The Manufacturers Life Insurance Company Takes Position in United Community Banks, Inc. (NASDAQ:UCB)

The Manufacturers Life Insurance Company purchased a new position in shares of United Community Banks, Inc. (NASDAQ:UCB) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 65,963 shares of the company’s stock, valued at approximately $2,131,000. The Manufacturers Life Insurance Company owned approximately 0.06% of United Community Banks as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. acquired a new position in United Community Banks during the fourth quarter worth about $450,141,000. FMR LLC acquired a new position in shares of United Community Banks during the 4th quarter worth approximately $310,166,000. Dimensional Fund Advisors LP purchased a new stake in shares of United Community Banks in the fourth quarter valued at approximately $195,766,000. Capital Research Global Investors acquired a new stake in shares of United Community Banks in the fourth quarter valued at approximately $148,763,000. Finally, Earnest Partners LLC purchased a new position in United Community Banks during the fourth quarter worth approximately $113,536,000. 82.29% of the stock is owned by institutional investors and hedge funds.

United Community Banks Stock Down 0.5 %

NASDAQ:UCB opened at $28.48 on Friday. United Community Banks, Inc. has a 52 week low of $22.93 and a 52 week high of $35.38. 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 stock’s fifty day moving average is $27.08 and its two-hundred day moving average is $30.48. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 13.96 and a beta of 0.75.

United Community Banks Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend was Friday, March 14th. United Community Banks’s dividend payout ratio (DPR) is 45.50%.

Insider Buying and Selling at United Community Banks

In other United Community Banks news, Director Sally Pope Davis purchased 1,800 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was acquired at an average price of $28.19 per share, for a total transaction of $50,742.00. Following the completion of the purchase, the director now directly owns 3,264 shares in the company, valued at approximately $92,012.16. The trade was a 122.95 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO H Lynn Harton sold 31,679 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $33.84, for a total value of $1,072,017.36. Following the completion of the sale, the chief executive officer now owns 112,444 shares in the company, valued at approximately $3,805,104.96. The trade was a 21.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

UCB has been the subject of a number of recent research reports. DA Davidson cut their target price on United Community Banks from $38.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Keefe, Bruyette & Woods decreased their target price on shares of United Community Banks from $35.00 to $32.00 and set a “market perform” rating on the stock in a report on Wednesday, April 30th. Hovde Group raised shares of United Community Banks from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $32.00 to $31.00 in a research report on Monday, April 7th. Stephens reiterated an “overweight” rating and issued a $36.00 price objective on shares of United Community Banks in a research report on Wednesday, April 23rd. Finally, Piper Sandler lifted their target price 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. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $33.14.

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.