262,808 Shares in United Community Banks, Inc. (NASDAQ:UCB) Acquired by ProShare Advisors LLC

ProShare Advisors LLC acquired a new stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 262,808 shares of the company's stock, valued at approximately $8,491,000. ProShare Advisors LLC owned about 0.22% of United Community Banks at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in UCB. Farther Finance Advisors LLC acquired a new stake in shares of United Community Banks in the 4th quarter valued at about $80,000. Great Lakes Advisors LLC bought a new stake in United Community Banks in the fourth quarter valued at about $3,050,000. Swiss National Bank acquired a new stake in United Community Banks during the fourth quarter valued at approximately $7,573,000. Commonwealth Equity Services LLC bought a new position in United Community Banks during the 4th quarter worth approximately $273,000. Finally, Natixis Advisors LLC bought a new position in United Community Banks during the 4th quarter worth approximately $498,000. 82.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. DA Davidson decreased their price objective on shares of United Community Banks from $38.00 to $33.00 and set a "buy" rating for the company in a 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 report on Monday, April 7th. Stephens reaffirmed an "overweight" rating and set a $36.00 price objective on shares of United Community Banks in a research report on Wednesday, April 23rd. Keefe, Bruyette & Woods cut 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 report on Wednesday, April 30th. Finally, Piper Sandler lifted their target price on United Community Banks from $32.00 to $35.00 and gave the company a "neutral" rating in a research note on Thursday, January 23rd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $33.14.

United Community Banks Stock Performance

Shares of United Community Banks stock traded down $0.45 during trading on Friday, hitting $28.15. 140,074 shares of the stock were exchanged, compared to its average volume of 662,177. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.78 and a current ratio of 0.78. United Community Banks, Inc. has a 12 month low of $22.93 and a 12 month high of $35.38. The stock's fifty day moving average is $27.19 and its 200 day moving average is $30.53. The stock has a market cap of $3.36 billion, a PE ratio of 13.82 and a beta of 0.75.

United Community Banks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Sunday, June 15th will be issued 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 3.41%. United Community Banks's dividend payout ratio (DPR) is presently 45.50%.

Insider Activity

In other United Community Banks news, Director Sally Pope Davis purchased 1,800 shares of the stock in a transaction dated Tuesday, March 11th. The shares were bought at an average cost of $28.19 per share, with a total value of $50,742.00. Following the completion of the acquisition, the director now owns 3,264 shares of the company's stock, valued at approximately $92,012.16. This trade represents a 122.95% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.43% of the company's stock.

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.