a report on Wednesday. Stephens reissued an "overweight" rating and issued a $36.00 target price on shares of United Community Banks in a report on Wednesday, April 23rd. Piper Sandler increased their target price on United Community Banks from $32.00 to $35.00 and gave the stock a "neutral" rating in a research note on Thursday, January 23rd. DA Davidson lowered their price target on United Community Banks from $38.00 to $33.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Finally, Hovde Group raised shares of United Community Banks from a "market perform" rating to an "outperform" rating and cut their price objective for the company from $32.00 to $31.00 in a research report on Monday, April 7th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $33.14.
Read Our Latest Stock Report on UCB
Insider Activity
In other United Community Banks news, Director Sally Pope Davis acquired 1,800 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average price of $28.19 per share, with a total value of $50,742.00. Following the completion of the acquisition, the director now owns 3,264 shares in the company, valued at $92,012.16. This represents a 122.95 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO H Lynn Harton sold 31,679 shares of the company's stock in a transaction that occurred on Monday, February 10th. The shares were 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 directly owns 112,444 shares of the company's stock, valued at approximately $3,805,104.96. This represents a 21.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company's stock.
About United Community Banks
(
Free Report)
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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