California Public Employees Retirement System Invests $5.83 Million in United Community Banks, Inc. (NASDAQ:UCB)

California Public Employees Retirement System bought a new position in United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 180,476 shares of the company's stock, valued at approximately $5,831,000. California Public Employees Retirement System owned 0.15% of United Community Banks at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in UCB. Vanguard Group Inc. bought a new position in United Community Banks in the fourth quarter worth approximately $450,141,000. Norges Bank bought a new stake in United Community Banks during the fourth quarter worth approximately $42,837,000. Segall Bryant & Hamill LLC bought a new stake in shares of United Community Banks in the 4th quarter worth about $27,535,000. JPMorgan Chase & Co. purchased a new position in shares of United Community Banks during the fourth quarter valued at approximately $21,599,000. Finally, Schroder Investment Management Group purchased a new position in United Community Banks in the 4th quarter worth about $13,571,000. 82.29% of the stock is owned by hedge funds and other institutional investors.

United Community Banks Stock Down 0.4 %

Shares of NASDAQ:UCB traded down $0.09 during trading on Friday, reaching $23.62. The stock had a trading volume of 775,266 shares, compared to its average volume of 661,688. 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 company has a market capitalization of $2.82 billion, a P/E ratio of 11.58 and a beta of 0.80. The firm's 50-day simple moving average is $29.50 and its 200 day simple moving average is $30.72. United Community Banks, Inc. has a one year low of $22.93 and a one year high of $35.38.

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United Community Banks Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.07%. The ex-dividend date was Friday, March 14th. United Community Banks's dividend payout ratio is currently 47.06%.

Insider Transactions at United Community Banks

In other United Community Banks news, EVP Richard Bradshaw sold 1,527 shares of the business's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $32.72, for a total transaction of $49,963.44. Following the sale, the executive vice president now owns 67,876 shares of the company's stock, valued at approximately $2,220,902.72. The trade was a 2.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sally Pope Davis acquired 1,800 shares of the stock in a transaction dated Tuesday, March 11th. The shares were bought at an average price of $28.19 per share, with a total value of $50,742.00. Following the completion of the purchase, the director now directly owns 3,264 shares of the company's stock, 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. Insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. 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 report on Thursday, January 23rd. Hovde Group raised shares of United Community Banks from a "market perform" rating to an "outperform" rating and lowered their price target for the stock from $32.00 to $31.00 in a research report on Monday, April 7th. Finally, Raymond James upgraded shares of 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.

About United Community Banks

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.