Envestnet Asset Management Inc. Invests $8.50 Million in United Community Banks, Inc. (NASDAQ:UCB)

Envestnet Asset Management Inc. bought a new position in United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 262,953 shares of the company's stock, valued at approximately $8,496,000. Envestnet Asset Management Inc. owned about 0.22% of United Community Banks as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in UCB. Nomura Asset Management Co. Ltd. acquired a new position in shares of United Community Banks in the 4th quarter valued at $31,000. Farther Finance Advisors LLC acquired a new position in shares of United Community Banks during the 4th quarter worth about $80,000. Lee Danner & Bass Inc. acquired a new position in shares of United Community Banks during the 4th quarter worth about $174,000. Landscape Capital Management L.L.C. acquired a new position in shares of United Community Banks during the 4th quarter worth about $219,000. Finally, Orion Portfolio Solutions LLC acquired a new position in shares of United Community Banks during the 4th quarter worth about $232,000. Institutional investors own 82.29% of the company's stock.

Wall Street Analysts Forecast Growth

UCB has been the topic of several recent research reports. Piper Sandler raised their target price on shares of United Community Banks from $32.00 to $35.00 and gave the stock a "neutral" rating in a report on Thursday, January 23rd. DA Davidson decreased their target price on United Community Banks from $38.00 to $33.00 and set a "buy" rating for the company in a research note on Wednesday. Hovde Group raised United Community Banks from a "market perform" rating to an "outperform" rating and decreased their target price for the stock from $32.00 to $31.00 in a research note on Monday, April 7th. Finally, Stephens reaffirmed an "overweight" rating and set a $36.00 target price on shares of United Community Banks in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $33.33.

Insider Activity at United Community Banks

In other United Community Banks news, Director Sally Pope Davis acquired 1,800 shares of the company's stock in a transaction on 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 acquisition, the director now directly owns 3,264 shares in the company, valued at $92,012.16. This trade represents a 122.95 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO H Lynn Harton sold 31,679 shares of the firm'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 completion of the sale, the chief executive officer now directly owns 112,444 shares in the company, valued at $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. 0.54% of the stock is owned by company insiders.

United Community Banks Stock Performance

Shares of UCB stock traded up $0.06 during trading on Thursday, hitting $26.69. The company's stock had a trading volume of 78,054 shares, compared to its average volume of 790,995. The business has a fifty day moving average of $28.08 and a 200-day moving average of $30.52. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.08. United Community Banks, Inc. has a 52 week low of $22.93 and a 52 week high of $35.38. The company has a market cap of $3.19 billion, a PE ratio of 13.09 and a beta of 0.80.

United Community Banks Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were given a dividend of $0.24 per share. The ex-dividend date was Friday, March 14th. This represents a $0.96 annualized dividend and a yield of 3.60%. United Community Banks's payout ratio is currently 47.06%.

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.