DMC Group LLC Purchases Shares of 134,343 United Community Banks, Inc. (NASDAQ:UCB)

DMC Group LLC purchased a new position in United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the first quarter, according to its most recent 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 makes up about 3.1% of DMC Group LLC's investment portfolio, making the stock its 3rd largest holding. DMC Group LLC owned 0.11% of United Community Banks at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of UCB. Nomura Asset Management Co. Ltd. acquired a new position in United Community Banks in the fourth quarter valued at approximately $31,000. Public Employees Retirement System of Ohio acquired a new position in United Community Banks in the fourth quarter valued at approximately $42,000. Versant Capital Management Inc acquired a new position in United Community Banks in the first quarter valued at approximately $37,000. Quadrant Capital Group LLC acquired a new position in United Community Banks in the fourth quarter valued at approximately $45,000. Finally, MassMutual Private Wealth & Trust FSB acquired a new position in United Community Banks in the first quarter valued at approximately $45,000. 82.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on UCB. Keefe, Bruyette & Woods reduced their price objective 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. DA Davidson reduced 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. 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 research report on Monday, April 7th. Raymond James Financial reiterated a "market perform" rating on shares of United Community Banks in a research report on Tuesday, July 8th. Finally, Stephens reiterated an "overweight" rating and set a $36.00 price objective on shares of United Community Banks in a research report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $33.14.

United Community Banks Price Performance

NASDAQ:UCB traded down $0.50 during midday trading on Friday, hitting $31.17. 414,056 shares of the stock were exchanged, compared to its average volume of 663,494. United Community Banks, Inc. has a one year low of $22.93 and a one year high of $35.38. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of 15.28 and a beta of 0.78. The business has a 50-day moving average price of $29.32 and a two-hundred day moving average price of $29.64. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Sunday, June 15th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.96 annualized dividend and a yield of 3.08%. United Community Banks's payout ratio is 45.50%.

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.