Swiss National Bank Makes New $7.57 Million Investment in United Community Banks, Inc. (NASDAQ:UCB)

Swiss National Bank acquired a new position in shares of United Community Banks, Inc. (NASDAQ:UCB) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 234,400 shares of the company’s stock, valued at approximately $7,573,000.

Separately, Great Lakes Advisors LLC purchased a new position in shares of United Community Banks during the 4th quarter worth approximately $3,050,000. 82.29% of the stock is owned by hedge funds and other institutional investors.

United Community Banks Stock Performance

NASDAQ UCB opened at $27.94 on Friday. United Community Banks, Inc. has a 1-year low of $26.00 and a 1-year high of $35.38. The company has a market capitalization of $3.34 billion, a P/E ratio of 13.70 and a beta of 0.90. The business has a 50 day moving average price of $31.68 and a 200 day moving average price of $31.07. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Friday, March 14th. United Community Banks’s payout ratio is currently 47.06%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on UCB. Hovde Group cut their target price on United Community Banks from $36.00 to $32.00 and set a “market perform” rating for the company in a research note on Thursday. Piper Sandler increased their target price on United Community Banks from $32.00 to $35.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Finally, Raymond James raised United Community Banks from a “market perform” rating to an “outperform” rating and set a $35.00 target price for the company in a research note on Thursday, December 19th.

Insider Activity at United Community Banks

In other United Community Banks news, CEO H Lynn Harton sold 31,679 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $33.84, for a total transaction 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. This trade represents a 21.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Richard Bradshaw sold 1,527 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $32.72, for a total value 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. The trade was a 2.20 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

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.