Rhumbline Advisers Acquires New Holdings in United Community Banks, Inc. (NASDAQ:UCB)

Rhumbline Advisers acquired a new stake in shares of United Community Banks, Inc. (NASDAQ:UCB) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 348,967 shares of the company’s stock, valued at approximately $9,816,000. Rhumbline Advisers owned approximately 0.29% of United Community Banks as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in UCB. Bank of Montreal Can bought a new stake in shares of United Community Banks in the 4th quarter worth approximately $508,000. Quantinno Capital Management LP bought a new position in shares of United Community Banks in the fourth quarter valued at $3,191,000. Cetera Investment Advisers acquired a new stake in shares of United Community Banks during the fourth quarter worth $329,000. Focus Partners Wealth acquired a new stake in shares of United Community Banks during the fourth quarter worth $308,000. Finally, Nuveen Asset Management LLC acquired a new stake in shares of United Community Banks during the fourth quarter worth $10,415,000. 82.29% of the stock is currently owned by institutional investors.

United Community Banks Stock Performance

Shares of UCB opened at $29.49 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.08. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 14.45 and a beta of 0.78. United Community Banks, Inc. has a 12 month low of $22.93 and a 12 month high of $35.38. The company’s fifty day moving average is $27.29 and its 200-day moving average is $30.21.

United Community Banks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Sunday, June 15th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date is Friday, June 13th. United Community Banks’s dividend payout ratio is 45.50%.

Analyst Ratings Changes

Several analysts have issued reports on UCB shares. Hovde Group upgraded United Community Banks from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $32.00 to $31.00 in a report on Monday, April 7th. DA Davidson cut their price target on shares of United Community Banks from $38.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Stephens restated an “overweight” rating and set a $36.00 price target on shares of United Community Banks in a report on Wednesday, April 23rd. Finally, Keefe, Bruyette & Woods cut their target price 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. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.14.

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.