Vanguard Group Inc. Invests $450.14 Million in United Community Banks, Inc. (NASDAQ:UCB)

Vanguard Group Inc. bought a new position in United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 13,931,950 shares of the company's stock, valued at approximately $450,141,000. Vanguard Group Inc. owned 11.68% of United Community Banks as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in UCB. Farther Finance Advisors LLC purchased a new stake in United Community Banks in the 4th quarter valued at about $80,000. Lee Danner & Bass Inc. purchased a new position in shares of United Community Banks in the 4th quarter worth $174,000. Patten & Patten Inc. TN purchased a new stake in United Community Banks during the fourth quarter valued at about $255,000. Commonwealth Equity Services LLC purchased a new position in shares of United Community Banks in the 4th quarter worth about $273,000. Finally, Xponance Inc. purchased a new stake in shares of United Community Banks during the 4th quarter worth about $278,000. Institutional investors and hedge funds own 82.29% of the company's stock.

Insider Buying and Selling at United Community Banks

In other news, EVP Richard Bradshaw sold 1,527 shares of the firm's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $32.72, for a total value of $49,963.44. Following the transaction, the executive vice president now directly owns 67,876 shares in the company, valued at approximately $2,220,902.72. This trade represents a 2.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO H Lynn Harton sold 31,679 shares of the business's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $33.84, for a total transaction of $1,072,017.36. Following 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 represents a 21.98 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

Remove Ads

United Community Banks Stock Down 5.0 %

Shares of United Community Banks stock traded down $1.28 on Friday, hitting $24.18. 1,269,296 shares of the company's stock traded hands, compared to its average volume of 637,245. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.08. The firm's 50-day moving average is $30.75 and its 200 day moving average is $30.99. The stock has a market cap of $2.89 billion, a P/E ratio of 11.85 and a beta of 0.80. United Community Banks, Inc. has a 52-week low of $23.41 and a 52-week high of $35.38.

United Community Banks Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend was Friday, March 14th. United Community Banks's dividend payout ratio is currently 47.06%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Hovde Group dropped their price objective 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. Piper Sandler increased their target price on United Community Banks from $32.00 to $35.00 and gave the company a "neutral" rating in a research note on Thursday, January 23rd. Finally, Raymond James upgraded United Community Banks from a "market perform" rating to an "outperform" rating and set a $35.00 price target for the company in a report on Thursday, December 19th.

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.