329,800 Shares in United Community Banks, Inc. (NASDAQ:UCB) Bought by Ameriprise Financial Inc.

Ameriprise Financial Inc. purchased a new stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 329,800 shares of the company's stock, valued at approximately $10,658,000. Ameriprise Financial Inc. owned about 0.28% of United Community Banks as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Aristotle Capital Boston LLC bought a new position in shares of United Community Banks in the 4th quarter valued at $22,621,000. Keel Point LLC bought a new position in shares of United Community Banks in the 4th quarter valued at $524,000. Jane Street Group LLC bought a new position in shares of United Community Banks in the 4th quarter valued at $1,772,000. Comerica Bank bought a new position in shares of United Community Banks in the 4th quarter valued at $1,342,000. Finally, Northern Trust Corp bought a new position in shares of United Community Banks in the 4th quarter valued at $45,527,000. Institutional investors own 82.29% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on UCB. Piper Sandler lifted their price target on United Community Banks from $32.00 to $35.00 and gave the company a "neutral" rating in a research note on Thursday, January 23rd. DA Davidson lowered their price objective on United Community Banks from $38.00 to $33.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. 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. Keefe, Bruyette & Woods decreased their target price on 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. Finally, Hovde Group raised United Community Banks from a "market perform" rating to an "outperform" rating and decreased their target price for the company from $32.00 to $31.00 in a research report on Monday, April 7th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $33.14.

Insider Activity

In related news, Director Sally Pope Davis bought 1,800 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were purchased at an average price of $28.19 per share, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.43% of the stock is currently owned by corporate insiders.

United Community Banks Stock Up 0.8%

UCB traded up $0.22 during midday trading on Thursday, reaching $28.61. 635,157 shares of the company were exchanged, compared to its average volume of 664,750. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.78 and a current ratio of 0.78. The company's fifty day moving average price is $27.19 and its 200 day moving average price is $30.53. The company has a market cap of $3.42 billion, a price-to-earnings ratio of 14.02 and a beta of 0.75. United Community Banks, Inc. has a one year low of $22.93 and a one year high of $35.38.

United Community Banks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Sunday, June 15th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend is Friday, June 13th. United Community Banks's dividend payout ratio is presently 45.50%.

About United Community Banks

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.