Vanguard Group Inc. Takes $450.14 Million Position in United Community Banks, Inc. (NASDAQ:UCB)

Vanguard Group Inc. acquired a new position in shares of United Community Banks, Inc. (NASDAQ:UCB) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 13,931,950 shares of the company’s stock, valued at approximately $450,141,000. Vanguard Group Inc. owned 11.68% of United Community Banks at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. LPL Financial LLC bought a new stake in United Community Banks during the fourth quarter valued at about $1,246,000. KLP Kapitalforvaltning AS bought a new stake in United Community Banks during the 4th quarter valued at approximately $771,000. Sei Investments Co. bought a new stake in United Community Banks during the 4th quarter valued at approximately $11,881,000. American Century Companies Inc. acquired a new stake in United Community Banks in the 4th quarter valued at approximately $5,951,000. Finally, Lee Danner & Bass Inc. bought a new position in United Community Banks in the 4th quarter worth approximately $174,000. 82.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Sally Pope Davis acquired 1,800 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was bought at an average cost of $28.19 per share, with a total value of $50,742.00. Following the completion of the acquisition, the director now owns 3,264 shares in the company, valued at $92,012.16. The trade was a 122.95 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Richard Bradshaw sold 1,527 shares of United Community Banks stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $32.72, for a total transaction of $49,963.44. Following the transaction, the executive vice president now directly owns 67,876 shares of the company’s stock, valued at $2,220,902.72. This represents a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by company insiders.

United Community Banks Stock Performance

Shares of NASDAQ UCB opened at $27.73 on Wednesday. United Community Banks, Inc. has a one year low of $26.00 and a one year high of $35.38. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.08. The business has a fifty day simple moving average of $31.18 and a 200 day simple moving average of $31.07. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 13.59 and a beta of 0.90.

United Community Banks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 3.46%. United Community Banks’s dividend payout ratio (DPR) is currently 47.06%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on UCB shares. Hovde Group reduced their price objective on United Community Banks from $36.00 to $32.00 and set a “market perform” rating for the company in a research report on Thursday, March 20th. Raymond James upgraded shares of United Community Banks from a “market perform” rating to an “outperform” rating and set a $35.00 price target on the stock in a research report on Thursday, December 19th. Finally, Piper Sandler upped their price objective on shares of United Community Banks from $32.00 to $35.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd.

United Community Banks Company 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.