Waverly Advisors LLC Invests $3.82 Million in United Community Banks, Inc. (NASDAQ:UCB)

Waverly Advisors 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 disclosure with the Securities and Exchange Commission. The fund purchased 118,206 shares of the company's stock, valued at approximately $3,819,000. Waverly Advisors LLC owned 0.10% of United Community Banks at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. acquired a new position in United Community Banks during the 4th quarter worth $31,000. Quadrant Capital Group LLC acquired a new position in United Community Banks during the 4th quarter worth $45,000. Tower Research Capital LLC TRC acquired a new position in United Community Banks during the 4th quarter worth $59,000. Farther Finance Advisors LLC acquired a new position in United Community Banks during the 4th quarter worth $80,000. Finally, State of Wyoming bought a new position in shares of United Community Banks in the 4th quarter worth about $118,000. Hedge funds and other institutional investors own 82.29% of the company's stock.

Insider Activity at United Community Banks

In other news, Director Sally Pope Davis acquired 1,800 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average cost of $28.19 per share, for a total transaction of $50,742.00. Following the transaction, the director now directly owns 3,264 shares in the company, valued at $92,012.16. This trade represents a 122.95% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.43% of the stock is currently owned by insiders.

Analyst Ratings Changes

UCB has been the topic of a number of recent research reports. Stephens restated an "overweight" rating and issued a $36.00 price target on shares of United Community Banks in a research report on Wednesday, April 23rd. Keefe, Bruyette & Woods reduced 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 report on Wednesday, April 30th. Hovde Group upgraded shares of United Community Banks from a "market perform" rating to an "outperform" rating and reduced their price target for the stock from $32.00 to $31.00 in a research report on Monday, April 7th. 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. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $33.14.

United Community Banks Stock Performance

NASDAQ:UCB traded down $0.27 during mid-day trading on Friday, hitting $28.34. The stock had a trading volume of 603,817 shares, compared to its average volume of 664,447. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of 13.89 and a beta of 0.75. The company has a 50 day simple moving average of $27.18 and a 200-day simple moving average of $30.52. United Community Banks, Inc. has a 52 week low of $22.93 and a 52 week 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Sunday, June 15th will be given a $0.24 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.96 annualized dividend and a yield of 3.39%. United Community Banks's dividend payout ratio is presently 45.50%.

About United Community Banks

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.