CIBC Private Wealth Group LLC Acquires New Shares in United Community Banks, Inc. (NASDAQ:UCB)

CIBC Private Wealth Group LLC bought a new position in United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 32,818 shares of the company's stock, valued at approximately $1,021,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. bought a new position in United Community Banks during the fourth quarter worth $31,000. Farther Finance Advisors LLC acquired a new stake in shares of United Community Banks during the 4th quarter worth approximately $80,000. Lee Danner & Bass Inc. bought a new stake in shares of United Community Banks during the fourth quarter valued at approximately $174,000. Orion Portfolio Solutions LLC acquired a new position in shares of United Community Banks in the fourth quarter valued at $232,000. Finally, Patten & Patten Inc. TN bought a new position in United Community Banks in the fourth quarter worth $255,000. Institutional investors and hedge funds own 82.29% of the company's stock.

United Community Banks Price Performance

United Community Banks stock traded up $0.55 during trading hours on Tuesday, hitting $24.65. 150,363 shares of the stock were exchanged, compared to its average volume of 638,175. United Community Banks, Inc. has a 12 month low of $23.38 and a 12 month high of $35.38. The business's 50-day moving average is $30.56 and its two-hundred day moving average is $30.95. 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 stock has a market capitalization of $2.94 billion, a P/E ratio of 12.07 and a beta of 0.80.

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United Community Banks Dividend Announcement

The firm 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. The ex-dividend date was Friday, March 14th. This represents a $0.96 annualized dividend and a yield of 3.89%. United Community Banks's payout ratio is 47.06%.

Insiders Place Their Bets

In related news, EVP Richard Bradshaw sold 1,527 shares of the firm's 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 transaction, the executive vice president now owns 67,876 shares in the company, valued at $2,220,902.72. This trade represents a 2.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 stock was 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 approximately $3,805,104.96. The trade was a 21.98 % 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.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Hovde Group raised shares of United Community Banks from a "market perform" rating to an "outperform" rating and lowered their price target for the company from $32.00 to $31.00 in a report on Monday. Piper Sandler increased their price target on shares of 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 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 research note on Thursday, December 19th.

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.