Mariner LLC Invests $1.88 Million in United Community Banks, Inc. (NASDAQ:UCB)

Mariner LLC bought a new position in 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 institutional investor bought 58,104 shares of the company's stock, valued at approximately $1,877,000.

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

Insider Buying and Selling

In related news, CEO H Lynn Harton sold 31,679 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $33.84, for a total value of $1,072,017.36. Following the completion of the transaction, the chief executive officer now directly owns 112,444 shares of the company's stock, valued at approximately $3,805,104.96. This represents a 21.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sally Pope Davis acquired 1,800 shares of United Community Banks stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average price of $28.19 per share, with a total value of $50,742.00. Following the completion of the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.54% of the company's stock.

United Community Banks Trading Down 0.3 %

Shares of UCB stock traded down $0.09 on Wednesday, hitting $27.68. The stock had a trading volume of 713,260 shares, compared to its average volume of 677,449. The firm has a market cap of $3.31 billion, a P/E ratio of 13.57 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 twelve month low of $22.93 and a twelve month high of $35.38. The company has a fifty day moving average price of $27.62 and a two-hundred day moving average price of $30.53.

United Community Banks Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors 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 3.47%. The ex-dividend date of this dividend was Friday, March 14th. United Community Banks's payout ratio is presently 45.50%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Stephens reiterated an "overweight" rating and set a $36.00 target price on shares of United Community Banks in a research report on Wednesday, April 23rd. DA Davidson dropped their target price on shares of United Community Banks from $38.00 to $33.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Hovde Group upgraded shares of United Community Banks from a "market perform" rating to an "outperform" rating and dropped their target price for the company from $32.00 to $31.00 in a research report on Monday, April 7th. Piper Sandler upped 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 report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods decreased their price target on shares of United Community Banks from $35.00 to $32.00 and set a "market perform" rating for the company in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, United Community Banks currently has an average rating of "Moderate Buy" and a consensus price target of $33.14.

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.