1,236,397 Shares in United Community Banks, Inc. (NASDAQ:UCB) Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp bought a new position in shares of United Community Banks, Inc. (NASDAQ:UCB) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 1,236,397 shares of the company’s stock, valued at approximately $34,780,000. Bank of New York Mellon Corp owned approximately 1.04% of United Community Banks at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. acquired a new position in United Community Banks during the fourth quarter worth $31,000. Public Employees Retirement System of Ohio purchased a new position in United Community Banks in the fourth quarter valued at about $42,000. Versant Capital Management Inc acquired a new stake in United Community Banks during the first quarter valued at approximately $37,000. Quadrant Capital Group LLC acquired a new stake in shares of United Community Banks during the 4th quarter worth approximately $45,000. Finally, MassMutual Private Wealth & Trust FSB acquired a new stake in United Community Banks in the 1st quarter valued at approximately $45,000. Institutional investors and hedge funds own 82.29% of the company’s stock.

Analyst Ratings Changes

UCB has been the subject of a number of research analyst reports. Stephens restated an “overweight” rating and issued a $36.00 target price on shares of United Community Banks in a report on Wednesday, April 23rd. Keefe, Bruyette & Woods decreased their price objective on United Community Banks from $35.00 to $32.00 and set a “market perform” rating on the stock in a report on Wednesday, April 30th. Raymond James Financial reiterated a “market perform” rating on shares of United Community Banks in a research note on Tuesday, July 8th. DA Davidson dropped their price objective 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. Finally, Hovde Group raised shares of United Community Banks from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $32.00 to $31.00 in a report on Monday, April 7th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, United Community Banks currently has a consensus rating of “Hold” and an average price target of $33.14.

United Community Banks Stock Down 3.3%

Shares of UCB opened at $30.70 on Wednesday. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 15.05 and a beta of 0.78. 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 stock has a fifty day moving average of $29.44 and a 200-day moving average of $29.64.

United Community Banks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Sunday, June 15th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.13%. The ex-dividend date was Friday, June 13th. United Community Banks’s dividend payout ratio (DPR) is presently 45.50%.

About United Community Banks

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.