Massachusetts Financial Services Co. MA purchased a new position in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 1,872,318 shares of the company's stock, valued at approximately $60,495,000. Massachusetts Financial Services Co. MA owned 1.57% of United Community Banks at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in UCB. Nomura Asset Management Co. Ltd. acquired a new position in United Community Banks during the fourth quarter worth $31,000. Farther Finance Advisors LLC acquired a new stake in shares of United Community Banks in the 4th quarter worth about $80,000. Lee Danner & Bass Inc. bought a new position in United Community Banks in the 4th quarter valued at about $174,000. Orion Portfolio Solutions LLC purchased a new stake in shares of United Community Banks in the fourth quarter worth approximately $232,000. Finally, Patten & Patten Inc. TN bought a new position in shares of United Community Banks in the fourth quarter valued at approximately $255,000. 82.29% of the stock is owned by institutional investors and hedge funds.
United Community Banks Stock Performance
UCB traded down $2.09 during trading on Thursday, hitting $23.43. 680,790 shares of the company traded hands, compared to its average volume of 654,774. United Community Banks, Inc. has a one year low of $23.21 and a one year high of $35.38. The stock's fifty day moving average is $29.87 and its 200 day moving average is $30.79. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.08. The firm has a market cap of $2.80 billion, a P/E ratio of 11.54 and a beta of 0.80.
United Community Banks Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were paid a dividend of $0.24 per share. The ex-dividend date was Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 4.10%. United Community Banks's payout ratio is currently 47.06%.
Insider Buying and Selling
In other news, Director Sally Pope Davis bought 1,800 shares of the stock in a transaction on Tuesday, March 11th. The shares were purchased at an average cost of $28.19 per share, for a total transaction of $50,742.00. Following the completion of the purchase, the director now directly owns 3,264 shares in the company, valued at $92,012.16. This represents a 122.95 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 value of $1,072,017.36. Following the completion of the sale, the chief executive officer now directly owns 112,444 shares of the company's stock, valued at approximately $3,805,104.96. This trade represents a 21.98 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the company. Piper Sandler increased their price target on United Community Banks from $32.00 to $35.00 and gave the company a "neutral" rating in a research report on Thursday, January 23rd. Hovde Group raised shares of United Community Banks from a "market perform" rating to an "outperform" rating and dropped their price target for the company from $32.00 to $31.00 in a research report on Monday. Finally, Raymond James raised shares of 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 report on Thursday, December 19th.
Check Out Our Latest Research Report on UCB
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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