33,775 Shares in United Community Banks, Inc. (NASDAQ:UCB) Purchased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky bought a new position in United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 33,775 shares of the company's stock, valued at approximately $1,091,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of UCB. MetLife Investment Management LLC bought a new stake in shares of United Community Banks in the 4th quarter valued at about $2,331,000. Mesirow Institutional Investment Management Inc. bought a new position in United Community Banks in the fourth quarter worth approximately $15,734,000. Capital Research Global Investors purchased a new stake in United Community Banks during the fourth quarter worth $148,763,000. First Trust Advisors LP bought a new stake in United Community Banks during the 4th quarter valued at $2,896,000. Finally, Dimensional Fund Advisors LP purchased a new position in shares of United Community Banks in the 4th quarter valued at $195,766,000. Institutional investors own 82.29% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on UCB. Keefe, Bruyette & Woods decreased their price objective on United Community Banks from $35.00 to $32.00 and set a "market perform" rating for the company in a research note on Wednesday. Stephens restated an "overweight" rating and issued a $36.00 price target on shares of United Community Banks in a report on Wednesday, April 23rd. DA Davidson reduced their price objective on shares of 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. Hovde Group raised shares of United Community Banks from a "market perform" rating to an "outperform" rating and decreased their target price for the company from $32.00 to $31.00 in a research report on Monday, April 7th. Finally, Piper Sandler lifted their price target on shares of United Community Banks from $32.00 to $35.00 and gave the stock a "neutral" rating in a report on Thursday, January 23rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, United Community Banks presently has an average rating of "Moderate Buy" and an average price target of $33.14.

Insider Activity at United Community Banks

In related news, CEO H Lynn Harton sold 31,679 shares of the company'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 value of $1,072,017.36. Following the sale, the chief executive officer now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sally Pope Davis purchased 1,800 shares of United Community Banks stock in a transaction on Tuesday, March 11th. The shares were acquired 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 directly owns 3,264 shares in the company, valued at $92,012.16. The trade was a 122.95 % increase in their position. The disclosure for this purchase can be found here. 0.54% of the stock is owned by insiders.

United Community Banks Stock Performance

NASDAQ:UCB traded up $0.70 during trading hours on Friday, hitting $28.58. 560,810 shares of the company were exchanged, compared to its average volume of 678,058. 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 stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of 14.01 and a beta of 0.80. The company's 50 day moving average price is $27.41 and its 200-day moving average price is $30.50.

United Community Banks Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend was Friday, March 14th. United Community Banks's dividend payout ratio (DPR) is presently 45.50%.

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.