Synovus Financial Corp Purchases New Position in United Community Banks, Inc. (NASDAQ:UCB)

Synovus Financial Corp purchased a new position in shares of United Community Banks, Inc. (NASDAQ:UCB) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 27,296 shares of the company’s stock, valued at approximately $882,000.

Other institutional investors also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. purchased a new position in shares of United Community Banks during the 4th quarter valued at approximately $31,000. Quadrant Capital Group LLC acquired a new stake in shares of United Community Banks in the fourth quarter valued at about $45,000. Farther Finance Advisors LLC purchased a new stake in shares of United Community Banks during the fourth quarter worth about $80,000. Sterling Capital Management LLC acquired a new position in shares of United Community Banks during the 4th quarter worth about $124,000. Finally, Lee Danner & Bass Inc. purchased a new position in United Community Banks in the 4th quarter valued at about $174,000. 82.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Hovde Group upgraded 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 research note on Monday, April 7th. Piper Sandler increased their price objective 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 raised shares of United Community Banks from a “market perform” rating to an “outperform” rating and set a $35.00 target price on the stock in a research note on Thursday, December 19th.

Insider Activity

In other United Community Banks news, Director Sally Pope Davis bought 1,800 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was bought at an average price of $28.19 per share, with a total value of $50,742.00. Following the completion of the purchase, the director now directly owns 3,264 shares in the company, valued at $92,012.16. The trade was a 122.95 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Richard Bradshaw sold 1,527 shares of the company’s stock in a transaction on Monday, January 27th. The shares were 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 in the company, valued at approximately $2,220,902.72. This trade represents a 2.20 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

United Community Banks Price Performance

NASDAQ:UCB opened at $24.70 on Thursday. United Community Banks, Inc. has a one year low of $22.93 and a one year high of $35.38. The stock has a market cap of $2.95 billion, a PE ratio of 12.11 and a beta of 0.80. 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 stock has a 50 day moving average price of $28.91 and a 200 day moving average price of $30.62.

United Community Banks Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 3.89%. United Community Banks’s dividend payout ratio is presently 47.06%.

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.