DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 19,947 shares of the company's stock, valued at approximately $644,000.
A number of other hedge funds also recently bought and sold shares of the business. Cresset Asset Management LLC purchased a new position in United Community Banks during the 4th quarter valued at about $1,476,000. Crestline Management LP purchased a new position in shares of United Community Banks during the 4th quarter worth approximately $410,000. Cetera Investment Advisers purchased a new position in shares of United Community Banks during the 4th quarter worth approximately $329,000. Captrust Financial Advisors purchased a new position in shares of United Community Banks during the 4th quarter worth approximately $6,074,000. Finally, Bank of America Corp DE purchased a new position in shares of United Community Banks during the 4th quarter worth approximately $16,468,000. Hedge funds and other institutional investors own 82.29% of the company's stock.
Wall Street Analysts Forecast Growth
UCB has been the topic of a number of research analyst reports. Stephens reiterated an "overweight" rating and set a $36.00 target price on shares of United Community Banks in a report on Wednesday, April 23rd. DA Davidson reduced their target price on United Community Banks from $38.00 to $33.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Piper Sandler upped their target price 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 cut their price target on United Community Banks from $35.00 to $32.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 30th. Finally, Hovde Group upgraded 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 research note on Monday, April 7th. Three equities 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.com, the company has an average rating of "Moderate Buy" and a consensus price target of $33.14.
Check Out Our Latest Research Report on United Community Banks
United Community Banks Stock Up 0.3%
UCB stock traded up $0.09 during midday 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 company has a market cap of $3.56 billion, a PE ratio of 14.60 and a beta of 0.75. United Community Banks, Inc. has a 12 month low of $22.93 and a 12 month 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's 50-day moving average is $27.07 and its 200-day moving average is $30.51.
United Community Banks Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were given a $0.24 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.96 annualized dividend and a yield of 3.22%. United Community Banks's dividend payout ratio (DPR) is presently 45.50%.
Insider Activity at United Community Banks
In other news, Director Sally Pope Davis purchased 1,800 shares of the stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average cost of $28.19 per share, with a total value of $50,742.00. Following the acquisition, the director now directly owns 3,264 shares of the company's stock, valued at $92,012.16. This represents a 122.95% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.43% of the stock is currently owned by insiders.
United Community Banks Profile
(
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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