Janus Henderson Group PLC Makes New Investment in United Community Banks, Inc. (NASDAQ:UCB)

Janus Henderson Group PLC acquired a new position in United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 56,402 shares of the company's stock, valued at approximately $1,823,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of Montreal Can acquired a new position in United Community Banks in the fourth quarter worth $508,000. Legal & General Group Plc acquired a new position in United Community Banks in the fourth quarter worth $10,686,000. Northern Trust Corp acquired a new position in United Community Banks in the fourth quarter worth $45,527,000. Swiss National Bank acquired a new position in United Community Banks in the fourth quarter worth $7,573,000. Finally, Corebridge Financial Inc. acquired a new position in United Community Banks in the fourth quarter worth $2,057,000. Institutional investors and hedge funds own 82.29% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on UCB shares. 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 report on Wednesday, April 30th. Stephens reissued an "overweight" rating and set a $36.00 price target on shares of United Community Banks in a report on Wednesday, April 23rd. Hovde Group raised shares of United Community Banks from a "market perform" rating to an "outperform" rating and reduced their price target for the company from $32.00 to $31.00 in a report on Monday, April 7th. Finally, DA Davidson reduced their price target on shares of United Community Banks from $38.00 to $33.00 and set a "buy" rating for the company in a report 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 MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $33.14.

Insider Buying and Selling

In related news, Director Sally Pope Davis acquired 1,800 shares of United Community Banks stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average price 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.43% of the company's stock.

United Community Banks Price Performance

UCB stock traded down $0.27 during trading on Friday, hitting $28.34. The company had a trading volume of 603,817 shares, compared to its average volume of 664,447. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 13.89 and a beta of 0.75. The business has a 50 day moving average of $27.18 and a 200 day moving average of $30.52. United Community Banks, Inc. has a fifty-two week low of $22.93 and a fifty-two week high of $35.38. 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 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 $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.39%. The ex-dividend date is Friday, June 13th. United Community Banks's payout ratio is currently 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.