New York State Teachers Retirement System Invests $2.90 Million in United Community Banks, Inc. (NASDAQ:UCB)

New York State Teachers Retirement System purchased a new position in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 102,970 shares of the company's stock, valued at approximately $2,897,000. New York State Teachers Retirement System owned approximately 0.09% of United Community Banks as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in UCB. Nomura Asset Management Co. Ltd. purchased a new position in shares of United Community Banks in the fourth quarter worth $31,000. Versant Capital Management Inc bought a new stake in United Community Banks in the first quarter valued at $37,000. Public Employees Retirement System of Ohio bought a new stake in United Community Banks in the fourth quarter valued at $42,000. Quadrant Capital Group LLC bought a new stake in United Community Banks in the fourth quarter valued at $45,000. Finally, MassMutual Private Wealth & Trust FSB bought a new stake in United Community Banks in the first quarter valued at $45,000. 82.29% of the stock is owned by hedge funds and other institutional investors.

United Community Banks Stock Up 0.6%

Shares of UCB stock traded up $0.19 during mid-day trading on Tuesday, reaching $31.38. 653,665 shares of the company's stock traded hands, compared to its average volume of 665,815. United Community Banks, Inc. has a 12 month low of $22.93 and a 12 month high of $35.38. The company has a market cap of $3.81 billion, a P/E ratio of 15.38 and a beta of 0.78. 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's 50-day moving average price is $29.05 and its 200-day moving average price is $29.66.

United Community Banks Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Sunday, June 15th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend was Friday, June 13th. United Community Banks's dividend payout ratio is presently 45.50%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on UCB shares. Hovde Group upgraded shares of United Community Banks from a "market perform" rating to an "outperform" rating and cut their price target for the company from $32.00 to $31.00 in a report on Monday, April 7th. Stephens reiterated an "overweight" rating and issued a $36.00 price target on shares of United Community Banks in a report on Wednesday, April 23rd. Raymond James Financial reiterated a "market perform" rating on shares of United Community Banks in a report on Tuesday. DA Davidson cut 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 report on Wednesday, April 23rd. Finally, Keefe, Bruyette & Woods dropped their target price on shares of United Community Banks from $35.00 to $32.00 and set a "market perform" rating on the stock in a report on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, United Community Banks has an average rating of "Hold" and an average price target of $33.14.

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.