Teacher Retirement System of Texas Purchases New Shares in United Community Banks, Inc. (NASDAQ:UCB)

Teacher Retirement System of Texas bought a new stake in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 19,148 shares of the company's stock, valued at approximately $539,000.

A number of other large investors have also recently bought and sold shares of the stock. Nomura Asset Management Co. Ltd. purchased a new stake in shares of United Community Banks during the fourth quarter worth about $31,000. Public Employees Retirement System of Ohio acquired a new position in shares of United Community Banks during the fourth quarter worth approximately $42,000. Versant Capital Management Inc acquired a new position in shares of United Community Banks during the first quarter worth approximately $37,000. Quadrant Capital Group LLC bought a new stake in United Community Banks during the fourth quarter worth approximately $45,000. Finally, MassMutual Private Wealth & Trust FSB bought a new position in shares of United Community Banks in the first quarter valued at $45,000. Institutional investors and hedge funds own 82.29% of the company's stock.

United Community Banks Stock Performance

Shares of UCB stock traded down $0.02 during midday trading on Friday, hitting $31.70. 755,244 shares of the company were exchanged, compared to its average volume of 663,374. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.78 and a current ratio of 0.78. United Community Banks, Inc. has a 52 week low of $22.93 and a 52 week high of $35.38. The firm's 50 day moving average price is $29.56 and its two-hundred day moving average price is $29.64. The firm has a market capitalization of $3.85 billion, a P/E ratio of 15.54 and a beta of 0.78.

United Community Banks Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Sunday, June 15th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend was Friday, June 13th. United Community Banks's payout ratio is 45.50%.

Analysts Set New Price Targets

Several research firms have weighed in on UCB. Hovde Group upgraded shares of United Community Banks from a "market perform" rating to an "outperform" rating and lowered their price objective for the stock from $32.00 to $31.00 in a research report on Monday, April 7th. Raymond James Financial reaffirmed a "market perform" rating on shares of United Community Banks in a research report on Tuesday, July 8th. 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. 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. Finally, DA Davidson reduced their price target on shares of 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. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $33.14.

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.