Wellington Management Group LLP Invests $11.49 Million in United Community Banks, Inc. (NASDAQ:UCB)

Wellington Management Group LLP acquired a new stake in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 355,683 shares of the company's stock, valued at approximately $11,492,000. Wellington Management Group LLP owned approximately 0.30% of United Community Banks as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. acquired a new stake in United Community Banks in the 4th quarter valued at $450,141,000. Norges Bank acquired a new position in shares of United Community Banks during the fourth quarter valued at about $42,837,000. Segall Bryant & Hamill LLC bought a new stake in shares of United Community Banks during the fourth quarter worth about $27,535,000. JPMorgan Chase & Co. acquired a new stake in shares of United Community Banks in the 4th quarter worth about $21,599,000. Finally, Schroder Investment Management Group acquired a new stake in shares of United Community Banks in the 4th quarter worth about $13,571,000. 82.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO H Lynn Harton sold 31,679 shares of the company's stock in a transaction that occurred on 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 in the company, valued at approximately $3,805,104.96. This represents a 21.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Richard Bradshaw sold 1,527 shares of United Community Banks 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 completion of 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 disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.

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United Community Banks Stock Performance

United Community Banks stock traded up $0.87 during mid-day trading on Tuesday, reaching $24.70. 117,418 shares of the company's stock were exchanged, compared to its average volume of 658,639. The business's fifty day simple moving average is $29.30 and its 200 day simple moving average is $30.70. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.08. United Community Banks, Inc. has a one year low of $22.93 and a one year high of $35.38. The firm has a market capitalization of $2.95 billion, a PE ratio of 12.05 and a beta of 0.80.

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. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend was Friday, March 14th. United Community Banks's payout ratio is 47.06%.

Wall Street Analyst Weigh In

UCB has been the subject of a number of recent research reports. Raymond James raised United Community Banks from a "market perform" rating to an "outperform" rating and set a $35.00 price objective for the company in a report on Thursday, December 19th. Piper Sandler increased their price target on United Community Banks from $32.00 to $35.00 and gave the company a "neutral" rating in a research report on Thursday, January 23rd. Finally, Hovde Group raised shares of United Community Banks from a "market perform" rating to an "outperform" rating and cut their price objective for the stock from $32.00 to $31.00 in a report on Monday, April 7th.

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.