GAMMA Investing LLC Acquires Shares of 132,042 United Community Banks, Inc. (NASDAQ:UCB)

GAMMA Investing LLC purchased a new position in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 132,042 shares of the company's stock, valued at approximately $3,714,000. GAMMA Investing LLC owned approximately 0.11% of United Community Banks as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Stephens reiterated an "overweight" rating and issued a $36.00 price target on shares of United Community Banks in a research note on Wednesday, April 23rd. Hovde Group raised United Community Banks from a "market perform" rating to an "outperform" rating and dropped their target price for the stock from $32.00 to $31.00 in a research report on Monday, April 7th. 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 for the company in a research report on Wednesday, April 30th. Finally, DA Davidson dropped 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. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, United Community Banks presently has an average rating of "Moderate Buy" and an average price target of $33.14.

United Community Banks Price Performance

Shares of UCB stock traded up $0.07 during trading hours on Thursday, hitting $29.24. The stock had a trading volume of 528,647 shares, compared to its average volume of 660,825. 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 one year low of $22.93 and a one year high of $35.38. The stock's 50-day moving average price is $27.58 and its two-hundred day moving average price is $30.16. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of 14.33 and a beta of 0.78.

United Community Banks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Sunday, June 15th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Friday, June 13th. United Community Banks's payout ratio is 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.