Stifel Financial Corp Invests $1.31 Million in United Community Banks, Inc. (NASDAQ:UCB)

Stifel Financial Corp bought a new stake in shares of United Community Banks, Inc. (NASDAQ:UCB) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 40,407 shares of the company’s stock, valued at approximately $1,306,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Bank of Montreal Can purchased a new stake in United Community Banks during the fourth quarter valued at about $508,000. Legal & General Group Plc acquired a new position in United Community Banks in the 4th quarter worth approximately $10,686,000. Swiss National Bank purchased a new position in United Community Banks during the 4th quarter worth approximately $7,573,000. Corebridge Financial Inc. acquired a new stake in United Community Banks during the 4th quarter valued at $2,057,000. Finally, Thrivent Financial for Lutherans purchased a new stake in shares of United Community Banks in the fourth quarter valued at $3,243,000. 82.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at United Community Banks

In other news, Director Sally Pope Davis bought 1,800 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average price of $28.19 per share, for a total transaction of $50,742.00. Following the acquisition, the director now directly owns 3,264 shares of the company’s stock, valued at $92,012.16. The trade was a 122.95 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO H Lynn Harton sold 31,679 shares of the business’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 transaction, the chief executive officer now directly owns 112,444 shares of the company’s stock, valued at approximately $3,805,104.96. This represents a 21.98 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company’s stock.

United Community Banks Stock Performance

UCB stock opened at $28.06 on Thursday. The firm has a 50 day moving average of $27.19 and a two-hundred day moving average of $30.46. United Community Banks, Inc. has a 12 month low of $22.93 and a 12 month high of $35.38. The company has a market capitalization of $3.35 billion, a price-to-earnings ratio of 13.75 and a beta of 0.75. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.08.

United Community Banks Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.42%. The ex-dividend date was Friday, March 14th. United Community Banks’s payout ratio is 45.50%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on UCB. Stephens reissued an “overweight” rating and set a $36.00 price target on shares of United Community Banks in a research report on Wednesday, April 23rd. Hovde Group upgraded United Community Banks from a “market perform” rating to an “outperform” rating and dropped their target price 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 report on Thursday, January 23rd. Keefe, Bruyette & Woods dropped their price objective on shares of United Community Banks from $35.00 to $32.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 30th. Finally, DA Davidson decreased their target price on shares of United Community Banks from $38.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, United Community Banks presently has an average rating of “Moderate Buy” and a consensus target price of $33.14.

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.