Handelsbanken Fonder AB Buys Shares of 25,839 United Community Banks, Inc. (NASDAQ:UCB)

Handelsbanken Fonder AB bought a new stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 25,839 shares of the company's stock, valued at approximately $727,000.

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

Analyst Ratings Changes

A number of research firms have recently weighed in on UCB. Hovde Group raised United Community Banks from a "market perform" rating to an "outperform" rating and cut their price target for the company from $32.00 to $31.00 in a research note on Monday, April 7th. Keefe, Bruyette & Woods cut their target price on United Community Banks from $35.00 to $32.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 30th. DA Davidson decreased their target price 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. Finally, Stephens reiterated an "overweight" rating and issued a $36.00 price target on shares of United Community Banks in a research report on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $33.14.

United Community Banks Stock Down 1.2%

NASDAQ UCB traded down $0.34 during trading hours on Monday, reaching $27.89. 749,030 shares of the company's stock were exchanged, compared to its average volume of 662,198. 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 has a market capitalization of $3.39 billion, a price-to-earnings ratio of 13.67 and a beta of 0.78. The company's 50-day moving average is $27.67 and its two-hundred day moving average is $30.06. United Community Banks, Inc. has a one year low of $22.93 and a one year high of $35.38.

United Community Banks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Sunday, June 15th will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.44%. 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.