Hsbc Holdings PLC Purchases New Position in United Community Banks, Inc. (NASDAQ:UCB)

Hsbc Holdings PLC acquired a new position in shares of United Community Banks, Inc. (NASDAQ:UCB) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 13,912 shares of the company’s stock, valued at approximately $451,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Nomura Asset Management Co. Ltd. acquired a new stake in shares of United Community Banks during the fourth quarter worth approximately $31,000. Quadrant Capital Group LLC bought a new position in United Community Banks during the 4th quarter valued at $45,000. Tower Research Capital LLC TRC acquired a new position in United Community Banks during the 4th quarter worth $59,000. Farther Finance Advisors LLC bought a new stake in shares of United Community Banks in the 4th quarter worth about $80,000. Finally, Sterling Capital Management LLC acquired a new stake in shares of United Community Banks in the 4th quarter valued at about $124,000. Hedge funds and other institutional investors own 82.29% of the company’s stock.

Insider Transactions at United Community Banks

In other news, CEO H Lynn Harton sold 31,679 shares of United Community Banks 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 in the company, valued at approximately $3,805,104.96. This trade represents a 21.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sally Pope Davis acquired 1,800 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average cost of $28.19 per share, for a total transaction of $50,742.00. Following the purchase, the director now directly owns 3,264 shares in the company, valued at approximately $92,012.16. This represents a 122.95 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.43% of the company’s stock.

United Community Banks Stock Performance

UCB opened at $28.06 on Thursday. United Community Banks, Inc. has a twelve month low of $22.93 and a twelve month high of $35.38. The stock has a market cap of $3.35 billion, a PE ratio of 13.75 and a beta of 0.75. The business’s 50 day moving average is $27.19 and its 200-day moving average is $30.46. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.08.

United Community Banks Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a yield of 3.42%. United Community Banks’s dividend payout ratio (DPR) is presently 45.50%.

Wall Street Analysts Forecast Growth

UCB has been the subject of a number of research reports. Hovde Group upgraded United Community Banks from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $32.00 to $31.00 in a research note on Monday, April 7th. Keefe, Bruyette & Woods lowered their price target on United Community Banks from $35.00 to $32.00 and set a “market perform” rating for the company in a report on Wednesday, April 30th. Piper Sandler upped their price target on United Community Banks from $32.00 to $35.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. DA Davidson decreased their price objective on shares of United Community Banks from $38.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Finally, Stephens reaffirmed an “overweight” rating and set a $36.00 target price on shares of United Community Banks in a report on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $33.14.

United Community Banks 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.