Cresset Asset Management LLC Takes Position in United Community Banks, Inc. (NASDAQ:UCB)

Cresset Asset Management LLC bought a new position in United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 45,337 shares of the company's stock, valued at approximately $1,476,000.

Several other hedge funds also recently bought and sold shares of UCB. Bank of Montreal Can purchased a new position in shares of United Community Banks during the fourth quarter worth approximately $508,000. Legal & General Group Plc acquired a new stake in shares of United Community Banks during the fourth quarter worth $10,686,000. Northern Trust Corp acquired a new stake in shares of United Community Banks during the fourth quarter worth $45,527,000. Swiss National Bank purchased a new position in shares of United Community Banks during the fourth quarter worth $7,573,000. Finally, Corebridge Financial Inc. purchased a new position in shares of United Community Banks during the fourth quarter worth $2,057,000. Institutional investors own 82.29% of the company's stock.

United Community Banks Price Performance

Shares of UCB traded up $0.09 during mid-day trading on Thursday, hitting $29.79. The company's stock had a trading volume of 424,352 shares, compared to its average volume of 670,483. The firm has a 50-day moving average price of $27.07 and a 200 day moving average price of $30.51. The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of 14.60 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 fifty-two week low of $22.93 and a fifty-two week high of $35.38.

United Community Banks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were paid a $0.24 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 3.22%. United Community Banks's dividend payout ratio is currently 45.50%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on UCB shares. Hovde Group raised shares of United Community Banks from a "market perform" rating to an "outperform" rating and cut their target price for the stock from $32.00 to $31.00 in a research note on Monday, April 7th. DA Davidson decreased 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 research note on Wednesday, April 23rd. Keefe, Bruyette & Woods cut 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 research report on Wednesday, April 30th. Piper Sandler boosted their target price on shares of United Community Banks from $32.00 to $35.00 and gave the company a "neutral" rating in a report on Thursday, January 23rd. Finally, Stephens reissued 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 research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, United Community Banks currently has an average rating of "Moderate Buy" and an average target price of $33.14.

Insider Transactions at United Community Banks

In other news, Director Sally Pope Davis bought 1,800 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average cost of $28.19 per share, with a total value of $50,742.00. Following the completion of the transaction, the director now directly owns 3,264 shares in the company, 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 Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.43% of the company's stock.

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.