Raymond James Financial Inc. Takes $8.68 Million Position in United Community Banks, Inc. (NASDAQ:UCB)

Raymond James Financial Inc. acquired a new position in United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 268,515 shares of the company's stock, valued at approximately $8,675,000. Raymond James Financial Inc. owned 0.23% of United Community Banks as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of UCB. Great Lakes Advisors LLC bought a new stake in United Community Banks during the 4th quarter valued at $3,050,000. Swiss National Bank bought a new stake in shares of United Community Banks during the fourth quarter valued at about $7,573,000. Advantage Alpha Capital Partners LP acquired a new stake in United Community Banks in the fourth quarter worth about $638,000. Maryland State Retirement & Pension System bought a new position in United Community Banks in the 4th quarter valued at about $1,301,000. Finally, Segall Bryant & Hamill LLC acquired a new position in United Community Banks during the 4th quarter valued at about $27,535,000. 82.29% of the stock is currently owned by institutional investors.

United Community Banks Price Performance

UCB stock traded down $0.13 on Thursday, hitting $28.58. 635,400 shares of the company's stock traded hands, compared to its average volume of 578,663. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of 14.01 and a beta of 0.90. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.08. The stock has a fifty day moving average of $31.47 and a 200-day moving average of $31.05. United Community Banks, Inc. has a 1-year low of $26.00 and a 1-year high of $35.38.

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United Community Banks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.36%. The ex-dividend date is Friday, March 14th. United Community Banks's dividend payout ratio is 47.06%.

Analyst Ratings Changes

UCB has been the subject of a number of research analyst reports. Hovde Group reduced their price target on shares of United Community Banks from $36.00 to $32.00 and set a "market perform" rating for the company in a research note on Thursday, March 20th. Piper Sandler upped their target price on United Community Banks from $32.00 to $35.00 and gave the stock a "neutral" rating in a research report on Thursday, January 23rd. Finally, Raymond James raised United Community Banks from a "market perform" rating to an "outperform" rating and set a $35.00 price objective on the stock in a research note on Thursday, December 19th.

Insiders Place Their Bets

In related news, EVP Richard Bradshaw sold 1,527 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $32.72, for a total value of $49,963.44. Following the completion of the sale, the executive vice president now directly owns 67,876 shares of the company's stock, valued at approximately $2,220,902.72. This represents a 2.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sally Pope Davis bought 1,800 shares of the stock in a transaction on Tuesday, March 11th. The shares were acquired at an average cost of $28.19 per share, for a total transaction of $50,742.00. Following the purchase, the director now owns 3,264 shares in the company, valued at approximately $92,012.16. This represents a 122.95 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.54% of the company's stock.

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.