Snyder Capital Management L P Makes New Investment in United Community Banks, Inc. (NASDAQ:UCB)

Snyder Capital Management L P acquired a new stake in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 1,908,470 shares of the company's stock, valued at approximately $61,663,000. United Community Banks makes up about 1.3% of Snyder Capital Management L P's holdings, making the stock its 28th largest position. Snyder Capital Management L P owned 1.60% of United Community Banks at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC purchased a new position in United Community Banks in the 4th quarter worth approximately $80,000. Great Lakes Advisors LLC purchased a new stake in shares of United Community Banks during the 4th quarter worth approximately $3,050,000. Swiss National Bank purchased a new stake in shares of United Community Banks during the 4th quarter worth approximately $7,573,000. Commonwealth Equity Services LLC purchased a new stake in shares of United Community Banks during the 4th quarter worth approximately $273,000. Finally, Natixis Advisors LLC purchased a new stake in shares of United Community Banks during the 4th quarter worth approximately $498,000. 82.29% of the stock is owned by hedge funds and other institutional investors.

United Community Banks Stock Down 1.2 %

Shares of NASDAQ:UCB traded down $0.33 during trading hours on Wednesday, hitting $27.44. The company's stock had a trading volume of 131,327 shares, compared to its average volume of 674,336. United Community Banks, Inc. has a 52 week low of $22.93 and a 52 week high of $35.38. 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 company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 13.45 and a beta of 0.80. The firm's fifty day moving average price is $27.62 and its 200 day moving average price is $30.53.

United Community Banks Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders 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 dividend yield of 3.50%. United Community Banks's dividend payout ratio is currently 45.50%.

Insider Activity

In other United Community Banks news, Director Sally Pope Davis purchased 1,800 shares of United Community Banks 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 acquisition, the director now owns 3,264 shares in the company, valued at $92,012.16. This trade represents a 122.95 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO H Lynn Harton sold 31,679 shares of the business'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 completion of the sale, the chief executive officer now 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 disclosure for this sale can be found here. Company insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

UCB has been the topic of several analyst reports. Piper Sandler boosted their target price on United Community Banks from $32.00 to $35.00 and gave the company a "neutral" rating in a research report on Thursday, January 23rd. Hovde Group raised United Community Banks from a "market perform" rating to an "outperform" rating and cut their target price for the company from $32.00 to $31.00 in a research report on Monday, April 7th. DA Davidson cut their target price on United Community Banks from $38.00 to $33.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. 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. Finally, Keefe, Bruyette & Woods cut their target price on United Community Banks from $35.00 to $32.00 and set a "market perform" rating on the stock in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, United Community Banks presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.14.

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.