Alliancebernstein L.P. purchased a new stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 147,112 shares of the company's stock, valued at approximately $4,753,000. Alliancebernstein L.P. owned approximately 0.12% of United Community Banks as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of UCB. Nomura Asset Management Co. Ltd. bought a new position in shares of United Community Banks during the 4th quarter worth about $31,000. Farther Finance Advisors LLC bought a new position in shares of United Community Banks in the fourth quarter valued at about $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 bought a new position in United Community Banks in the 4th quarter valued at $232,000. Finally, Patten & Patten Inc. TN acquired a new stake in shares of United Community Banks during the 4th quarter worth approximately $255,000. Institutional investors and hedge funds own 82.29% of the company's stock.
Insiders Place Their Bets
In related news, Director Sally Pope Davis bought 1,800 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was acquired at an average cost of $28.19 per share, for a total transaction of $50,742.00. Following the completion of the transaction, the director now directly owns 3,264 shares in the company, valued at $92,012.16. This trade represents a 122.95 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Richard Bradshaw sold 1,527 shares of United Community Banks stock in a transaction that occurred 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 transaction, the executive vice president now directly 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 disclosure for this sale can be found here. Insiders own 0.54% of the company's stock.
United Community Banks Trading Up 3.0 %
Shares of NASDAQ:UCB traded up $0.71 during midday trading on Tuesday, reaching $24.54. The company's stock had a trading volume of 951,358 shares, compared to its average volume of 663,333. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of 12.03 and a beta of 0.80. United Community Banks, Inc. has a fifty-two week low of $22.93 and a fifty-two week high of $35.38. The firm has a 50 day moving average price of $29.30 and a two-hundred day moving average price of $30.70. 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 Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.91%. The ex-dividend date was Friday, March 14th. United Community Banks's dividend payout ratio (DPR) is presently 47.06%.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on UCB. Raymond James upgraded 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. Hovde Group upgraded shares of United Community Banks from a "market perform" rating to an "outperform" rating and decreased their price objective for the company from $32.00 to $31.00 in a report on Monday, April 7th. Finally, Piper Sandler boosted 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.
Get Our Latest Research Report on UCB
United Community Banks Company Profile
(
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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