Aristotle Capital Boston LLC cut its stake in shares of United Community Banks, Inc. (NYSE:UCB – Free Report) by 9.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 472,296 shares of the company’s stock after selling 49,358 shares during the quarter. Aristotle Capital Boston LLC’s holdings in United Community Banks were worth $14,745,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Covestor Ltd grew its holdings in shares of United Community Banks by 196.1% during the 4th quarter. Covestor Ltd now owns 992 shares of the company’s stock valued at $31,000 after purchasing an additional 657 shares during the last quarter. Torren Management LLC bought a new stake in shares of United Community Banks during the 4th quarter valued at approximately $39,000. First Horizon Corp grew its holdings in shares of United Community Banks by 51.7% during the 4th quarter. First Horizon Corp now owns 1,315 shares of the company’s stock valued at $41,000 after purchasing an additional 448 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of United Community Banks during the 4th quarter valued at approximately $42,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of United Community Banks by 130.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,951 shares of the company’s stock valued at $58,000 after purchasing an additional 1,106 shares during the last quarter. 82.29% of the stock is owned by institutional investors.
United Community Banks Stock Down 2.3%
Shares of NYSE UCB opened at $32.53 on Thursday. The company has a market capitalization of $3.89 billion, a P/E ratio of 11.96 and a beta of 0.82. United Community Banks, Inc. has a 52-week low of $27.23 and a 52-week high of $36.77. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.82 and a current ratio of 0.82. The company’s 50 day moving average price is $33.31 and its 200-day moving average price is $32.86.
United Community Banks Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, July 3rd. Stockholders of record on Monday, June 15th will be given a $0.25 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.1%. United Community Banks’s payout ratio is 36.76%.
Insider Activity
In other news, EVP Richard Bradshaw sold 1,510 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $33.09, for a total value of $49,965.90. Following the transaction, the executive vice president owned 84,497 shares in the company, valued at approximately $2,796,005.73. The trade was a 1.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.45% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on UCB shares. Wall Street Zen raised shares of United Community Banks from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. DA Davidson lifted their price target on shares of United Community Banks from $39.00 to $40.00 and gave the company a “buy” rating in a report on Monday. Weiss Ratings lowered shares of United Community Banks from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday. Keefe, Bruyette & Woods raised shares of United Community Banks from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $36.00 to $40.00 in a report on Thursday, April 9th. Finally, Zacks Research lowered shares of United Community Banks from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.40.
Get Our Latest Research Report on UCB
About United Community Banks
United Community Banks, Inc (NYSE: UCB) is a bank holding company headquartered in Blairsville, Georgia. It operates primarily through its subsidiary, United Community Bank, providing a broad range of banking and financial services to individual, business and governmental customers. The company’s core offerings include deposit accounts, commercial and consumer lending, mortgage origination, treasury and cash management services, and wealth management.
In addition to traditional banking products such as checking, savings and money market accounts, United Community Bank specializes in commercial real estate financing, small business administration (SBA) loans, equipment financing and agricultural lending.
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