Jane Street Group LLC Acquires New Holdings in United Community Banks, Inc. (NASDAQ:UCB)

Jane Street Group LLC acquired a new stake in shares of United Community Banks, Inc. (NASDAQ:UCB) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 54,839 shares of the company’s stock, valued at approximately $1,772,000.

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

Analysts Set New Price Targets

UCB has been the subject of several research analyst reports. DA Davidson dropped 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 report on Wednesday, April 23rd. Piper Sandler boosted their price objective 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. Stephens restated an “overweight” rating and issued a $36.00 price objective on shares of United Community Banks in a report on Wednesday, April 23rd. Hovde Group upgraded shares of United Community Banks from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from $32.00 to $31.00 in a report on Monday, April 7th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of 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. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $33.14.

United Community Banks Stock Down 0.3%

Shares of United Community Banks stock opened at $29.69 on Friday. 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 company’s fifty day simple moving average is $27.14 and its two-hundred day simple moving average is $30.53. The company has a market cap of $3.55 billion, a P/E ratio of 14.55 and a beta of 0.75. United Community Banks, Inc. has a 12-month low of $22.93 and a 12-month high of $35.38.

United Community Banks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Sunday, June 15th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Friday, June 13th. United Community Banks’s payout ratio is currently 45.50%.

Insider Buying and Selling at United Community Banks

In other United Community Banks news, Director Sally Pope Davis bought 1,800 shares of United Community Banks stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average cost of $28.19 per share, with a total value of $50,742.00. Following the transaction, the director now directly owns 3,264 shares of the company’s stock, valued at $92,012.16. This represents a 122.95% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.43% of the company’s stock.

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.