MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires Shares of 68,096 United Community Banks, Inc. (NASDAQ:UCB)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of 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 acquired 68,096 shares of the company's stock, valued at approximately $2,200,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.06% of United Community Banks at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. DA Davidson cut their price objective on 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. Hovde Group upgraded shares of United Community Banks from a "market perform" rating to an "outperform" rating and dropped their price objective for the stock from $32.00 to $31.00 in a report on Monday, April 7th. Stephens restated an "overweight" rating and set a $36.00 price objective on shares of United Community Banks in a report on Wednesday, April 23rd. Finally, Keefe, Bruyette & Woods cut their price target on 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. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $33.14.

Insider Activity

In related news, Director Sally Pope Davis acquired 1,800 shares of the stock in a transaction dated Tuesday, March 11th. The shares were bought 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 in the company, valued at approximately $92,012.16. This trade represents a 122.95% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.43% of the company's stock.

United Community Banks Stock Performance

United Community Banks stock traded down $0.27 during trading hours on Friday, hitting $28.34. The stock had a trading volume of 603,817 shares, compared to its average volume of 664,447. The company has a 50-day moving average of $27.18 and a two-hundred day moving average of $30.52. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.08. The company has a market cap of $3.44 billion, a PE ratio of 13.89 and a beta of 0.75. United Community Banks, Inc. has a fifty-two week low of $22.93 and a fifty-two week high of $35.38.

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 paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.96 annualized dividend and a dividend yield of 3.39%. United Community Banks's dividend 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.