22,734 Shares in United Community Banks, Inc. (NASDAQ:UCB) Acquired by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP acquired a new stake in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 22,734 shares of the company's stock, valued at approximately $735,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in UCB. Nomura Asset Management Co. Ltd. bought a new stake in United Community Banks during the 4th quarter valued at approximately $31,000. Farther Finance Advisors LLC purchased a new position in shares of United Community Banks during the fourth quarter valued at about $80,000. Lee Danner & Bass Inc. bought a new stake in shares of United Community Banks in the fourth quarter worth about $174,000. Orion Portfolio Solutions LLC bought a new position in United Community Banks during the fourth quarter valued at approximately $232,000. Finally, Patten & Patten Inc. TN purchased a new position in United Community Banks during the 4th quarter valued at approximately $255,000. 82.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Hovde Group upgraded United Community Banks from a "market perform" rating to an "outperform" rating and lowered their target price for the company from $32.00 to $31.00 in a research report on Monday, April 7th. Raymond James upgraded shares of United Community Banks from a "market perform" rating to an "outperform" rating and set a $35.00 price objective for the company in a research report on Thursday, December 19th. Finally, Piper Sandler boosted their target price 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.

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Insiders Place Their Bets

In other news, EVP Richard Bradshaw sold 1,527 shares of the company's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $32.72, for a total value of $49,963.44. Following the transaction, the executive vice president now directly owns 67,876 shares in the company, valued at approximately $2,220,902.72. This represents a 2.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO H Lynn Harton sold 31,679 shares of United Community Banks stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $33.84, for a total transaction of $1,072,017.36. Following 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 disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.

United Community Banks Trading Down 0.1 %

UCB stock traded down $0.02 during mid-day trading on Wednesday, reaching $24.50. 558,332 shares of the stock traded hands, compared to its average volume of 662,993. United Community Banks, Inc. has a one year low of $22.93 and a one year high of $35.38. The stock has a market capitalization of $2.93 billion, a PE ratio of 12.01 and a beta of 0.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.78 and a current ratio of 0.78. The business has a 50-day moving average price of $29.10 and a two-hundred day moving average price of $30.66.

United Community Banks Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date was Friday, March 14th. United Community Banks's dividend payout ratio (DPR) is currently 47.06%.

United Community Banks Company 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.