United Community Banks (NASDAQ:UCB) Sees Large Volume Increase - Should You Buy?

Shares of United Community Banks, Inc. (NASDAQ:UCB - Get Free Report) saw an uptick in trading volume on Tuesday . 2,484,465 shares changed hands during trading, an increase of 259% from the previous session's volume of 691,633 shares.The stock last traded at $28.72 and had previously closed at $28.93.

Analyst Upgrades and Downgrades

UCB has been the subject of a number of recent analyst reports. Piper Sandler upped 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 report on Thursday, January 23rd. Hovde Group dropped their price target on United Community Banks from $36.00 to $32.00 and set a "market perform" rating on the stock in a research report on Thursday, March 20th. Finally, Raymond James upgraded United Community Banks from a "market perform" rating to an "outperform" rating and set a $35.00 price objective for the company in a research report on Thursday, December 19th.

United Community Banks Price Performance

The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.08. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 13.63 and a beta of 0.90. The company has a 50 day simple moving average of $31.38 and a 200-day simple moving average of $31.06.

United Community Banks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend is Friday, March 14th. United Community Banks's payout ratio is 47.06%.

Remove Ads

Insider Buying and Selling at United Community Banks

In other United Community Banks news, EVP Richard Bradshaw sold 1,527 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were 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 $2,220,902.72. This represents a 2.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 sale, the chief executive officer now directly owns 112,444 shares in the company, valued at approximately $3,805,104.96. This trade represents a 21.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.54% of the company's stock.

Hedge Funds Weigh In On United Community Banks

Several hedge funds have recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. acquired a new position in United Community Banks during the fourth quarter valued at approximately $31,000. Public Employees Retirement System of Ohio bought a new stake in shares of United Community Banks during the 4th quarter worth $42,000. Quadrant Capital Group LLC acquired a new stake in United Community Banks in the fourth quarter valued at about $45,000. Tower Research Capital LLC TRC bought a new position in United Community Banks in the fourth quarter valued at about $59,000. Finally, Farther Finance Advisors LLC acquired a new position in United Community Banks during the fourth quarter worth about $80,000. 82.29% of the stock is owned by institutional investors.

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.