United Community Banks (NASDAQ:UCB) Stock Rating Upgraded by Hovde Group

Hovde Group upgraded shares of United Community Banks (NASDAQ:UCB - Free Report) from a market perform rating to an outperform rating in a research report released on Monday, MarketBeat Ratings reports. They currently have $31.00 target price on the stock, down from their prior target price of $32.00.

Several other analysts also recently weighed in on the stock. Piper Sandler lifted their target price on shares of United Community Banks from $32.00 to $35.00 and gave the company a "neutral" rating in a report on Thursday, January 23rd. Raymond James raised 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 note on Thursday, December 19th.

United Community Banks Trading Down 0.4 %

Shares of UCB traded down $0.09 during trading on Monday, reaching $23.62. 775,266 shares of the company traded hands, compared to its average volume of 661,688. The stock has a 50-day simple moving average of $29.50 and a 200-day simple moving average of $30.72. The stock has a market cap of $2.82 billion, a PE ratio of 11.58 and a beta of 0.80. United Community Banks has a twelve month low of $22.93 and a twelve month high of $35.38. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.08.

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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 given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend was Friday, March 14th. United Community Banks's dividend payout ratio is currently 47.06%.

Insider Activity at United Community Banks

In other news, Director Sally Pope Davis acquired 1,800 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $28.19 per share, with a total value of $50,742.00. Following the transaction, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO H Lynn Harton sold 31,679 shares of the firm's stock in a transaction 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 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 disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On United Community Banks

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. purchased a new stake in United Community Banks during the 4th quarter worth about $450,141,000. FMR LLC purchased a new stake in United Community Banks during the fourth quarter worth approximately $310,166,000. Dimensional Fund Advisors LP purchased a new stake in United Community Banks during the fourth quarter worth approximately $195,766,000. Capital Research Global Investors acquired a new position in United Community Banks in the fourth quarter valued at approximately $148,763,000. Finally, Earnest Partners LLC purchased a new position in United Community Banks in the fourth quarter valued at approximately $113,536,000. Hedge funds and other institutional investors own 82.29% 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.