State of Alaska Department of Revenue Invests $1.86 Million in United Community Banks, Inc. (NASDAQ:UCB)

State of Alaska Department of Revenue bought a new position in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 66,139 shares of the company's stock, valued at approximately $1,860,000. State of Alaska Department of Revenue owned approximately 0.06% of United Community Banks as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the company. Bank of Montreal Can acquired a new stake in United Community Banks during the 4th quarter valued at $508,000. SG Americas Securities LLC purchased a new stake in shares of United Community Banks in the first quarter valued at $665,000. Mayfair Advisory Group LLC acquired a new stake in shares of United Community Banks during the first quarter valued at $931,000. Patriot Investment Management Group Inc. purchased a new stake in United Community Banks during the 1st quarter worth about $502,000. Finally, Yousif Capital Management LLC purchased a new stake in United Community Banks during the 1st quarter worth about $1,250,000. Institutional investors and hedge funds own 82.29% of the company's stock.

United Community Banks Trading Up 0.2%

UCB stock traded up $0.07 during trading on Friday, reaching $29.97. 1,427,310 shares of the stock traded hands, compared to its average volume of 668,312. The firm has a market capitalization of $3.64 billion, a PE ratio of 14.69 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.78 and a quick ratio of 0.78. The business's 50 day moving average price is $28.39 and its 200-day moving average price is $29.78. United Community Banks, Inc. has a 52-week low of $22.93 and a 52-week high of $35.38.

United Community Banks Announces Dividend

The company also recently announced 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. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Friday, June 13th. United Community Banks's payout ratio is currently 45.50%.

Analyst Ratings Changes

Several research firms have issued reports on UCB. Keefe, Bruyette & Woods decreased their price target on shares of United Community Banks from $35.00 to $32.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 30th. Hovde Group upgraded shares of United Community Banks from a "market perform" rating to an "outperform" rating and decreased their target price for the stock from $32.00 to $31.00 in a research report on Monday, April 7th. DA Davidson lowered their target price 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. Finally, Stephens reissued an "overweight" rating and set a $36.00 price target on shares of United Community Banks in a research note on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus 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.