State of Tennessee Department of Treasury acquired a new position in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 33,788 shares of the company's stock, valued at approximately $1,092,000.
A number of other institutional investors have also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. acquired a new stake in United Community Banks during the 4th quarter worth approximately $31,000. Quadrant Capital Group LLC acquired a new stake in shares of United Community Banks during the fourth quarter worth $45,000. Tower Research Capital LLC TRC acquired a new stake in shares of United Community Banks during the fourth quarter worth $59,000. Farther Finance Advisors LLC acquired a new position in United Community Banks in the 4th quarter worth $80,000. Finally, Sterling Capital Management LLC acquired a new position in United Community Banks in the 4th quarter worth $124,000. Institutional investors and hedge funds own 82.29% of the company's stock.
United Community Banks Stock Performance
Shares of UCB traded up $0.27 during trading hours on Wednesday, hitting $28.12. The company had a trading volume of 135,288 shares, compared to its average volume of 673,354. The business has a fifty day moving average of $27.28 and a 200-day moving average of $30.48. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.08. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of 13.78 and a beta of 0.75. United Community Banks, Inc. has a 12 month low of $22.93 and a 12 month high of $35.38.
United Community Banks Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.41%. The ex-dividend date was Friday, March 14th. United Community Banks's payout ratio is 45.50%.
Insider Buying and Selling
In other United Community Banks news, Director Sally Pope Davis bought 1,800 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were purchased at an average price of $28.19 per share, for a total transaction of $50,742.00. Following the transaction, the director now directly owns 3,264 shares in the company, valued at approximately $92,012.16. This trade represents a 122.95 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $1,072,017.36. Following the transaction, the chief executive officer now directly owns 112,444 shares in the company, valued at $3,805,104.96. This represents 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 Upgrades and Downgrades
UCB has been the topic of a number of research reports. Piper Sandler boosted their price target on United Community Banks from $32.00 to $35.00 and gave the company a "neutral" rating in a report on Thursday, January 23rd. Stephens reaffirmed an "overweight" rating and set a $36.00 price target on shares of United Community Banks in a research report on Wednesday, April 23rd. DA Davidson lowered their price objective 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. Hovde Group raised shares of United Community Banks from a "market perform" rating to an "outperform" rating and cut their price objective for the stock from $32.00 to $31.00 in a research report on Monday, April 7th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of United Community Banks from $35.00 to $32.00 and set a "market perform" rating for the company in a research report on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $33.14.
Check Out Our Latest Analysis on UCB
About United Community Banks
(
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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