Swiss National Bank Makes New Investment in United Community Banks, Inc. (NASDAQ:UCB)

Swiss National Bank bought a new position in United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 234,400 shares of the company's stock, valued at approximately $7,573,000. Swiss National Bank owned approximately 0.20% of United Community Banks at the end of the most recent quarter.

Separately, Farther Finance Advisors LLC purchased a new stake in shares of United Community Banks during the fourth quarter worth about $80,000. Institutional investors and hedge funds own 82.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on UCB shares. Hovde Group dropped their price target on 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. Piper Sandler boosted their price target on shares of United Community Banks from $32.00 to $35.00 and gave the stock a "neutral" rating in a research note on Thursday, January 23rd. Finally, Raymond James raised 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.

United Community Banks Trading Up 0.3 %

UCB stock traded up $0.09 during midday trading on Wednesday, reaching $28.74. 821,424 shares of the company traded hands, compared to its average volume of 578,287. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 14.09 and a beta of 0.90. 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 business has a 50 day moving average of $31.61 and a 200-day moving average of $31.08. United Community Banks, Inc. has a 52-week low of $26.00 and a 52-week high of $35.38.

Remove Ads

United Community Banks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be issued a $0.24 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 3.34%. United Community Banks's dividend payout ratio (DPR) is presently 47.06%.

Insider Buying and Selling

In other United Community Banks news, Director Sally Pope Davis bought 1,800 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was acquired at an average price of $28.19 per share, for a total transaction of $50,742.00. Following the completion of the transaction, the director now directly owns 3,264 shares of the company's stock, valued at approximately $92,012.16. This represents a 122.95 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO H Lynn Harton sold 31,679 shares of the company's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $33.84, for a total value of $1,072,017.36. Following the transaction, the chief executive officer now directly owns 112,444 shares in the company, valued at approximately $3,805,104.96. This represents a 21.98 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

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.