Wellington Management Group LLP Acquires New Shares in United Community Banks, Inc. (NASDAQ:UCB)

Wellington Management Group LLP bought a new position in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 355,683 shares of the company's stock, valued at approximately $11,492,000. Wellington Management Group LLP owned approximately 0.30% of United Community Banks as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. acquired a new stake in United Community Banks during the 4th quarter worth about $31,000. Public Employees Retirement System of Ohio acquired a new position in shares of United Community Banks in the fourth quarter worth about $42,000. Quadrant Capital Group LLC purchased a new position in shares of United Community Banks in the fourth quarter worth approximately $45,000. Tower Research Capital LLC TRC acquired a new stake in shares of United Community Banks during the fourth quarter valued at approximately $59,000. Finally, Farther Finance Advisors LLC acquired a new stake in shares of United Community Banks during the fourth quarter valued at approximately $80,000. 82.29% of the stock is currently owned by institutional investors.

United Community Banks Stock Down 0.6%

UCB traded down $0.16 on Wednesday, reaching $28.68. 668,956 shares of the company traded hands, compared to its average volume of 660,252. The company has a market cap of $3.48 billion, a price-to-earnings ratio of 14.06 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 stock's 50 day moving average price is $27.20 and its 200-day moving average price is $30.35. 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 business also recently declared 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 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Friday, June 13th. United Community Banks's dividend payout ratio is currently 45.50%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Stephens reaffirmed an "overweight" rating and issued a $36.00 price objective on shares of United Community Banks in a research note on Wednesday, April 23rd. DA Davidson reduced their target price on 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 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. Finally, Keefe, Bruyette & Woods dropped their price target on 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. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $33.14.

Insider Activity

In other news, Director Sally Pope Davis purchased 1,800 shares of United Community Banks stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost of $28.19 per share, for a total transaction of $50,742.00. Following the acquisition, the director now directly owns 3,264 shares in the company, valued at $92,012.16. This represents a 122.95% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.54% of the stock is currently owned by corporate insiders.

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.