Systematic Financial Management LP 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 13F filing with the Securities & Exchange Commission. The firm acquired 899,684 shares of the company's stock, valued at approximately $29,069,000. Systematic Financial Management LP owned about 0.75% of United Community Banks as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the business. Bank of Montreal Can acquired a new position in United Community Banks in the fourth quarter valued at approximately $508,000. Legal & General Group Plc acquired a new stake in United Community Banks during the 4th quarter valued at $10,686,000. Northern Trust Corp purchased a new position in shares of United Community Banks during the 4th quarter valued at $45,527,000. Swiss National Bank purchased a new position in shares of United Community Banks during the 4th quarter valued at $7,573,000. Finally, Corebridge Financial Inc. bought a new stake in United Community Banks in the fourth quarter worth $2,057,000. Institutional investors and hedge funds own 82.29% of the company's stock.
Insider Activity
In other United Community Banks news, Director Sally Pope Davis purchased 1,800 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were purchased at an average cost of $28.19 per share, with a total value 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 represents a 122.95% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.43% of the stock is owned by company insiders.
United Community Banks Price Performance
UCB opened at $29.69 on Friday. The company has a fifty day moving average price of $27.14 and a two-hundred day moving average price of $30.52. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.78 and a current ratio of 0.78. United Community Banks, Inc. has a 52 week low of $22.93 and a 52 week high of $35.38. The firm has a market capitalization of $3.55 billion, a PE ratio of 14.55 and a beta of 0.75.
United Community Banks Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Sunday, June 15th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Friday, June 13th. United Community Banks's dividend payout ratio (DPR) is 45.50%.
Wall Street Analyst Weigh In
UCB has been the subject of a number of recent analyst reports. DA Davidson decreased 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. Stephens reissued an "overweight" rating and issued a $36.00 price target on shares of United Community Banks in a research report on Wednesday, April 23rd. Piper Sandler upped their price objective on shares of United Community Banks from $32.00 to $35.00 and gave the stock a "neutral" rating in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods decreased their price objective on shares of United Community Banks from $35.00 to $32.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 30th. Finally, Hovde Group raised shares of United Community Banks from a "market perform" rating to an "outperform" rating and decreased their price target for the company from $32.00 to $31.00 in a research note on Monday, April 7th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $33.14.
Read Our Latest Stock Report on United Community Banks
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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