JPMorgan Chase & Co. Acquires Shares of 668,492 United Community Banks, Inc. (NASDAQ:UCB)

JPMorgan Chase & Co. acquired a new stake in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 668,492 shares of the company's stock, valued at approximately $21,599,000. JPMorgan Chase & Co. owned about 0.56% of United Community Banks as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in UCB. Segall Bryant & Hamill LLC bought a new stake in shares of United Community Banks in the fourth quarter valued at approximately $27,535,000. Prudential Financial Inc. acquired a new stake in United Community Banks during the 4th quarter valued at $3,985,000. Corebridge Financial Inc. acquired a new stake in shares of United Community Banks in the fourth quarter valued at $2,057,000. Advantage Alpha Capital Partners LP acquired a new stake in United Community Banks in the 4th quarter valued at about $638,000. Finally, Vanguard Group Inc. acquired a new stake in shares of United Community Banks in the fourth quarter valued at approximately $450,141,000. 82.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on UCB shares. Hovde Group upgraded United Community Banks from a "market perform" rating to an "outperform" rating and lowered their price objective for the stock from $32.00 to $31.00 in a research report on Monday, April 7th. Raymond James upgraded United Community Banks from a "market perform" rating to an "outperform" rating and set a $35.00 target price on the stock in a report on Thursday, December 19th. Finally, Piper Sandler increased their price target on shares of United Community Banks from $32.00 to $35.00 and gave the company a "neutral" rating in a research report on Thursday, January 23rd.

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Insider Buying and Selling at United Community Banks

In related news, Director Sally Pope Davis purchased 1,800 shares of United Community Banks stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $28.19 per share, with a total value of $50,742.00. Following the completion of the transaction, the director now 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Richard Bradshaw sold 1,527 shares of the firm'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 value of $49,963.44. Following the completion of the transaction, the executive vice president now owns 67,876 shares of the company's stock, valued at approximately $2,220,902.72. This represents a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.54% of the company's stock.

United Community Banks Stock Down 0.4 %

Shares of UCB stock traded down $0.10 during trading hours on Wednesday, hitting $24.42. 64,385 shares of the company were exchanged, compared to its average volume of 660,008. The company has a market capitalization of $2.92 billion, a PE ratio of 11.98 and a beta of 0.80. United Community Banks, Inc. has a 52 week low of $22.93 and a 52 week high of $35.38. The business has a 50 day moving average of $29.10 and a two-hundred day moving average of $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 Announces Dividend

The company 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. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 3.93%. United Community Banks's dividend payout ratio is currently 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.