M&T Bank Corp Makes New $926,000 Investment in United Community Banks, Inc. (NASDAQ:UCB)

M&T Bank Corp purchased a new stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 32,928 shares of the company's stock, valued at approximately $926,000.

Several other hedge funds have also modified their holdings of the business. Vanguard Group Inc. purchased a new position in United Community Banks in the 4th quarter valued at approximately $450,141,000. FMR LLC purchased a new position in United Community Banks in the 4th quarter valued at approximately $310,166,000. Dimensional Fund Advisors LP purchased a new position in United Community Banks in the 4th quarter valued at approximately $195,766,000. Capital Research Global Investors purchased a new position in United Community Banks in the 4th quarter valued at approximately $148,763,000. Finally, Earnest Partners LLC purchased a new position in United Community Banks in the 4th quarter valued at approximately $113,536,000. 82.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

UCB has been the subject of several recent research reports. 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. Hovde Group raised United Community Banks from a "market perform" rating to an "outperform" rating and dropped their price target for the stock from $32.00 to $31.00 in a research report on Monday, April 7th. Keefe, Bruyette & Woods lowered their price objective 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 for the company in a research report on Wednesday, April 23rd. Finally, Raymond James Financial reaffirmed a "market perform" rating on shares of United Community Banks in a research report on Tuesday, July 8th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $33.14.

United Community Banks Trading Down 0.2%

United Community Banks stock traded down $0.07 during midday trading on Friday, reaching $31.65. The stock had a trading volume of 282,790 shares, compared to its average volume of 661,432. United Community Banks, Inc. has a twelve month low of $22.93 and a twelve month high of $35.38. The stock has a market capitalization of $3.85 billion, a PE ratio of 15.53 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. The stock's 50-day simple moving average is $29.56 and its 200 day simple moving average is $29.64.

United Community Banks Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Sunday, June 15th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date was 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.