Quantinno Capital Management LP purchased a new position in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 98,761 shares of the company's stock, valued at approximately $3,191,000. Quantinno Capital Management LP owned approximately 0.08% of United Community Banks as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of Montreal Can acquired a new position in shares of United Community Banks during the fourth quarter worth approximately $508,000. Legal & General Group Plc acquired a new position in shares of United Community Banks during the fourth quarter worth approximately $10,686,000. Northern Trust Corp acquired a new position in shares of United Community Banks during the fourth quarter worth approximately $45,527,000. Swiss National Bank acquired a new position in shares of United Community Banks during the fourth quarter worth approximately $7,573,000. Finally, Corebridge Financial Inc. acquired a new position in shares of United Community Banks during the fourth quarter worth approximately $2,057,000. 82.29% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
UCB has been the topic of a number of research reports. Keefe, Bruyette & Woods lowered their target price on United Community Banks from $35.00 to $32.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 30th. DA Davidson lowered their target price 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. Piper Sandler upped their target price on United Community Banks from $32.00 to $35.00 and gave the stock a "neutral" rating in a research report on Thursday, January 23rd. Hovde Group raised United Community Banks from a "market perform" rating to an "outperform" rating and lowered their target price for the stock 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 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 MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.14.
View Our Latest Report on United Community Banks
United Community Banks Trading Down 0.5%
NASDAQ UCB opened at $29.53 on Tuesday. The firm has a market capitalization of $3.53 billion, a P/E ratio of 14.48 and a beta of 0.75. The business has a fifty day simple moving average of $27.16 and a 200 day simple moving average of $30.55. United Community Banks, Inc. has a 12 month low of $22.93 and a 12 month high of $35.38. 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 Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Sunday, June 15th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a yield of 3.25%. United Community Banks's dividend payout ratio (DPR) is presently 45.50%.
Insider Buying and Selling at United Community Banks
In other United Community Banks news, Director Sally Pope Davis acquired 1,800 shares of United Community Banks stock in a transaction on Tuesday, March 11th. The stock was purchased at an average price of $28.19 per share, for a total transaction of $50,742.00. Following the purchase, the director now directly owns 3,264 shares of the company's stock, valued at $92,012.16. This trade represents a 122.95% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.43% of the company's stock.
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.
See Also
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).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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