Maryland State Retirement & Pension System Makes New $1.30 Million Investment in United Community Banks, Inc. (NASDAQ:UCB)

Maryland State Retirement & Pension System purchased a new position in United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 40,271 shares of the company's stock, valued at approximately $1,301,000.

Several other institutional investors and hedge funds have also made changes to their positions in UCB. Farther Finance Advisors LLC purchased a new position in United Community Banks during the fourth quarter valued at approximately $80,000. Great Lakes Advisors LLC acquired a new stake in United Community Banks in the fourth quarter valued at approximately $3,050,000. Swiss National Bank purchased a new position in shares of United Community Banks during the 4th quarter valued at approximately $7,573,000. Commonwealth Equity Services LLC acquired a new position in United Community Banks during the fourth quarter worth $273,000. Finally, Natixis Advisors LLC purchased a new stake in shares of United Community Banks during the fourth quarter worth about $498,000. 82.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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United Community Banks Trading Up 0.3 %

Shares of NASDAQ UCB traded up $0.09 during trading on Wednesday, hitting $28.74. 821,424 shares of the company were exchanged, compared to its average volume of 578,287. 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 12-month low of $26.00 and a 12-month high of $35.38. The company has a fifty day moving average price of $31.61 and a 200-day moving average price of $31.08. The firm has a market capitalization of $3.43 billion, a PE ratio of 14.09 and a beta of 0.90.

United Community Banks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.96 annualized dividend and a yield of 3.34%. United Community Banks's dividend payout ratio (DPR) is currently 47.06%.

Insider Buying and Selling at United Community Banks

In related news, Director Sally Pope Davis bought 1,800 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $28.19 per share, with a total value of $50,742.00. Following the purchase, the director now directly owns 3,264 shares of the company's stock, valued at $92,012.16. This trade represents a 122.95 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO H Lynn Harton sold 31,679 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 112,444 shares in the company, valued at approximately $3,805,104.96. This represents a 21.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.54% of the company's stock.

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.