Systematic Financial Management LP bought a new stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 899,684 shares of the company's stock, valued at approximately $29,069,000. Systematic Financial Management LP owned approximately 0.75% of United Community Banks as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC acquired a new position in shares of United Community Banks during the 4th quarter valued at $80,000. Great Lakes Advisors LLC bought a new position in United Community Banks during the fourth quarter valued at about $3,050,000. Swiss National Bank acquired a new position in United Community Banks during the fourth quarter worth about $7,573,000. Commonwealth Equity Services LLC bought a new stake in United Community Banks in the fourth quarter worth about $273,000. Finally, Natixis Advisors LLC acquired a new stake in United Community Banks in the 4th quarter valued at about $498,000. Institutional investors and hedge funds own 82.29% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms recently commented on UCB. Keefe, Bruyette & Woods dropped their target price on shares of United Community Banks from $35.00 to $32.00 and set a "market perform" rating on the stock in a report on Wednesday, April 30th. Hovde Group raised United Community Banks from a "market perform" rating to an "outperform" rating and dropped their price target for the company from $32.00 to $31.00 in a report on Monday, April 7th. DA Davidson reduced their price objective on United Community Banks from $38.00 to $33.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Stephens restated an "overweight" rating and issued a $36.00 target price on shares of United Community Banks in a report on Wednesday, April 23rd. Finally, Piper Sandler upped their target price on United Community Banks from $32.00 to $35.00 and gave the company a "neutral" rating in a report on Thursday, January 23rd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $33.14.
Check Out Our Latest Report on United Community Banks
Insider Activity at United Community Banks
In related news, Director Sally Pope Davis acquired 1,800 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 3,264 shares of the company's stock, valued at approximately $92,012.16. This trade represents a 122.95% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.43% of the stock is owned by insiders.
United Community Banks Trading Up 0.5%
NASDAQ UCB traded up $0.14 on Thursday, hitting $28.53. 124,128 shares of the stock were exchanged, compared to its average volume of 662,203. The company's 50-day moving average price is $27.19 and its two-hundred day moving average price is $30.53. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.78 and a quick 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 company has a market capitalization of $3.41 billion, a price-to-earnings ratio of 13.98 and a beta of 0.75.
United Community Banks Dividend Announcement
The firm 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 dividend of $0.24 per share. The ex-dividend date is Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.37%. United Community Banks's dividend payout ratio is 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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