Keel Point LLC Invests $524,000 in United Community Banks, Inc. (NASDAQ:UCB)

Keel Point LLC purchased a new stake in shares of United Community Banks, Inc. (NASDAQ:UCB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 16,218 shares of the company’s stock, valued at approximately $524,000.

Several other institutional investors have also added to or reduced their stakes in the company. Jane Street Group LLC bought a new position in shares of United Community Banks during the fourth quarter valued at about $1,772,000. Comerica Bank bought a new position in United Community Banks during the 4th quarter valued at approximately $1,342,000. Northern Trust Corp purchased a new stake in United Community Banks in the 4th quarter worth approximately $45,527,000. The Manufacturers Life Insurance Company bought a new stake in shares of United Community Banks in the 4th quarter worth approximately $2,131,000. Finally, Public Employees Retirement Association of Colorado purchased a new position in shares of United Community Banks during the fourth quarter valued at approximately $566,000. Hedge funds and other institutional investors own 82.29% of the company’s stock.

United Community Banks Price Performance

Shares of NASDAQ:UCB opened at $27.92 on Friday. The company has a market capitalization of $3.33 billion, a PE ratio of 13.68 and a beta of 0.80. The business has a fifty day moving average price of $27.47 and a 200-day moving average price of $30.50. United Community Banks, Inc. has a 1-year low of $22.93 and a 1-year high of $35.38. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.78 and a quick ratio of 0.78.

United Community Banks Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were issued a $0.24 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.96 annualized dividend and a yield of 3.44%. United Community Banks’s dividend payout ratio (DPR) is presently 45.50%.

Insiders Place Their Bets

In other United Community Banks news, CEO H Lynn Harton sold 31,679 shares of the business’s stock in a transaction dated 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 approximately $3,805,104.96. The trade was a 21.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sally Pope Davis bought 1,800 shares of the stock in a transaction on Tuesday, March 11th. The shares were bought at an average price of $28.19 per share, for a total transaction of $50,742.00. Following the purchase, 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.

Analysts Set New Price Targets

A number of analysts recently commented on UCB shares. Hovde Group raised United Community Banks from a “market perform” rating to an “outperform” rating and dropped their price target for the stock from $32.00 to $31.00 in a research note on Monday, April 7th. DA Davidson lowered their price objective on shares of United Community Banks from $38.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Stephens reiterated an “overweight” rating and set a $36.00 target price on shares of United Community Banks in a report on Wednesday, April 23rd. Piper Sandler raised 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, Keefe, Bruyette & Woods decreased their price objective on United Community Banks from $35.00 to $32.00 and set a “market perform” rating for the company in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.14.

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.