ProShare Advisors LLC Acquires New Shares in United Community Banks, Inc. (NASDAQ:UCB)

ProShare Advisors LLC purchased a new stake in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 262,808 shares of the company's stock, valued at approximately $8,491,000. ProShare Advisors LLC owned approximately 0.22% of United Community Banks as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. purchased a new position in United Community Banks in the 4th quarter worth approximately $31,000. Quadrant Capital Group LLC bought a new position in shares of United Community Banks in the fourth quarter worth approximately $45,000. Tower Research Capital LLC TRC purchased a new position in shares of United Community Banks in the fourth quarter worth $59,000. Farther Finance Advisors LLC bought a new stake in United Community Banks during the 4th quarter valued at $80,000. Finally, Sterling Capital Management LLC purchased a new stake in United Community Banks during the 4th quarter valued at $124,000. Institutional investors own 82.29% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on UCB shares. Piper Sandler boosted their price objective on shares of United Community Banks from $32.00 to $35.00 and gave the company a "neutral" rating in a research report on Thursday, January 23rd. Stephens restated an "overweight" rating and set a $36.00 price target on shares of United Community Banks in a report on Wednesday, April 23rd. Hovde Group raised United Community Banks from a "market perform" rating to an "outperform" rating and lowered their price target for the company from $32.00 to $31.00 in a research report on Monday, April 7th. DA Davidson cut their price objective on United Community Banks from $38.00 to $33.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Finally, Keefe, Bruyette & Woods decreased their target price 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 equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $33.14.

Insider Buying and Selling at United Community Banks

In other United Community Banks news, Director Sally Pope Davis bought 1,800 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was acquired at an average price of $28.19 per share, with a total value of $50,742.00. Following the completion of the purchase, 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.43% of the company's stock.

United Community Banks Stock Down 3.6%

Shares of UCB stock traded down $1.05 during midday trading on Wednesday, reaching $28.39. 348,137 shares of the stock were exchanged, compared to its average volume of 664,898. United Community Banks, Inc. has a 1 year low of $22.93 and a 1 year high of $35.38. The firm has a market cap of $3.39 billion, a PE ratio of 13.92 and a beta of 0.75. The company's 50 day moving average is $27.19 and its two-hundred day moving average is $30.53. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.08.

United Community Banks Dividend Announcement

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 $0.24 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a yield of 3.38%. United Community Banks's dividend payout ratio (DPR) is 45.50%.

About United Community Banks

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.