Nuveen Asset Management LLC Acquires New Position in United Community Banks, Inc. (NASDAQ:UCB)

Nuveen Asset Management LLC purchased a new stake in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 322,345 shares of the company's stock, valued at approximately $10,415,000. Nuveen Asset Management LLC owned approximately 0.27% of United Community Banks at the end of the most recent reporting period.

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

Insider Transactions at United Community Banks

In other United Community Banks news, Director Sally Pope Davis purchased 1,800 shares of United Community Banks stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average cost of $28.19 per share, for a total transaction of $50,742.00. Following the completion of the acquisition, the director now owns 3,264 shares in the company, valued at $92,012.16. This represents a 122.95% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.43% of the company's stock.

United Community Banks Trading Down 0.6%

UCB traded down $0.17 during trading on Friday, reaching $28.77. The company had a trading volume of 586,519 shares, compared to its average volume of 661,483. 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 business has a 50 day simple moving average of $27.20 and a 200-day simple moving average of $30.44. The stock has a market cap of $3.50 billion, a P/E ratio of 14.10 and a beta of 0.75. United Community Banks, Inc. has a 52 week low of $22.93 and a 52 week high of $35.38.

United Community Banks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Sunday, June 15th will be issued 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 3.34%. United Community Banks's dividend payout ratio (DPR) is presently 45.50%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on UCB. Stephens reiterated an "overweight" rating and set a $36.00 target price on shares of United Community Banks in a research report on Wednesday, April 23rd. 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 note on Monday, April 7th. Keefe, Bruyette & Woods dropped 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 note on Wednesday, April 30th. Finally, DA Davidson reduced their target price 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. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" 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.