111,039 Shares in United Community Banks, Inc. (NASDAQ:UCB) Purchased by Rafferty Asset Management LLC

Rafferty Asset Management LLC purchased a new position in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 111,039 shares of the company's stock, valued at approximately $3,588,000. Rafferty Asset Management LLC owned about 0.09% of United Community Banks as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Nomura Asset Management Co. Ltd. acquired a new position in shares of United Community Banks during the 4th quarter worth $31,000. Quadrant Capital Group LLC acquired a new position in shares of United Community Banks during the 4th quarter worth $45,000. Tower Research Capital LLC TRC acquired a new position in shares of United Community Banks during the 4th quarter worth $59,000. Farther Finance Advisors LLC bought a new stake in shares of United Community Banks during the 4th quarter worth $80,000. Finally, Sterling Capital Management LLC bought a new stake in shares of United Community Banks during the 4th quarter worth $124,000. Institutional investors and hedge funds own 82.29% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on UCB shares. Keefe, Bruyette & Woods decreased their price objective on shares of 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. 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 objective for the stock from $32.00 to $31.00 in a report on Monday, April 7th. Finally, Stephens reaffirmed an "overweight" rating and set a $36.00 price objective on shares of United Community Banks in a report on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.14.

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 dated Tuesday, March 11th. The stock was bought at an average cost of $28.19 per share, with a total value of $50,742.00. Following the acquisition, the director now owns 3,264 shares of the company's stock, valued at approximately $92,012.16. The trade was a 122.95% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.43% of the company's stock.

United Community Banks Stock Performance

United Community Banks stock traded down $0.27 during mid-day trading on Friday, reaching $28.34. The company had a trading volume of 603,817 shares, compared to its average volume of 664,447. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.08. United Community Banks, Inc. has a 52 week low of $22.93 and a 52 week high of $35.38. The company has a 50 day moving average of $27.18 and a 200-day moving average of $30.52. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 13.89 and a beta of 0.75.

United Community Banks Announces Dividend

The business also recently declared 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. This represents a $0.96 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend is Friday, June 13th. United Community Banks's dividend payout ratio (DPR) is presently 45.50%.

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.