GAMMA Investing LLC Invests $132,000 in United Community Banks, Inc. (NASDAQ:UCB)

GAMMA Investing LLC bought a new position in United Community Banks, Inc. (NASDAQ:UCB) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,694 shares of the company’s stock, valued at approximately $132,000.

Other hedge funds have also modified their holdings of the company. Nomura Asset Management Co. Ltd. acquired a new position in shares of United Community Banks in the 4th quarter worth approximately $31,000. Public Employees Retirement System of Ohio acquired a new position in shares of United Community Banks in the 4th quarter worth approximately $42,000. Versant Capital Management Inc acquired a new position in shares of United Community Banks in the 1st quarter worth approximately $37,000. Quadrant Capital Group LLC acquired a new position in shares of United Community Banks in the 4th quarter worth approximately $45,000. Finally, MassMutual Private Wealth & Trust FSB acquired a new stake in United Community Banks during the 1st quarter valued at $45,000. 82.29% of the stock is owned by institutional investors and hedge funds.

United Community Banks Price Performance

United Community Banks stock opened at $31.79 on Friday. The business’s 50-day simple moving average is $28.97 and its 200 day simple moving average is $29.67. 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 stock has a market cap of $3.86 billion, a price-to-earnings ratio of 15.58 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.

United Community Banks Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Sunday, June 15th were given a $0.24 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a yield of 3.02%. United Community Banks’s payout ratio is 45.50%.

Analyst Ratings Changes

A number of research firms recently weighed in on UCB. DA Davidson dropped their price target on United Community Banks from $38.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, April 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 report on Wednesday, April 30th. Hovde Group raised United Community Banks from a “market perform” rating to an “outperform” rating and dropped their price target for the company from $32.00 to $31.00 in a report on Monday, April 7th. Finally, Stephens reaffirmed an “overweight” rating and set a $36.00 price target on shares of United Community Banks in a report 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.