Man Group plc Purchases New Holdings in United Community Banks, Inc. (NASDAQ:UCB)

Man Group plc purchased a new stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 76,952 shares of the company's stock, valued at approximately $2,486,000. Man Group plc owned approximately 0.06% of United Community Banks at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bank of Montreal Can acquired a new stake in United Community Banks during the 4th quarter worth $508,000. Legal & General Group Plc acquired a new stake in United Community Banks during the 4th quarter worth $10,686,000. Northern Trust Corp acquired a new stake in United Community Banks during the 4th quarter worth $45,527,000. Swiss National Bank acquired a new stake in United Community Banks during the 4th quarter worth $7,573,000. Finally, Corebridge Financial Inc. acquired a new stake in United Community Banks during the 4th quarter worth $2,057,000. Institutional investors and hedge funds own 82.29% of the company's stock.

United Community Banks Trading Up 0.8%

UCB opened at $28.61 on Friday. The stock has a market capitalization of $3.42 billion, a P/E ratio of 14.02 and a beta of 0.75. United Community Banks, Inc. has a 12 month low of $22.93 and a 12 month high of $35.38. The firm's fifty day simple moving average is $27.19 and its 200 day simple moving average is $30.53. 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 given a $0.24 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.96 annualized dividend and a yield of 3.36%. United Community Banks's dividend payout ratio is currently 45.50%.

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 on Tuesday, March 11th. The shares were purchased at an average cost of $28.19 per share, for a total transaction of $50,742.00. Following the purchase, the director now owns 3,264 shares of the company's stock, valued at approximately $92,012.16. This represents a 122.95% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.43% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on UCB. Keefe, Bruyette & Woods lowered their target price 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 research report on Wednesday, April 23rd. DA Davidson reduced 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 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 stock from $32.00 to $31.00 in a research report on Monday, April 7th. Finally, Piper Sandler lifted 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 report on Thursday, January 23rd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $33.14.

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.

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