Synovus Financial Corp Makes New Investment in United Community Banks, Inc. (NASDAQ:UCB)

Synovus Financial Corp purchased a new position in United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 27,296 shares of the company's stock, valued at approximately $882,000.

Other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC bought a new position in shares of United Community Banks during the 4th quarter valued at $80,000. Great Lakes Advisors LLC purchased a new stake in United Community Banks during the fourth quarter valued at about $3,050,000. Swiss National Bank purchased a new position in shares of United Community Banks in the fourth quarter worth about $7,573,000. Commonwealth Equity Services LLC bought a new stake in shares of United Community Banks in the 4th quarter valued at about $273,000. Finally, Natixis Advisors LLC bought a new stake in shares of United Community Banks in the 4th quarter valued at about $498,000. Institutional investors own 82.29% of the company's stock.

Insider Activity

In other United Community Banks news, EVP Richard Bradshaw sold 1,527 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president now owns 67,876 shares in the company, valued at approximately $2,220,902.72. This represents a 2.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO H Lynn Harton sold 31,679 shares of the stock in a transaction on 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 transaction, the chief executive officer now 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. Insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Piper Sandler lifted their price target on United Community Banks from $32.00 to $35.00 and gave the stock a "neutral" rating in a research note on Thursday, January 23rd. Hovde Group raised shares of United Community Banks from a "market perform" rating to an "outperform" rating and decreased their target price for the stock from $32.00 to $31.00 in a research note on Monday, April 7th.

United Community Banks Trading Up 6.2 %

NASDAQ:UCB traded up $1.52 during mid-day trading on Tuesday, reaching $26.10. 1,285,254 shares of the company's stock traded hands, compared to its average volume of 673,346. The company has a 50 day moving average price of $28.22 and a 200-day moving average price of $30.55. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 12.79 and a beta of 0.80. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.78 and a quick ratio of 0.78. United Community Banks, Inc. has a 12-month low of $22.93 and a 12-month high of $35.38.

United Community Banks Announces Dividend

The firm also recently announced 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 of this dividend was Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 3.68%. United Community Banks's dividend payout ratio (DPR) is presently 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.