17,858 Shares in United Community Banks, Inc. (NASDAQ:UCB) Purchased by Patriot Investment Management Group Inc.

Patriot Investment Management Group Inc. acquired a new stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 17,858 shares of the company's stock, valued at approximately $502,000.

Several other hedge funds also recently modified their holdings of the stock. Handelsbanken Fonder AB bought a new stake in shares of United Community Banks in the 1st quarter valued at $727,000. SG Americas Securities LLC acquired a new stake in United Community Banks in the 1st quarter valued at $665,000. GAMMA Investing LLC acquired a new stake in United Community Banks in the 1st quarter valued at $132,000. Wealthcare Advisory Partners LLC acquired a new stake in United Community Banks in the 1st quarter valued at $250,000. Finally, Yousif Capital Management LLC acquired a new stake in United Community Banks in the 1st quarter valued at $1,250,000. Institutional investors own 82.29% of the company's stock.

United Community Banks Stock Down 3.2%

UCB traded down $0.95 during mid-day trading on Friday, reaching $28.16. 869,740 shares of the stock were exchanged, compared to its average volume of 661,796. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a market capitalization of $3.42 billion, a PE ratio of 13.81 and a beta of 0.78. The company has a 50 day moving average price of $27.67 and a two-hundred day moving average price of $30.09. United Community Banks, Inc. has a 1 year low of $22.93 and a 1 year high of $35.38.

United Community Banks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Sunday, June 15th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Friday, June 13th. United Community Banks's dividend payout ratio is 45.50%.

Analyst Ratings Changes

UCB has been the subject of several research reports. DA Davidson reduced their price target on shares of United Community Banks from $38.00 to $33.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Keefe, Bruyette & Woods reduced their price target on shares of 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. 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. Finally, Stephens reissued an "overweight" rating and issued a $36.00 price target on shares of United Community Banks in a research report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average 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.