Comerica Bank Acquires New Stake in United Community Banks, Inc. (NASDAQ:UCB)

Comerica Bank bought a new position in United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 41,543 shares of the company's stock, valued at approximately $1,342,000.

Several other institutional investors and hedge funds have also modified their holdings of UCB. Vanguard Group Inc. bought a new position in United Community Banks in the 4th quarter valued at $450,141,000. FMR LLC acquired a new stake in shares of United Community Banks in the fourth quarter valued at $310,166,000. Dimensional Fund Advisors LP bought a new position in shares of United Community Banks in the fourth quarter valued at about $195,766,000. Capital Research Global Investors acquired a new position in United Community Banks during the 4th quarter worth about $148,763,000. Finally, Earnest Partners LLC acquired a new position in United Community Banks during the 4th quarter worth about $113,536,000. 82.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on UCB shares. Hovde Group upgraded shares of United Community Banks from a "market perform" rating to an "outperform" rating and lowered their price objective for the company from $32.00 to $31.00 in a research report on Monday, April 7th. DA Davidson lowered their price target on shares of United Community Banks from $38.00 to $33.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Piper Sandler upped 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. Keefe, Bruyette & Woods decreased 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 report on Wednesday, April 30th. Finally, Stephens restated an "overweight" rating and set a $36.00 target price on shares of United Community Banks in a research report on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $33.14.

United Community Banks Trading Down 0.5%

Shares of UCB stock traded down $0.16 during trading hours on Friday, reaching $29.60. The company had a trading volume of 121,982 shares, compared to its average volume of 667,717. United Community Banks, Inc. has a 1-year low of $22.93 and a 1-year high of $35.38. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of 14.52 and a beta of 0.75. The company has a 50 day moving average of $27.10 and a 200 day moving average of $30.51.

United Community Banks Announces Dividend

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 $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend was Friday, March 14th. United Community Banks's payout ratio is 45.50%.

Insiders Place Their Bets

In other news, Director Sally Pope Davis purchased 1,800 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average cost of $28.19 per share, for a total transaction of $50,742.00. Following the transaction, the director now directly owns 3,264 shares of the company's stock, valued at approximately $92,012.16. The trade was a 122.95% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.43% of the company's stock.

About United Community Banks

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.