United Community Banks (NASDAQ:UCB) Sees Unusually-High Trading Volume – Here’s Why

United Community Banks, Inc. (NASDAQ:UCB) saw strong 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

A number of research firms have recently weighed in on UCB. Piper Sandler raised 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 price target on the stock in a report on Thursday, December 19th. Finally, Hovde Group decreased 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 report on Thursday, March 20th.

United Community Banks Trading Down 0.4 %

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 company has a 50-day moving average price of $31.54 and a 200-day moving average price of $31.07. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of 14.01 and a beta of 0.90.

United Community Banks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Friday, March 14th. United Community Banks’s dividend payout ratio (DPR) is currently 47.06%.

Insider Transactions at United Community Banks

In other news, Director Sally Pope Davis acquired 1,800 shares of the stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average cost of $28.19 per share, for a total transaction of $50,742.00. Following the completion of the transaction, the director now owns 3,264 shares in the company, valued at approximately $92,012.16. This trade represents a 122.95 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Richard Bradshaw sold 1,527 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 67,876 shares of the company’s stock, valued at approximately $2,220,902.72. This trade represents a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On United Community Banks

Hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC bought a new stake in United Community Banks in the fourth quarter valued at about $80,000. Great Lakes Advisors LLC bought a new stake in shares of United Community Banks in the 4th quarter valued at approximately $3,050,000. Swiss National Bank acquired a new position in shares of United Community Banks in the 4th quarter worth approximately $7,573,000. Commonwealth Equity Services LLC acquired a new position in shares of United Community Banks in the 4th quarter worth approximately $273,000. Finally, Natixis Advisors LLC bought a new position in shares of United Community Banks during the 4th quarter worth approximately $498,000. Institutional investors and hedge funds own 82.29% of the company’s stock.

About United Community Banks

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.