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

Man Group plc bought a new position in United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 76,952 shares of the company's stock, valued at approximately $2,486,000. Man Group plc owned about 0.06% of United Community Banks at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of UCB. Vanguard Group Inc. bought a new stake in shares of United Community Banks in the 4th quarter worth approximately $450,141,000. FMR LLC purchased a new stake in United Community Banks in the fourth quarter worth $310,166,000. Dimensional Fund Advisors LP bought a new stake in United Community Banks in the fourth quarter valued at $195,766,000. Capital Research Global Investors purchased a new position in United Community Banks during the 4th quarter valued at $148,763,000. Finally, Earnest Partners LLC purchased a new position in United Community Banks during the 4th quarter valued at $113,536,000. Hedge funds and other institutional investors own 82.29% of the company's stock.

United Community Banks Stock Performance

NASDAQ:UCB traded down $0.25 during trading hours on Wednesday, reaching $28.94. The company had a trading volume of 47,986 shares, compared to its average volume of 660,652. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of 14.18 and a beta of 0.75. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.08. The firm's 50 day moving average price is $27.19 and its 200-day moving average price is $30.48. United Community Banks, Inc. has a 52 week low of $22.93 and a 52 week high of $35.38.

United Community Banks Dividend Announcement

The company 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 dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Friday, June 13th. United Community Banks's dividend payout ratio (DPR) is presently 45.50%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Stephens reaffirmed an "overweight" rating and issued a $36.00 target price on shares of United Community Banks in a research report on Wednesday, April 23rd. Keefe, Bruyette & Woods decreased their target price on 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. DA Davidson lowered their price objective on 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. Finally, Hovde Group upgraded United Community Banks from a "market perform" rating to an "outperform" rating and decreased their price target for the stock from $32.00 to $31.00 in a research note on Monday, April 7th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, United Community Banks presently has an average rating of "Moderate Buy" and an average price target of $33.14.

Insider Buying and Selling at United Community Banks

In other United Community Banks news, Director Sally Pope Davis bought 1,800 shares of United Community Banks stock in a transaction on Tuesday, March 11th. The stock was acquired 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 owns 3,264 shares in the company, valued at approximately $92,012.16. This represents a 122.95% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.43% of the stock is owned by corporate insiders.

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.