Bank of Montreal Can Takes $508,000 Position in United Community Banks, Inc. (NASDAQ:UCB)

Bank of Montreal Can purchased a new stake in shares of United Community Banks, Inc. (NASDAQ:UCB) in the 4th quarter, Holdings Channel reports. The fund purchased 15,721 shares of the company’s stock, valued at approximately $508,000.

Several other institutional investors have also recently made changes to their positions in UCB. Vanguard Group Inc. acquired a new position in United Community Banks during the fourth quarter worth approximately $450,141,000. FMR LLC acquired a new position in United Community Banks in the 4th quarter valued at about $310,166,000. Geode Capital Management LLC bought a new position in United Community Banks in the 4th quarter valued at about $88,397,000. Massachusetts Financial Services Co. MA bought a new stake in shares of United Community Banks during the fourth quarter worth approximately $60,495,000. Finally, Norges Bank acquired a new position in shares of United Community Banks in the fourth quarter valued at approximately $42,837,000. Institutional investors and hedge funds own 82.29% of the company’s stock.

United Community Banks Stock Performance

NASDAQ:UCB opened at $24.56 on Tuesday. The company has a market cap of $2.93 billion, a price-to-earnings ratio of 12.04 and a beta of 0.80. United Community Banks, Inc. has a fifty-two week low of $22.93 and a fifty-two week high of $35.38. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a fifty day moving average price of $28.36 and a 200-day moving average price of $30.58.

United Community Banks Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend was Friday, March 14th. United Community Banks’s dividend payout ratio is currently 47.06%.

Insider Activity

In other United Community Banks news, Director Sally Pope Davis bought 1,800 shares of the stock in a transaction on Tuesday, March 11th. The stock was purchased at an average price of $28.19 per share, with a total value of $50,742.00. Following the completion of the purchase, 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 purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Richard Bradshaw sold 1,527 shares of the firm’s 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 owns 67,876 shares in the company, valued at approximately $2,220,902.72. The trade was a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on UCB. Hovde Group raised United Community Banks from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from $32.00 to $31.00 in a report on Monday, April 7th. Piper Sandler raised their price target on shares of United Community Banks from $32.00 to $35.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd.

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.