MetLife Investment Management LLC Makes New $2.33 Million Investment in United Community Banks, Inc. (NASDAQ:UCB)

MetLife Investment Management LLC purchased a new position in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 72,137 shares of the company's stock, valued at approximately $2,331,000. MetLife Investment Management LLC owned 0.06% of United Community Banks as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. acquired a new stake in shares of United Community Banks in the fourth quarter valued at about $450,141,000. FMR LLC acquired a new position in United Community Banks during the 4th quarter valued at $310,166,000. Dimensional Fund Advisors LP bought a new stake in shares of United Community Banks in the fourth quarter valued at about $195,766,000. Capital Research Global Investors bought a new position in United Community Banks during the fourth quarter valued at about $148,763,000. Finally, Geode Capital Management LLC bought a new stake in shares of United Community Banks in the 4th quarter worth approximately $88,397,000. 82.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at United Community Banks

In other news, Director Sally Pope Davis bought 1,800 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $28.19 per share, for a total transaction of $50,742.00. Following the completion of the transaction, the director now directly owns 3,264 shares in the company, valued at $92,012.16. The trade was a 122.95 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 value of $1,072,017.36. Following the completion of the transaction, the chief executive officer now owns 112,444 shares in the company, valued at approximately $3,805,104.96. This represents a 21.98 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

UCB has been the subject of a number of recent research reports. Keefe, Bruyette & Woods cut their target price on United Community Banks from $35.00 to $32.00 and set a "market perform" rating for the company in a research note on Wednesday. DA Davidson reduced their price objective on shares of 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 shares of United Community Banks from a "market perform" rating to an "outperform" rating and lowered their target price for the company from $32.00 to $31.00 in a research note on Monday, April 7th. Stephens restated an "overweight" rating and set a $36.00 price target on shares of United Community Banks in a research note on Wednesday, April 23rd. Finally, 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 report on Thursday, January 23rd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $33.14.

United Community Banks Price Performance

NASDAQ UCB traded up $0.65 during trading hours on Friday, reaching $28.53. 111,487 shares of the company's stock were exchanged, compared to its average volume of 790,226. The firm has a fifty day moving average of $27.47 and a 200-day moving average of $30.50. United Community Banks, Inc. has a one year low of $22.93 and a one year high of $35.38. The stock has a market cap of $3.41 billion, a PE ratio of 13.98 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 Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 3.36%. United Community Banks's dividend payout ratio (DPR) 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.