Guggenheim Capital LLC Makes New $2.30 Million Investment in United Community Banks, Inc. (NASDAQ:UCB)

Guggenheim Capital LLC acquired 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 SEC. The institutional investor acquired 71,245 shares of the company's stock, valued at approximately $2,302,000. Guggenheim Capital LLC owned about 0.06% of United Community Banks as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Nomura Asset Management Co. Ltd. bought a new stake in United Community Banks in the fourth quarter worth about $31,000. Quadrant Capital Group LLC bought a new position in United Community Banks during the fourth quarter valued at about $45,000. Farther Finance Advisors LLC acquired a new position in United Community Banks in the fourth quarter worth about $80,000. Sterling Capital Management LLC bought a new position in United Community Banks during the 4th quarter valued at about $124,000. Finally, Lee Danner & Bass Inc. bought a new stake in United Community Banks during the 4th quarter worth about $174,000. Institutional investors and hedge funds own 82.29% of the company's stock.

Insider Activity at United Community Banks

In other news, CEO H Lynn Harton sold 31,679 shares of the company's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $33.84, for a total value of $1,072,017.36. Following the sale, the chief executive officer now directly owns 112,444 shares in the company, valued at $3,805,104.96. This represents a 21.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sally Pope Davis purchased 1,800 shares of the firm's stock in a transaction on 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 completion of the purchase, the director now owns 3,264 shares in the company, valued at $92,012.16. The trade was a 122.95 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.54% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on UCB. Piper Sandler increased their target price on United Community Banks from $32.00 to $35.00 and gave the stock a "neutral" rating in a research note on Thursday, January 23rd. DA Davidson lowered 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. Stephens restated an "overweight" rating and set a $36.00 price target on shares of United Community Banks in a report on Wednesday. Finally, Hovde Group upgraded shares of United Community Banks from a "market perform" rating to an "outperform" rating and decreased their price objective for the company from $32.00 to $31.00 in a research note on Monday, April 7th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $33.33.

United Community Banks Price Performance

UCB traded down $0.13 during midday trading on Friday, hitting $27.19. 193,165 shares of the company traded hands, compared to its average volume of 792,874. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 13.33 and a beta of 0.80. 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 52-week low of $22.93 and a 52-week high of $35.38. The business has a 50 day simple moving average of $27.96 and a two-hundred day simple moving average of $30.51.

United Community Banks Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend was Friday, March 14th. United Community Banks's dividend payout ratio is presently 45.50%.

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.