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

Nuveen Asset Management LLC purchased a new stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 322,345 shares of the company's stock, valued at approximately $10,415,000. Nuveen Asset Management LLC owned about 0.27% of United Community Banks at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of UCB. Millennium Management LLC bought a new position in shares of United Community Banks during the 4th quarter worth $15,689,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in United Community Banks during the 4th quarter worth about $2,200,000. Janus Henderson Group PLC purchased a new position in United Community Banks during the 4th quarter valued at about $1,823,000. Focus Partners Wealth bought a new stake in shares of United Community Banks in the 4th quarter valued at about $308,000. Finally, Ensign Peak Advisors Inc purchased a new stake in shares of United Community Banks in the 4th quarter worth approximately $1,363,000. Hedge funds and other institutional investors own 82.29% of the company's stock.

Insider Transactions at United Community Banks

In other United Community Banks news, Director Sally Pope Davis bought 1,800 shares of United Community Banks stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average price of $28.19 per share, with a total value of $50,742.00. Following the completion of the acquisition, the director now directly owns 3,264 shares in the company, valued at approximately $92,012.16. This trade represents a 122.95% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.43% of the company's stock.

United Community Banks Stock Down 0.6%

Shares of UCB stock traded down $0.17 during trading hours on Friday, reaching $28.77. 586,519 shares of the company's stock were exchanged, compared to its average volume of 661,484. United Community Banks, Inc. has a 1 year low of $22.93 and a 1 year high of $35.38. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.08. The stock has a market cap of $3.50 billion, a PE ratio of 14.10 and a beta of 0.75. The stock's fifty day moving average price is $27.20 and its two-hundred day moving average price is $30.39.

United Community Banks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders 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 dividend on an annualized basis and a dividend yield of 3.34%. United Community Banks's dividend payout ratio is currently 45.50%.

Wall Street Analyst Weigh In

UCB has been the topic of several research reports. DA Davidson cut their price objective 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. Keefe, Bruyette & Woods reduced their price target 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. Stephens restated an "overweight" rating and set a $36.00 price objective on shares of United Community Banks in a research note on Wednesday, April 23rd. Finally, Hovde Group upgraded United Community Banks from a "market perform" rating to an "outperform" rating and cut their target price for the company from $32.00 to $31.00 in a research note on Monday, April 7th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $33.14.

United Community Banks Company Profile

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.