DMC Group LLC Makes New $3.78 Million Investment in United Community Banks, Inc. (NASDAQ:UCB)

DMC Group LLC purchased a new position in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 134,343 shares of the company's stock, valued at approximately $3,779,000. United Community Banks comprises approximately 3.1% of DMC Group LLC's holdings, making the stock its 3rd biggest position. DMC Group LLC owned about 0.11% of United Community Banks at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Nomura Asset Management Co. Ltd. acquired a new stake in United Community Banks in the fourth quarter valued at about $31,000. Public Employees Retirement System of Ohio acquired a new position in shares of United Community Banks during the 4th quarter worth approximately $42,000. Versant Capital Management Inc acquired a new position in shares of United Community Banks during the 1st quarter worth approximately $37,000. Quadrant Capital Group LLC acquired a new position in shares of United Community Banks during the 4th quarter worth approximately $45,000. Finally, MassMutual Private Wealth & Trust FSB purchased a new stake in United Community Banks in the 1st quarter worth approximately $45,000. Hedge funds and other institutional investors own 82.29% of the company's stock.

United Community Banks Stock Performance

Shares of NASDAQ:UCB traded up $0.21 during trading on Thursday, reaching $31.69. 506,059 shares of the company's stock traded hands, compared to its average volume of 664,569. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.78 and a quick ratio 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 50 day moving average of $29.27 and a 200-day moving average of $29.68. The stock has a market capitalization of $3.85 billion, a P/E ratio of 15.53 and a beta of 0.78.

United Community Banks Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Sunday, June 15th were given a dividend of $0.24 per share. 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 presently 45.50%.

Analyst Ratings Changes

Several research firms have commented on UCB. Raymond James Financial reaffirmed a "market perform" rating on shares of United Community Banks in a research note on Tuesday. Stephens reaffirmed an "overweight" rating and set a $36.00 price target on shares of United Community Banks in a research report on Wednesday, April 23rd. Keefe, Bruyette & Woods cut their price objective on shares of United Community Banks from $35.00 to $32.00 and set a "market perform" rating on the stock in a report on Wednesday, April 30th. DA Davidson cut their price objective on shares of United Community Banks from $38.00 to $33.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Finally, 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. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target 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.