Jane Street Group LLC Purchases New Position in United Community Banks, Inc. (NASDAQ:UCB)

Jane Street Group LLC acquired a new stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 54,839 shares of the company's stock, valued at approximately $1,772,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of UCB. Farther Finance Advisors LLC purchased a new stake in United Community Banks in the 4th quarter valued at about $80,000. Great Lakes Advisors LLC purchased a new stake in United Community Banks in the 4th quarter valued at about $3,050,000. Swiss National Bank purchased a new stake in United Community Banks in the 4th quarter valued at about $7,573,000. Commonwealth Equity Services LLC purchased a new stake in United Community Banks in the 4th quarter valued at about $273,000. Finally, Natixis Advisors LLC purchased a new stake in United Community Banks in the 4th quarter valued at about $498,000. 82.29% of the stock is currently owned by hedge funds and other institutional investors.

United Community Banks Stock Down 0.9%

Shares of United Community Banks stock traded down $0.27 on Friday, reaching $28.34. 603,817 shares of the company were exchanged, compared to its average volume of 664,447. United Community Banks, Inc. has a 1-year low of $22.93 and a 1-year high of $35.38. The company has a market cap of $3.38 billion, a P/E ratio of 13.89 and a beta of 0.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.78 and a quick ratio of 0.78. The stock's 50 day moving average price is $27.18 and its 200-day moving average price is $30.53.

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 given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date is Friday, June 13th. United Community Banks's dividend payout ratio is presently 45.50%.

Analyst Ratings Changes

UCB has been the topic of a number of recent research reports. Piper Sandler boosted their price target on shares of United Community Banks from $32.00 to $35.00 and gave the stock a "neutral" rating in a research note on Thursday, January 23rd. DA Davidson cut their price target on shares of United Community Banks from $38.00 to $33.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Keefe, Bruyette & Woods cut their price target on shares of 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. Hovde Group upgraded shares of United Community Banks from a "market perform" rating to an "outperform" rating and cut their price target for the stock from $32.00 to $31.00 in a research note on Monday, April 7th. Finally, Stephens reiterated an "overweight" rating and set a $36.00 price target on shares of United Community Banks in a research note on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $33.14.

Insider Activity at United Community Banks

In other United Community Banks news, Director Sally Pope Davis purchased 1,800 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $28.19 per share, with a total value of $50,742.00. Following the completion of the acquisition, the director now directly owns 3,264 shares of the company's stock, valued at $92,012.16. This trade represents a 122.95% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.43% of the stock is currently owned by corporate insiders.

United Community Banks 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.