Pictet Asset Management Holding SA bought a new stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 14,571 shares of the company's stock, valued at approximately $471,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. acquired a new position in United Community Banks during the fourth quarter worth about $31,000. Farther Finance Advisors LLC bought a new stake in shares of United Community Banks during the 4th quarter valued at approximately $80,000. Lee Danner & Bass Inc. acquired a new position in United Community Banks during the 4th quarter worth approximately $174,000. Patten & Patten Inc. TN bought a new position in United Community Banks in the 4th quarter valued at approximately $255,000. Finally, Commonwealth Equity Services LLC bought a new position in United Community Banks in the 4th quarter valued at approximately $273,000. Institutional investors own 82.29% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the stock. Raymond James upgraded shares of United Community Banks from a "market perform" rating to an "outperform" rating and set a $35.00 price target for the company in a report on Thursday, December 19th. Hovde Group raised United Community Banks from a "market perform" rating to an "outperform" rating and lowered their target price for the stock from $32.00 to $31.00 in a report on Monday, April 7th. Finally, Piper Sandler lifted their price target on United Community Banks from $32.00 to $35.00 and gave the company a "neutral" rating in a research note on Thursday, January 23rd.
Check Out Our Latest Stock Analysis on UCB
United Community Banks Trading Up 2.6 %
Shares of NASDAQ:UCB traded up $0.62 during mid-day trading on Tuesday, reaching $24.45. 98,425 shares of the company's stock were exchanged, compared to its average volume of 767,019. 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 twelve month low of $22.93 and a twelve month high of $35.38. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of 11.98 and a beta of 0.80. The business's fifty day moving average price is $29.30 and its 200-day moving average price is $30.70.
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 of this dividend was Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.93%. United Community Banks's dividend payout ratio (DPR) is presently 47.06%.
Insider Activity
In other news, CEO H Lynn Harton sold 31,679 shares of the company's stock in a transaction on 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 sale, the chief executive officer now directly owns 112,444 shares of the company's stock, valued at approximately $3,805,104.96. This represents a 21.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Richard Bradshaw sold 1,527 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $32.72, for a total transaction of $49,963.44. Following the sale, the executive vice president now owns 67,876 shares of the company's stock, valued at approximately $2,220,902.72. This trade represents a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company's stock.
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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