Keel Point LLC acquired a new stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 16,218 shares of the company's stock, valued at approximately $524,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. bought a new stake in shares of United Community Banks during the fourth quarter valued at about $450,141,000. FMR LLC bought a new stake in United Community Banks during the fourth quarter worth approximately $310,166,000. Dimensional Fund Advisors LP bought a new position in United Community Banks during the 4th quarter valued at $195,766,000. Capital Research Global Investors acquired a new position in shares of United Community Banks during the 4th quarter valued at $148,763,000. Finally, Earnest Partners LLC acquired a new stake in shares of United Community Banks in the fourth quarter valued at $113,536,000. 82.29% of the stock is currently owned by institutional investors.
Insider Activity
In other United Community Banks news, Director Sally Pope Davis bought 1,800 shares of United Community Banks stock in a transaction 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 completion of the acquisition, the director now owns 3,264 shares in the company, valued at approximately $92,012.16. The trade was a 122.95 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO H Lynn Harton sold 31,679 shares of the stock in a transaction that occurred 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 of the company's stock, valued at approximately $3,805,104.96. The trade was a 21.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several equities research analysts have commented on the stock. Hovde Group upgraded shares of United Community Banks from a "market perform" rating to an "outperform" rating and dropped their price target for the stock from $32.00 to $31.00 in a research report on Monday, April 7th. Stephens reissued an "overweight" rating and set a $36.00 target price on shares of United Community Banks in a research report on Wednesday, April 23rd. Piper Sandler increased their target price 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. DA Davidson lowered 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 report on Wednesday, April 23rd. Finally, Keefe, Bruyette & Woods dropped their target price on United Community Banks from $35.00 to $32.00 and set a "market perform" rating for the company in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $33.14.
Get Our Latest Stock Report on UCB
United Community Banks Price Performance
Shares of United Community Banks stock traded up $0.16 during trading on Wednesday, reaching $28.01. The company's stock had a trading volume of 191,948 shares, compared to its average volume of 781,797. United Community Banks, Inc. has a one year low of $22.93 and a one year high of $35.38. The stock has a 50-day moving average price of $27.28 and a two-hundred day moving average price of $30.48. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $3.35 billion, a P/E ratio of 13.73 and a beta of 0.75.
United Community Banks Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 3.43%. United Community Banks's dividend payout ratio (DPR) is currently 45.50%.
United Community Banks Company Profile
(
Free Report)
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.
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