Brandywine Global Investment Management LLC bought a new stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 119,683 shares of the company's stock, valued at approximately $3,867,000. Brandywine Global Investment Management LLC owned approximately 0.10% of United Community Banks at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Nomura Asset Management Co. Ltd. purchased a new position in United Community Banks during the 4th quarter valued at about $31,000. Farther Finance Advisors LLC acquired a new stake in United Community Banks during the 4th quarter valued at $80,000. Lee Danner & Bass Inc. purchased a new position in United Community Banks during the fourth quarter worth $174,000. Orion Portfolio Solutions LLC acquired a new position in shares of United Community Banks in the fourth quarter worth $232,000. Finally, Patten & Patten Inc. TN purchased a new stake in United Community Banks during the 4th quarter worth about $255,000. 82.29% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on the stock. 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 report on Thursday, December 19th. Hovde Group reduced their price target on United Community Banks from $36.00 to $32.00 and set a "market perform" rating on the stock in a research note on Thursday, March 20th. Finally, Piper Sandler upped their target price 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.
Check Out Our Latest Stock Analysis on UCB
Insiders Place Their Bets
In other United Community Banks news, CEO H Lynn Harton sold 31,679 shares of the business's 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 $3,805,104.96. The trade was a 21.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sally Pope Davis bought 1,800 shares of the business's stock in a transaction dated 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 purchase, the director now owns 3,264 shares in the company, valued at approximately $92,012.16. This trade represents a 122.95 % increase in their position. The disclosure for this purchase can be found here. 0.54% of the stock is currently owned by insiders.
United Community Banks Trading Down 5.0 %
Shares of UCB traded down $1.28 during mid-day trading on Friday, reaching $24.18. The company had a trading volume of 1,269,296 shares, compared to its average volume of 637,245. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 11.85 and a beta of 0.80. 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 firm has a fifty day simple moving average of $30.75 and a 200-day simple moving average of $30.99. United Community Banks, Inc. has a fifty-two week low of $23.41 and a fifty-two week high of $35.38.
United Community Banks Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date was Friday, March 14th. United Community Banks's dividend payout ratio (DPR) is presently 47.06%.
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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