1,236,397 Shares in United Community Banks, Inc. (NASDAQ:UCB) Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp bought a new stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,236,397 shares of the company's stock, valued at approximately $34,780,000. Bank of New York Mellon Corp owned 1.04% of United Community Banks as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. bought a new stake in United Community Banks in the fourth quarter valued at about $31,000. Versant Capital Management Inc bought a new stake in shares of United Community Banks in the 1st quarter valued at approximately $37,000. Public Employees Retirement System of Ohio acquired a new position in shares of United Community Banks in the 4th quarter worth approximately $42,000. Quadrant Capital Group LLC bought a new position in shares of United Community Banks during the 4th quarter worth approximately $45,000. Finally, MassMutual Private Wealth & Trust FSB acquired a new stake in United Community Banks in the 1st quarter valued at $45,000. 82.29% of the stock is owned by institutional investors and hedge funds.

United Community Banks Price Performance

NASDAQ:UCB traded down $0.02 during mid-day trading on Friday, reaching $31.70. 756,713 shares of the company were exchanged, compared to its average volume of 663,374. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.08. The stock has a market cap of $3.85 billion, a PE ratio of 15.54 and a beta of 0.78. United Community Banks, Inc. has a 12 month low of $22.93 and a 12 month high of $35.38. The company has a fifty day moving average of $29.63 and a 200 day moving average of $29.64.

United Community Banks Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Sunday, June 15th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend was Friday, June 13th. United Community Banks's dividend payout ratio is currently 45.50%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on UCB. DA Davidson reduced their target price on shares of United Community Banks from $38.00 to $33.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Keefe, Bruyette & Woods reduced their price target on shares of 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. Stephens reaffirmed an "overweight" rating and set a $36.00 price objective on shares of United Community Banks in a research note on Wednesday, April 23rd. Hovde Group upgraded shares of United Community Banks from a "market perform" rating to an "outperform" rating and cut their target price for the company from $32.00 to $31.00 in a research note on Monday, April 7th. Finally, Raymond James Financial reissued a "market perform" rating on shares of United Community Banks in a report on Tuesday, July 8th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, United Community Banks currently has a consensus rating of "Hold" and an average target price of $33.14.

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.