Fmr LLC Acquires New Shares in United Community Banks, Inc. (NASDAQ:UCB)

FMR LLC bought a new stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 9,599,703 shares of the company's stock, valued at approximately $310,166,000. FMR LLC owned 8.05% of United Community Banks at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in UCB. Nomura Asset Management Co. Ltd. acquired a new position in shares of United Community Banks during the fourth quarter valued at about $31,000. Quadrant Capital Group LLC bought a new position in United Community Banks in the 4th quarter valued at about $45,000. Farther Finance Advisors LLC acquired a new position in United Community Banks during the 4th quarter valued at about $80,000. Lee Danner & Bass Inc. bought a new stake in United Community Banks during the 4th quarter worth approximately $174,000. Finally, Landscape Capital Management L.L.C. purchased a new stake in shares of United Community Banks in the fourth quarter worth approximately $219,000. 82.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Hovde Group upgraded United Community Banks from a "market perform" rating to an "outperform" rating and dropped their price objective for the company from $32.00 to $31.00 in a research note on Monday, April 7th. Raymond James raised 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. Finally, Piper Sandler upped their price objective 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.

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Insider Activity

In other United Community Banks news, Director Sally Pope Davis acquired 1,800 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were acquired at an average cost of $28.19 per share, with a total value of $50,742.00. Following the completion of the acquisition, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $1,072,017.36. Following the completion of the transaction, the chief executive officer now owns 112,444 shares of the company's stock, valued at $3,805,104.96. The trade was a 21.98 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.54% of the company's stock.

United Community Banks Stock Performance

Shares of NASDAQ:UCB traded up $0.17 during midday trading on Wednesday, reaching $24.69. The company had a trading volume of 163,362 shares, compared to its average volume of 770,280. The stock has a market cap of $2.95 billion, a P/E ratio of 12.10 and a beta of 0.80. The company's 50 day moving average price is $29.10 and its 200 day moving average price is $30.66. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.08. United Community Banks, Inc. has a 52-week low of $22.93 and a 52-week high of $35.38.

United Community Banks Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date was Friday, March 14th. United Community Banks's payout ratio is 47.06%.

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.