O Dell Group LLC purchased a new stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,280 shares of the company's stock, valued at approximately $345,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in UCB. Blue Trust Inc. acquired a new position in shares of United Community Banks during the 1st quarter valued at about $135,000. State of Alaska Department of Revenue purchased a new position in United Community Banks during the first quarter worth about $1,860,000. Mayfair Advisory Group LLC acquired a new position in United Community Banks in the 1st quarter valued at about $931,000. Wagner Wealth Management LLC acquired a new position in United Community Banks in the 1st quarter valued at about $288,000. Finally, QRG Capital Management Inc. purchased a new stake in shares of United Community Banks in the 1st quarter valued at approximately $226,000. Institutional investors and hedge funds own 82.29% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have recently commented on UCB. Hovde Group raised shares of United Community Banks from a "market perform" rating to an "outperform" rating and reduced their price target for the company from $32.00 to $31.00 in a research report on Monday, April 7th. Stephens reissued an "overweight" rating and set a $36.00 target price on shares of United Community Banks in a research note on Wednesday, April 23rd. DA Davidson decreased their price target on United Community Banks from $38.00 to $33.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, Keefe, Bruyette & Woods lowered 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 research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $33.14.
Get Our Latest Analysis on United Community Banks
United Community Banks Stock Up 0.9%
NASDAQ:UCB opened at $27.77 on Friday. United Community Banks, Inc. has a 52 week low of $22.93 and a 52 week high of $35.38. The stock's fifty day moving average is $27.93 and its two-hundred day moving average is $29.95. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of 13.61 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.
United Community Banks Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors 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 3.46%. United Community Banks's dividend payout ratio is presently 45.50%.
About United Community Banks
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding UCB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Community Banks, Inc. (NASDAQ:UCB - Free Report).
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