Susquehanna International Group LLP bought a new stake in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 75,819 shares of the company's stock, valued at approximately $2,450,000. Susquehanna International Group LLP owned 0.06% of United Community Banks at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. acquired a new position in shares of United Community Banks in the fourth quarter valued at approximately $31,000. Quadrant Capital Group LLC acquired a new position in shares of United Community Banks in the fourth quarter valued at approximately $45,000. Tower Research Capital LLC TRC acquired a new position in shares of United Community Banks in the fourth quarter valued at approximately $59,000. Farther Finance Advisors LLC purchased a new stake in shares of United Community Banks in the fourth quarter valued at approximately $80,000. Finally, Sterling Capital Management LLC purchased a new stake in shares of United Community Banks in the fourth quarter valued at approximately $124,000. 82.29% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms have commented on UCB. Hovde Group upgraded United Community Banks from a "market perform" rating to an "outperform" rating and decreased their target price for the stock from $32.00 to $31.00 in a research report on Monday, April 7th. DA Davidson cut their price objective on United Community Banks from $38.00 to $33.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Piper Sandler raised 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 note on Thursday, January 23rd. 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 research report on Wednesday, April 30th. Finally, Stephens reiterated an "overweight" rating and issued a $36.00 target price on shares of United Community Banks in a research note on Wednesday, April 23rd. Three 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 currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.14.
Read Our Latest Research Report on UCB
Insiders Place Their Bets
In other news, Director Sally Pope Davis bought 1,800 shares of the company's stock in a transaction that occurred on 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 transaction, the director now directly owns 3,264 shares of the company's stock, valued at $92,012.16. This trade represents a 122.95% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.43% of the company's stock.
United Community Banks Stock Up 4.4%
Shares of United Community Banks stock traded up $1.25 during midday trading on Monday, hitting $29.78. The company's stock had a trading volume of 651,557 shares, compared to its average volume of 674,235. The firm has a market capitalization of $3.56 billion, a P/E ratio of 14.60 and a beta of 0.75. The stock has a 50-day simple moving average of $27.08 and a 200-day simple moving average of $30.50. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.08. United Community Banks, Inc. has a 1-year low of $22.93 and a 1-year high of $35.38.
United Community Banks Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were given a $0.24 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.22%. United Community Banks's dividend payout ratio is currently 45.50%.
United Community Banks Profile
(
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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