Thoroughbred Financial Services LLC bought a new position in United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 35,053 shares of the company's stock, valued at approximately $1,132,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Corebridge Financial Inc. purchased a new position in shares of United Community Banks in the 4th quarter worth about $2,057,000. Thrivent Financial for Lutherans bought a new stake in United Community Banks during the 4th quarter valued at about $3,243,000. Swiss National Bank purchased a new position in United Community Banks in the fourth quarter worth about $7,573,000. Great Lakes Advisors LLC bought a new position in shares of United Community Banks in the fourth quarter worth approximately $3,050,000. Finally, Advantage Alpha Capital Partners LP purchased a new stake in shares of United Community Banks during the fourth quarter valued at approximately $638,000. Hedge funds and other institutional investors own 82.29% of the company's stock.
Insider Transactions at United Community Banks
In related news, EVP Richard Bradshaw sold 1,527 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $32.72, for a total value of $49,963.44. Following the transaction, the executive vice president now owns 67,876 shares of the company's stock, valued at $2,220,902.72. This represents a 2.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 transaction, the chief executive officer now directly owns 112,444 shares in the company, valued at $3,805,104.96. The trade was a 21.98 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.54% of the company's stock.
United Community Banks Trading Down 0.4 %
Shares of NASDAQ:UCB traded down $0.09 during trading on Friday, reaching $23.62. The company's stock had a trading volume of 775,266 shares, compared to its average volume of 661,688. The firm's 50 day simple moving average is $29.50 and its two-hundred day simple moving average is $30.72. 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 stock has a market capitalization of $2.82 billion, a PE ratio of 11.58 and a beta of 0.80.
United Community Banks Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were given 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 4.07%. United Community Banks's dividend payout ratio (DPR) is presently 47.06%.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on UCB. Piper Sandler boosted 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. Raymond James upgraded shares of United Community Banks from a "market perform" rating to an "outperform" rating and set a $35.00 target price on the stock in a research note on Thursday, December 19th. Finally, Hovde Group raised shares of United Community Banks from a "market perform" rating to an "outperform" rating and dropped their price target for the company from $32.00 to $31.00 in a report on Monday.
Get Our Latest Stock Report on UCB
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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