Voya Investment Management LLC Buys New Position in United Community Banks, Inc. (NASDAQ:UCB)

Voya Investment Management LLC acquired a new position in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 178,062 shares of the company's stock, valued at approximately $5,753,000. Voya Investment Management LLC owned approximately 0.15% of United Community Banks at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. acquired a new position in shares of United Community Banks during the 4th quarter valued at about $31,000. Quadrant Capital Group LLC purchased a new stake in shares of United Community Banks during the 4th quarter valued at $45,000. Tower Research Capital LLC TRC acquired a new stake in shares of United Community Banks during the 4th quarter worth $59,000. Farther Finance Advisors LLC purchased a new position in shares of United Community Banks in the 4th quarter worth $80,000. Finally, Sterling Capital Management LLC acquired a new position in shares of United Community Banks in the 4th quarter valued at about $124,000. 82.29% of the stock is currently owned by hedge funds and other institutional investors.

United Community Banks Stock Performance

Shares of United Community Banks stock traded down $0.23 during midday trading on Tuesday, hitting $28.21. The company had a trading volume of 67,238 shares, compared to its average volume of 673,747. The stock has a market cap of $3.37 billion, a PE ratio of 13.85 and a beta of 0.75. United Community Banks, Inc. has a 1-year low of $22.93 and a 1-year high of $35.38. The business's 50 day simple moving average is $27.35 and its two-hundred day simple moving average is $30.50. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.40%. The ex-dividend date was Friday, March 14th. United Community Banks's payout ratio is presently 45.50%.

Insider Activity at United Community Banks

In other United Community Banks news, CEO H Lynn Harton sold 31,679 shares of the business's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $33.84, for a total value of $1,072,017.36. Following the completion of the sale, the chief executive officer now owns 112,444 shares of the company's stock, valued at $3,805,104.96. The trade was a 21.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Sally Pope Davis bought 1,800 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was purchased at an average cost of $28.19 per share, for a total transaction of $50,742.00. Following the completion of the acquisition, the director now owns 3,264 shares in the company, valued at approximately $92,012.16. This trade represents a 122.95 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.43% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods dropped their price objective 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. Stephens reaffirmed an "overweight" rating and set a $36.00 price target on shares of United Community Banks in a research note on Wednesday, April 23rd. Piper Sandler upped their price objective on United Community Banks from $32.00 to $35.00 and gave the company a "neutral" rating in a report on Thursday, January 23rd. Hovde Group upgraded shares of United Community Banks from a "market perform" rating to an "outperform" rating and dropped their price target for the stock from $32.00 to $31.00 in a research report on Monday, April 7th. Finally, 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 research note on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $33.14.

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.