Allspring Global Investments Holdings LLC Trims Holdings in United Community Banks, Inc. (NASDAQ:UCBI)

Allspring Global Investments Holdings LLC reduced its position in United Community Banks, Inc. (NASDAQ:UCBIGet Rating) by 1.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 35,504 shares of the financial services provider’s stock after selling 359 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in United Community Banks were worth $1,175,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Public Employees Retirement Association of Colorado acquired a new position in United Community Banks in the 2nd quarter valued at $538,000. Cetera Advisor Networks LLC grew its stake in shares of United Community Banks by 102.0% during the 2nd quarter. Cetera Advisor Networks LLC now owns 12,176 shares of the financial services provider’s stock worth $368,000 after purchasing an additional 6,149 shares during the period. Mutual of America Capital Management LLC grew its stake in shares of United Community Banks by 16.7% during the 2nd quarter. Mutual of America Capital Management LLC now owns 17,630 shares of the financial services provider’s stock worth $532,000 after purchasing an additional 2,529 shares during the period. JCSD Capital LLC grew its stake in shares of United Community Banks by 5.1% during the 2nd quarter. JCSD Capital LLC now owns 103,756 shares of the financial services provider’s stock worth $3,132,000 after purchasing an additional 5,000 shares during the period. Finally, Csenge Advisory Group grew its stake in shares of United Community Banks by 16.2% during the 3rd quarter. Csenge Advisory Group now owns 21,489 shares of the financial services provider’s stock worth $711,000 after purchasing an additional 2,993 shares during the period. 85.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on UCBI shares. Truist Financial decreased their price objective on shares of United Community Banks from $39.00 to $34.00 and set a “hold” rating on the stock in a research report on Friday. Piper Sandler decreased their price objective on shares of United Community Banks from $40.00 to $36.00 and set an “overweight” rating on the stock in a research report on Thursday. StockNews.com lowered shares of United Community Banks from a “hold” rating to a “sell” rating in a research report on Friday, January 13th. Finally, Janney Montgomery Scott lowered shares of United Community Banks from a “buy” rating to a “neutral” rating in a report on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $35.00.

United Community Banks Price Performance

NASDAQ:UCBI opened at $31.92 on Friday. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 13.70 and a beta of 1.03. United Community Banks, Inc. has a 12-month low of $27.85 and a 12-month high of $39.50. The company has a current ratio of 0.74, a quick ratio of 0.73 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average is $35.25 and its two-hundred day moving average is $34.70.

United Community Banks Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 5th. Stockholders of record on Thursday, December 15th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, December 14th. This represents a $0.88 annualized dividend and a dividend yield of 2.76%. United Community Banks’s payout ratio is currently 37.77%.

About United Community Banks

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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. The company accepts various deposit products, including checking, savings, money market, and other deposit accounts.

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Want to see what other hedge funds are holding UCBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Community Banks, Inc. (NASDAQ:UCBIGet Rating).

Institutional Ownership by Quarter for United Community Banks (NASDAQ:UCBI)

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