Cibc World Markets Corp Buys New Stake in United Community Banks, Inc. (NASDAQ:UCB)

Cibc World Markets Corp purchased a new position in shares of United Community Banks, Inc. (NASDAQ:UCB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,194 shares of the company’s stock, valued at approximately $362,000.

A number of other institutional investors also recently made changes to their positions in the stock. Swiss National Bank acquired a new position in United Community Banks in the 4th quarter valued at $7,573,000. Great Lakes Advisors LLC purchased a new stake in shares of United Community Banks in the fourth quarter valued at $3,050,000. Natixis Advisors LLC acquired a new position in United Community Banks in the fourth quarter valued at $498,000. Commonwealth Equity Services LLC purchased a new position in United Community Banks during the fourth quarter worth about $273,000. Finally, Patten & Patten Inc. TN acquired a new stake in United Community Banks in the 4th quarter worth about $255,000. 82.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at United Community Banks

In related news, CEO H Lynn Harton sold 31,679 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 112,444 shares of the company’s stock, valued at approximately $3,805,104.96. The trade was a 21.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Richard Bradshaw sold 1,527 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $32.72, for a total transaction of $49,963.44. Following the completion of the sale, the executive vice president now directly owns 67,876 shares of the company’s stock, valued at $2,220,902.72. This trade represents a 2.20 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on UCB shares. 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 note on Thursday, January 23rd. Hovde Group dropped their price target on shares of 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. Finally, 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 report on Thursday, December 19th.

United Community Banks Trading Up 3.3 %

NASDAQ UCB opened at $28.92 on Tuesday. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 14.17 and a beta of 0.90. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.78 and a current ratio of 0.78. United Community Banks, Inc. has a one year low of $26.00 and a one year high of $35.38. The company’s 50 day moving average price is $31.66 and its 200 day moving average price is $31.08.

United Community Banks Dividend Announcement

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 paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date is Friday, March 14th. United Community Banks’s dividend payout ratio is presently 47.06%.

About United Community Banks

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.