Rhumbline Advisers Makes New $9.82 Million Investment in United Community Banks, Inc. (NASDAQ:UCB)

Rhumbline Advisers acquired a new stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 348,967 shares of the company's stock, valued at approximately $9,816,000. Rhumbline Advisers owned about 0.29% of United Community Banks at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. purchased a new stake in United Community Banks in the fourth quarter valued at approximately $31,000. Versant Capital Management Inc acquired a new stake in United Community Banks in the first quarter valued at $37,000. Public Employees Retirement System of Ohio purchased a new position in shares of United Community Banks during the 4th quarter worth approximately $42,000. Quadrant Capital Group LLC purchased a new position in United Community Banks during the fourth quarter worth $45,000. Finally, MassMutual Private Wealth & Trust FSB acquired a new position in shares of United Community Banks in the first quarter valued at approximately $45,000. 82.29% of the stock is owned by hedge funds and other institutional investors.

United Community Banks Stock Down 3.2%

NASDAQ UCB traded down $0.95 during mid-day trading on Friday, reaching $28.16. 869,740 shares of the company's stock traded hands, compared to its average volume of 661,795. 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, Inc. has a 1-year low of $22.93 and a 1-year high of $35.38. The company has a fifty day simple moving average of $27.58 and a 200-day simple moving average of $30.16. The company has a market cap of $3.42 billion, a price-to-earnings ratio of 13.81 and a beta of 0.78.

United Community Banks Dividend Announcement

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

Analyst Upgrades and Downgrades

UCB has been the subject of a number of research analyst reports. DA Davidson dropped 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 research note on Wednesday, April 23rd. Keefe, Bruyette & Woods dropped their price objective 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. Stephens reiterated an "overweight" rating and issued a $36.00 target price on shares of United Community Banks in a report on Wednesday, April 23rd. Finally, Hovde Group upgraded United Community Banks from a "market perform" rating to an "outperform" rating and dropped their price target for the stock from $32.00 to $31.00 in a research note on Monday, April 7th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $33.14.

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.