Oppenheimer Asset Management Inc. Invests $1.60 Million in United Community Banks, Inc. (NASDAQ:UCB)

Oppenheimer Asset Management Inc. acquired a new position in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 56,816 shares of the company's stock, valued at approximately $1,598,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Nomura Asset Management Co. Ltd. bought a new stake in United Community Banks in the fourth quarter valued at about $31,000. Public Employees Retirement System of Ohio bought a new stake in United Community Banks in the fourth quarter valued at about $42,000. Versant Capital Management Inc bought a new stake in United Community Banks in the first quarter valued at about $37,000. Quadrant Capital Group LLC bought a new stake in United Community Banks in the fourth quarter valued at about $45,000. Finally, MassMutual Private Wealth & Trust FSB bought a new stake in United Community Banks in the first quarter valued at about $45,000. Institutional investors own 82.29% of the company's stock.

Analysts Set New Price Targets

UCB has been the topic of a number of analyst reports. Hovde Group raised shares of United Community Banks from a "market perform" rating to an "outperform" rating and lowered their target price for the company from $32.00 to $31.00 in a research note on Monday, April 7th. Keefe, Bruyette & Woods lowered 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 research note on Wednesday, April 30th. DA Davidson decreased 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 research note on Wednesday, April 23rd. Finally, Stephens reaffirmed an "overweight" rating and set a $36.00 price objective on shares of United Community Banks in a research note on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $33.14.

United Community Banks Price Performance

Shares of United Community Banks stock opened at $29.97 on Friday. 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 capitalization of $3.64 billion, a price-to-earnings ratio of 14.69 and a beta of 0.78. United Community Banks, Inc. has a 1-year low of $22.93 and a 1-year high of $35.38. The firm's 50-day moving average price is $28.50 and its two-hundred day moving average price is $29.76.

United Community Banks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Sunday, June 15th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.20%. United Community Banks's payout ratio is 45.50%.

United Community Banks 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.

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