Capital Research Global Investors Makes New Investment in United Community Banks, Inc. (NASDAQ:UCB)

Capital Research Global Investors acquired a new stake in shares of United Community Banks, Inc. (NASDAQ:UCB) during the fourth quarter, Holdings Channel reports. The firm acquired 4,604,227 shares of the company’s stock, valued at approximately $148,763,000.

A number of other hedge funds have also made changes to their positions in UCB. Nomura Asset Management Co. Ltd. acquired a new position in shares of United Community Banks during the 4th quarter valued at $31,000. Quadrant Capital Group LLC acquired a new stake in United Community Banks in the 4th quarter valued at about $45,000. Farther Finance Advisors LLC acquired a new position in shares of United Community Banks in the 4th quarter worth approximately $80,000. Sterling Capital Management LLC acquired a new position in shares of United Community Banks in the 4th quarter worth approximately $124,000. Finally, Lee Danner & Bass Inc. bought a new stake in United Community Banks during the fourth quarter worth approximately $174,000. Institutional investors and hedge funds own 82.29% of the company’s stock.

United Community Banks Stock Up 0.4 %

UCB opened at $24.74 on Monday. 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 business has a 50 day moving average price of $28.54 and a 200 day moving average price of $30.60. The firm has a market cap of $2.95 billion, a P/E ratio of 12.13 and a beta of 0.80. United Community Banks, Inc. has a twelve month low of $22.93 and a twelve month high of $35.38.

United Community Banks Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were paid a $0.24 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 3.88%. United Community Banks’s payout ratio is 47.06%.

Insider Activity at United Community Banks

In other United Community Banks news, CEO H Lynn Harton sold 31,679 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 112,444 shares of the company’s stock, valued at $3,805,104.96. This represents a 21.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sally Pope Davis acquired 1,800 shares of United Community Banks stock in a transaction on Tuesday, March 11th. The stock was purchased at an average price of $28.19 per share, with a total value of $50,742.00. Following the transaction, the director now directly owns 3,264 shares in the company, valued at approximately $92,012.16. This trade represents a 122.95 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Piper Sandler boosted their target price on United Community Banks from $32.00 to $35.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. 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 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.