Thrivent Financial for Lutherans bought a new stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 100,368 shares of the company's stock, valued at approximately $3,243,000. Thrivent Financial for Lutherans owned approximately 0.08% of United Community Banks at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of UCB. Cibc World Markets Corp bought a new position in United Community Banks during the fourth quarter worth about $362,000. Patten & Patten Inc. TN acquired a new position in shares of United Community Banks in the 4th quarter worth approximately $255,000. Natixis Advisors LLC bought a new position in shares of United Community Banks during the 4th quarter worth approximately $498,000. Commonwealth Equity Services LLC acquired a new stake in United Community Banks in the 4th quarter valued at $273,000. Finally, Swiss National Bank bought a new stake in United Community Banks in the fourth quarter valued at $7,573,000. Institutional investors and hedge funds own 82.29% of the company's stock.
United Community Banks Price Performance
United Community Banks stock traded down $0.75 on Friday, reaching $27.81. The company's stock had a trading volume of 472,772 shares, compared to its average volume of 625,857. The business's fifty day moving average price is $31.38 and its 200 day moving average price is $31.08. 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 company has a market cap of $3.32 billion, a price-to-earnings ratio of 13.63 and a beta of 0.90. United Community Banks, Inc. has a twelve month low of $26.00 and a twelve month high of $35.38.
United Community Banks Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Friday, March 14th. United Community Banks's dividend payout ratio is currently 47.06%.
Analysts Set New Price Targets
UCB has been the subject of a number of analyst reports. 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. Hovde Group dropped their target price on shares of United Community Banks from $36.00 to $32.00 and set a "market perform" rating for the company in a research report on Thursday, March 20th. Finally, Raymond James upgraded shares of United Community Banks from a "market perform" rating to an "outperform" rating and set a $35.00 price target on the stock in a research report on Thursday, December 19th.
Check Out Our Latest Report on United Community Banks
Insider Buying and Selling at United Community Banks
In other news, CEO H Lynn Harton sold 31,679 shares of United Community Banks 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 sale, the chief executive officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sally Pope Davis bought 1,800 shares of the company's stock in a transaction dated 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 transaction, the director now owns 3,264 shares of the company's stock, valued at $92,012.16. The trade was a 122.95 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.54% of the company's stock.
United Community Banks Company Profile
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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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