Massachusetts Financial Services Co. MA lowered its position in United Community Banks, Inc. (NASDAQ:UCB - Free Report) by 0.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,857,060 shares of the company's stock after selling 15,258 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.55% of United Community Banks worth $52,239,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Nomura Asset Management Co. Ltd. bought a new position in United Community Banks during the 4th quarter worth about $31,000. Versant Capital Management Inc bought a new position in United Community Banks during the 1st quarter worth about $37,000. Public Employees Retirement System of Ohio bought a new position in United Community Banks during the 4th quarter worth about $42,000. Quadrant Capital Group LLC bought a new position in United Community Banks during the 4th quarter worth about $45,000. Finally, MassMutual Private Wealth & Trust FSB bought a new position in United Community Banks during the 1st quarter worth about $45,000. Hedge funds and other institutional investors own 82.29% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have commented on UCB. Hovde Group raised shares of United Community Banks from a "market perform" rating to an "outperform" rating and decreased their price target for the company from $32.00 to $31.00 in a research report on Monday, April 7th. Raymond James Financial reissued a "market perform" rating on shares of United Community Banks in a research report on Tuesday, July 8th. 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 decreased 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 research report on Wednesday, April 23rd. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of 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. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $33.14.
Read Our Latest Stock Analysis on United Community Banks
United Community Banks Stock Performance
NASDAQ UCB traded down $0.26 during mid-day trading on Monday, reaching $31.46. 627,854 shares of the stock were exchanged, compared to its average volume of 663,225. The business's 50 day moving average is $29.63 and its 200-day moving average is $29.61. 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 capitalization of $3.82 billion, a P/E ratio of 15.42 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.78 and a current ratio of 0.78.
United Community Banks Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Sunday, June 15th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a yield of 3.05%. United Community Banks's dividend payout ratio is currently 45.50%.
United Community Banks Company Profile
(
Free Report)
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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