Great West Life Assurance Co. Can Invests $4.12 Million in United Community Banks, Inc. (NASDAQ:UCBI)

Great West Life Assurance Co. Can purchased a new position in shares of United Community Banks, Inc. (NASDAQ:UCBIGet Rating) in the third quarter, Holdings Channel.com reports. The fund purchased 124,459 shares of the financial services provider’s stock, valued at approximately $4,116,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Eagle Bay Advisors LLC increased its holdings in shares of United Community Banks by 97.5% during the 2nd quarter. Eagle Bay Advisors LLC now owns 960 shares of the financial services provider’s stock worth $29,000 after buying an additional 474 shares during the last quarter. Assetmark Inc. increased its holdings in shares of United Community Banks by 139.1% during the 2nd quarter. Assetmark Inc. now owns 2,369 shares of the financial services provider’s stock worth $72,000 after buying an additional 1,378 shares during the last quarter. Moisand Fitzgerald Tamayo LLC acquired a new stake in shares of United Community Banks during the 2nd quarter worth approximately $123,000. FinTrust Capital Advisors LLC increased its holdings in shares of United Community Banks by 12.8% during the 2nd quarter. FinTrust Capital Advisors LLC now owns 4,270 shares of the financial services provider’s stock worth $137,000 after buying an additional 483 shares during the last quarter. Finally, Advisor Group Holdings Inc. increased its holdings in shares of United Community Banks by 6.8% during the 1st quarter. Advisor Group Holdings Inc. now owns 5,498 shares of the financial services provider’s stock worth $173,000 after buying an additional 351 shares during the last quarter. Institutional investors and hedge funds own 85.41% of the company’s stock.

United Community Banks Stock Performance

Shares of UCBI stock opened at $31.92 on Monday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.34. United Community Banks, Inc. has a 52 week low of $27.85 and a 52 week high of $39.50. The stock has a market capitalization of $3.39 billion, a PE ratio of 12.67 and a beta of 1.03. The firm has a 50 day moving average of $35.25 and a two-hundred day moving average of $34.73.

United Community Banks Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 5th. Shareholders of record on Thursday, December 15th were given a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, December 14th. This represents a $0.88 annualized dividend and a yield of 2.76%. United Community Banks’s dividend payout ratio is presently 34.92%.

Wall Street Analysts Forecast Growth

UCBI has been the subject of a number of recent analyst reports. Piper Sandler cut their price target on shares of United Community Banks from $40.00 to $36.00 and set an “overweight” rating for the company in a report on Thursday. StockNews.com downgraded shares of United Community Banks from a “hold” rating to a “sell” rating in a report on Friday, January 13th. Truist Financial dropped their target price on shares of United Community Banks from $39.00 to $34.00 and set a “hold” rating for the company in a report on Friday. Finally, Janney Montgomery Scott downgraded shares of United Community Banks from a “buy” rating to a “neutral” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, United Community Banks has an average rating of “Hold” and a consensus price target of $35.00.

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

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