329,800 Shares in United Community Banks, Inc. (NASDAQ:UCB) Purchased by Ameriprise Financial Inc.

Ameriprise Financial Inc. acquired a new stake in United Community Banks, Inc. (NASDAQ:UCB) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 329,800 shares of the company’s stock, valued at approximately $10,658,000. Ameriprise Financial Inc. owned 0.28% of United Community Banks as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. purchased a new stake in United Community Banks during the 4th quarter worth about $450,141,000. FMR LLC bought a new stake in shares of United Community Banks during the fourth quarter valued at about $310,166,000. Dimensional Fund Advisors LP bought a new stake in shares of United Community Banks during the fourth quarter valued at about $195,766,000. Capital Research Global Investors purchased a new stake in shares of United Community Banks in the fourth quarter worth about $148,763,000. Finally, Earnest Partners LLC bought a new position in shares of United Community Banks in the fourth quarter valued at approximately $113,536,000. 82.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on UCB. Piper Sandler lifted their price objective on United Community Banks from $32.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods dropped their price target on United Community Banks from $35.00 to $32.00 and set a “market perform” rating for the company in a research report on Wednesday, April 30th. Hovde Group upgraded shares of United Community Banks from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $32.00 to $31.00 in a research report on Monday, April 7th. Stephens reiterated an “overweight” rating and set a $36.00 target price on shares of United Community Banks in a research report on Wednesday, April 23rd. Finally, DA Davidson cut their price target 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 issued a buy rating to the company’s stock. According to MarketBeat, United Community Banks presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.14.

Insider Buying and Selling

In other news, Director Sally Pope Davis purchased 1,800 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average cost 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. This represents a 122.95% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.43% of the stock is owned by corporate insiders.

United Community Banks Price Performance

Shares of United Community Banks stock opened at $29.53 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.78 and a current ratio of 0.78. United Community Banks, Inc. has a 52-week low of $22.93 and a 52-week high of $35.38. The company has a fifty day moving average of $27.16 and a 200-day moving average of $30.55. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of 14.48 and a beta of 0.75.

United Community Banks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Sunday, June 15th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend is Friday, June 13th. United Community Banks’s dividend payout ratio (DPR) is presently 45.50%.

United Community Banks Company 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.