Alliancebernstein L.P. Takes Position in United Community Banks, Inc. (NASDAQ:UCB)

Alliancebernstein L.P. acquired a new position in United Community Banks, Inc. (NASDAQ:UCB) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 147,112 shares of the company’s stock, valued at approximately $4,753,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Nomura Asset Management Co. Ltd. bought a new stake in United Community Banks during the fourth quarter valued at about $31,000. Farther Finance Advisors LLC bought a new position in shares of United Community Banks during the 4th quarter valued at approximately $80,000. Lee Danner & Bass Inc. bought a new position in shares of United Community Banks during the 4th quarter valued at approximately $174,000. Orion Portfolio Solutions LLC purchased a new stake in United Community Banks in the 4th quarter worth approximately $232,000. Finally, Patten & Patten Inc. TN bought a new stake in shares of United Community Banks during the 4th quarter valued at $255,000. Hedge funds and other institutional investors own 82.29% of the company’s stock.

Insider Transactions at United Community Banks

In other news, Director Sally Pope Davis purchased 1,800 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $28.19 per share, with a total value of $50,742.00. Following the purchase, the director now owns 3,264 shares in the company, valued at approximately $92,012.16. This trade represents a 122.95 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO H Lynn Harton sold 31,679 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 112,444 shares in the company, valued at $3,805,104.96. This trade represents a 21.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

United Community Banks Stock Down 0.4 %

Shares of NASDAQ UCB opened at $23.62 on Monday. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of 11.58 and a beta of 0.80. United Community Banks, Inc. has a 12-month low of $22.93 and a 12-month 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 firm’s 50-day moving average price is $29.50 and its 200-day moving average price is $30.74.

United Community Banks Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend was Friday, March 14th. United Community Banks’s payout ratio is 47.06%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on UCB shares. Raymond James raised 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. Hovde Group raised United Community Banks from a “market perform” rating to an “outperform” rating and dropped their price target for the company from $32.00 to $31.00 in a research note on Monday, April 7th. Finally, Piper Sandler lifted their price objective 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.

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.