SG Americas Securities LLC Makes New Investment in United Community Banks, Inc. (NASDAQ:UCB)

SG Americas Securities LLC purchased a new stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 23,627 shares of the company's stock, valued at approximately $665,000.

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

Analysts Set New Price Targets

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

United Community Banks Stock Performance

Shares of UCB traded up $0.03 during mid-day trading on Wednesday, hitting $29.07. 640,684 shares of the company's stock were exchanged, compared to its average volume of 664,876. United Community Banks, Inc. has a 52 week low of $22.93 and a 52 week high of $35.38. The stock's 50-day simple moving average is $28.29 and its 200-day simple moving average is $29.81. The firm has a market cap of $3.53 billion, a price-to-earnings ratio of 14.25 and a beta of 0.78. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.08.

United Community Banks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Sunday, June 15th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date is Friday, June 13th. United Community Banks's dividend payout ratio is currently 45.50%.

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.