Invesco Ltd. Purchases New Position in United Community Banks, Inc. (NASDAQ:UCB)

Invesco Ltd. bought a new position in United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,453,431 shares of the company's stock, valued at approximately $46,960,000. Invesco Ltd. owned 1.22% of United Community Banks at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. bought a new position in United Community Banks during the fourth quarter worth about $450,141,000. FMR LLC acquired a new stake in United Community Banks during the fourth quarter worth approximately $310,166,000. Geode Capital Management LLC bought a new stake in United Community Banks in the 4th quarter valued at $88,397,000. Massachusetts Financial Services Co. MA acquired a new stake in United Community Banks in the 4th quarter worth about $60,495,000. Finally, Norges Bank bought a new stake in United Community Banks during the fourth quarter worth $42,837,000. 82.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO H Lynn Harton sold 31,679 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $33.84, for a total transaction of $1,072,017.36. Following the transaction, the chief executive officer now directly owns 112,444 shares of the company's stock, valued at $3,805,104.96. This trade represents a 21.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sally Pope Davis bought 1,800 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average price of $28.19 per share, for a total transaction of $50,742.00. Following the purchase, the director now directly owns 3,264 shares in the company, valued at approximately $92,012.16. The trade was a 122.95 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.54% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on UCB. Hovde Group upgraded United Community Banks from a "market perform" rating to an "outperform" rating and decreased their price target for the company from $32.00 to $31.00 in a research note on Monday, April 7th. Piper Sandler increased their price objective on shares of United Community Banks from $32.00 to $35.00 and gave the company a "neutral" rating in a research note on Thursday, January 23rd.

United Community Banks Trading Down 2.7 %

Shares of NASDAQ:UCB traded down $0.68 during mid-day trading on Monday, reaching $24.12. 23,463 shares of the company's stock were exchanged, compared to its average volume of 665,206. 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 twelve month low of $22.93 and a twelve month high of $35.38. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 11.85 and a beta of 0.80. The business's fifty day moving average price is $28.54 and its 200-day moving average price is $30.60.

United Community Banks Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were issued a $0.24 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.96 annualized dividend and a yield of 3.98%. United Community Banks's payout ratio is 47.06%.

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.