12,514 Shares in United Community Banks, Inc. (NASDAQ:UCB) Bought by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. purchased 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 filing with the Securities & Exchange Commission. The institutional investor purchased 12,514 shares of the company's stock, valued at approximately $404,000.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. bought a new stake in United Community Banks during the 4th quarter worth approximately $450,141,000. FMR LLC purchased a new position in shares of United Community Banks during the fourth quarter valued at about $310,166,000. Geode Capital Management LLC purchased a new position in shares of United Community Banks during the fourth quarter valued at about $88,397,000. Massachusetts Financial Services Co. MA bought a new stake in United Community Banks in the 4th quarter worth approximately $60,495,000. Finally, Invesco Ltd. bought a new stake in United Community Banks in the fourth quarter worth $46,960,000. 82.29% of the stock is currently owned by hedge funds and other institutional investors.

United Community Banks Stock Performance

UCB traded up $0.34 on Wednesday, reaching $26.61. The stock had a trading volume of 1,068,421 shares, compared to its average volume of 675,552. 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, Inc. has a 12-month low of $22.93 and a 12-month high of $35.38. The business's 50-day moving average price is $28.22 and its two-hundred day moving average price is $30.55. The company has a market cap of $3.18 billion, a P/E ratio of 13.04 and a beta of 0.80.

United Community Banks Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.61%. The ex-dividend date was Friday, March 14th. United Community Banks's dividend payout ratio is currently 47.06%.

Insider Transactions at United Community Banks

In other news, EVP Richard Bradshaw sold 1,527 shares of the firm's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $32.72, for a total transaction of $49,963.44. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sally Pope Davis bought 1,800 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average price of $28.19 per share, with a total value of $50,742.00. Following the completion of the acquisition, the director now directly owns 3,264 shares in the company, valued at $92,012.16. This trade represents a 122.95 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Stephens restated an "overweight" rating and set a $36.00 price target on shares of United Community Banks in a report on Wednesday. DA Davidson reduced their target price on shares of United Community Banks from $38.00 to $33.00 and set a "buy" rating on the stock in a research report on Wednesday. Hovde Group upgraded United Community Banks from a "market perform" rating to an "outperform" rating and decreased their price objective for the company from $32.00 to $31.00 in a report on Monday, April 7th. Finally, Piper Sandler increased 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. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $33.33.

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.