Mesirow Institutional Investment Management Inc. Takes $15.73 Million Position in United Community Banks, Inc. (NASDAQ:UCB)

Mesirow Institutional Investment Management Inc. acquired a new stake in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 486,974 shares of the company's stock, valued at approximately $15,734,000. United Community Banks makes up about 1.2% of Mesirow Institutional Investment Management Inc.'s holdings, making the stock its 27th largest holding. Mesirow Institutional Investment Management Inc. owned about 0.41% of United Community Banks as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of Montreal Can purchased a new position in United Community Banks in the 4th quarter worth approximately $508,000. Legal & General Group Plc bought a new position in shares of United Community Banks in the fourth quarter worth approximately $10,686,000. Swiss National Bank purchased a new position in shares of United Community Banks in the fourth quarter worth $7,573,000. Corebridge Financial Inc. bought a new stake in United Community Banks during the 4th quarter valued at $2,057,000. Finally, Thrivent Financial for Lutherans purchased a new stake in United Community Banks during the 4th quarter valued at $3,243,000. Hedge funds and other institutional investors own 82.29% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Piper Sandler upped their price objective on shares of United Community Banks from $32.00 to $35.00 and gave the company a "neutral" rating in a research note on Thursday, January 23rd. DA Davidson dropped their price objective on United Community Banks from $38.00 to $33.00 and set a "buy" rating for the company in a report on Wednesday. Hovde Group raised United Community Banks from a "market perform" rating to an "outperform" rating and reduced their target price for the company from $32.00 to $31.00 in a research note on Monday, April 7th. Finally, Stephens reiterated an "overweight" rating and issued a $36.00 price target on shares of United Community Banks in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.33.

Insider Buying and Selling

In other United Community Banks news, Director Sally Pope Davis acquired 1,800 shares of United Community Banks stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average cost of $28.19 per share, for a total transaction of $50,742.00. Following the acquisition, the director now owns 3,264 shares of the company's stock, valued at $92,012.16. This represents a 122.95 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Richard Bradshaw sold 1,527 shares of the company's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $32.72, for a total transaction of $49,963.44. Following the transaction, the executive vice president now owns 67,876 shares in the company, valued at $2,220,902.72. This represents a 2.20 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

United Community Banks Stock Up 2.5 %

Shares of United Community Banks stock traded up $0.66 during trading on Thursday, hitting $27.29. The company's stock had a trading volume of 827,784 shares, compared to its average volume of 676,398. United Community Banks, Inc. has a 52 week low of $22.93 and a 52 week high of $35.38. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.78 and a current ratio of 0.78. The company has a fifty day simple moving average of $28.08 and a two-hundred day simple moving average of $30.52. The company has a market capitalization of $3.26 billion, a PE ratio of 13.38 and a beta of 0.80.

United Community Banks Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date was Friday, March 14th. United Community Banks's payout ratio is 47.06%.

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.