Public Employees Retirement Association of Colorado Takes Position in United Community Banks, Inc. (NASDAQ:UCB)

Public Employees Retirement Association of Colorado purchased a new stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,515 shares of the company's stock, valued at approximately $566,000.

A number of other large investors have also recently added to or reduced their stakes in UCB. Bank of Montreal Can acquired a new stake in United Community Banks in the fourth quarter worth $508,000. Legal & General Group Plc acquired a new position in shares of United Community Banks during the fourth quarter worth approximately $10,686,000. Swiss National Bank acquired a new stake in United Community Banks in the 4th quarter valued at approximately $7,573,000. Corebridge Financial Inc. acquired a new position in United Community Banks during the 4th quarter worth $2,057,000. Finally, Thrivent Financial for Lutherans bought a new position in United Community Banks in the 4th quarter valued at about $3,243,000. 82.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

UCB has been the subject of a number of research reports. Keefe, Bruyette & Woods decreased their price target 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, April 30th. DA Davidson cut their price target 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 upgraded shares of United Community Banks from a "market perform" rating to an "outperform" rating and decreased their price target for the stock from $32.00 to $31.00 in a research report on Monday, April 7th. Piper Sandler lifted 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. Finally, Stephens reiterated an "overweight" rating and issued a $36.00 price target on shares of United Community Banks in a research report on Wednesday, April 23rd. Three 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 company has a consensus rating of "Moderate Buy" and an average target price of $33.14.

United Community Banks Stock Up 0.9 %

UCB traded up $0.24 on Wednesday, reaching $28.09. 161,583 shares of the company traded hands, compared to its average volume of 673,524. The company has a market cap of $3.36 billion, a price-to-earnings ratio of 13.77 and a beta of 0.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.78 and a quick ratio of 0.78. The stock's 50 day moving average price is $27.28 and its 200-day moving average price is $30.48. United Community Banks, Inc. has a 52-week low of $22.93 and a 52-week high of $35.38.

United Community Banks Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.42%. The ex-dividend date was Friday, March 14th. United Community Banks's payout ratio is currently 45.50%.

Insider Buying and Selling

In other United Community Banks news, CEO H Lynn Harton sold 31,679 shares of the firm's 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 completion of the sale, the chief executive officer now owns 112,444 shares in the company, valued at approximately $3,805,104.96. This trade represents a 21.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sally Pope Davis bought 1,800 shares of the firm's stock in a transaction dated Tuesday, March 11th. The shares were acquired 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 owns 3,264 shares in the company, valued at $92,012.16. This represents a 122.95 % increase in their position. The disclosure for this purchase can be found here. 0.43% of the stock is currently owned by corporate insiders.

United Community Banks 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.