Prudential Financial Inc. bought a new stake in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 121,536 shares of the company's stock, valued at approximately $3,985,000. Prudential Financial Inc. owned about 0.10% of United Community Banks as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. purchased a new stake in shares of United Community Banks in the fourth quarter valued at $450,141,000. Sei Investments Co. purchased a new stake in United Community Banks in the fourth quarter worth $11,881,000. Swiss National Bank purchased a new stake in shares of United Community Banks during the fourth quarter valued at $7,573,000. American Century Companies Inc. purchased a new position in United Community Banks in the 4th quarter worth about $5,951,000. Finally, Thrivent Financial for Lutherans purchased a new position in shares of United Community Banks during the fourth quarter worth approximately $3,243,000. 82.29% of the stock is currently owned by institutional investors.
United Community Banks Stock Down 5.0 %
United Community Banks stock traded down $1.28 during mid-day trading on Friday, reaching $24.18. 1,269,296 shares of the company were exchanged, compared to its average volume of 637,245. United Community Banks, Inc. has a 12-month low of $23.42 and a 12-month high of $35.38. The business has a fifty day moving average of $30.93 and a 200 day moving average of $31.01. The firm has a market cap of $2.89 billion, a P/E ratio of 11.85 and a beta of 0.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.78 and a current ratio of 0.78.
United Community Banks Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date is Friday, March 14th. United Community Banks's dividend payout ratio (DPR) is currently 47.06%.
Wall Street Analyst Weigh In
Several research analysts have commented on the company. Raymond James upgraded United Community Banks from a "market perform" rating to an "outperform" rating and set a $35.00 price objective on the stock in a report on Thursday, December 19th. Piper Sandler lifted their price objective on United Community Banks from $32.00 to $35.00 and gave the company a "neutral" rating in a report on Thursday, January 23rd. Finally, Hovde Group lowered their price objective on shares of United Community Banks from $36.00 to $32.00 and set a "market perform" rating for the company in a research note on Thursday, March 20th.
Read Our Latest Stock Analysis on United Community Banks
Insider Activity at United Community Banks
In other United Community Banks news, 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 sale, the executive vice president now directly owns 67,876 shares in the company, valued at $2,220,902.72. This trade represents a 2.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sally Pope Davis purchased 1,800 shares of United Community Banks stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average cost of $28.19 per share, for a total transaction 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 represents a 122.95 % increase in their position. The disclosure for this purchase can be found here. 0.54% of the stock is owned by corporate insiders.
About United Community Banks
(
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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