Teacher Retirement System of Texas Purchases New Stake in United Community Banks, Inc. (NASDAQ:UCB)

Teacher Retirement System of Texas acquired a new position in shares of United Community Banks, Inc. (NASDAQ:UCB) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,148 shares of the company’s stock, valued at approximately $539,000.

A number of other large investors have also recently bought and sold shares of the company. Peregrine Capital Management LLC bought a new stake in shares of United Community Banks during the 1st quarter worth $5,634,000. New York State Teachers Retirement System acquired a new position in United Community Banks during the first quarter worth about $2,897,000. Amalgamated Bank bought a new position in shares of United Community Banks in the first quarter worth about $957,000. KBC Group NV acquired a new stake in shares of United Community Banks in the 1st quarter valued at approximately $179,000. Finally, Oakworth Capital Inc. acquired a new stake in shares of United Community Banks in the 1st quarter valued at approximately $156,000. 82.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

UCB has been the subject of several research reports. Keefe, Bruyette & Woods dropped 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 research note on Wednesday, April 30th. Hovde Group upgraded shares of United Community Banks from a “market perform” rating to an “outperform” rating and lowered their price target for the stock from $32.00 to $31.00 in a report on Monday, April 7th. 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 research note on Wednesday, April 23rd. Stephens restated an “overweight” rating and set a $36.00 price objective on shares of United Community Banks in a research report on Wednesday, April 23rd. Finally, Raymond James Financial reiterated a “market perform” rating on shares of United Community Banks in a research report on Tuesday, July 8th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, United Community Banks presently has an average rating of “Hold” and an average target price of $33.14.

United Community Banks Stock Performance

Shares of United Community Banks stock opened at $30.97 on Thursday. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of 15.18 and a beta of 0.78. United Community Banks, Inc. has a twelve month low of $22.93 and a twelve month high of $35.38. The company’s fifty day moving average is $29.50 and its 200 day moving average is $29.65. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.08.

United Community Banks Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Sunday, June 15th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend was Friday, June 13th. United Community Banks’s payout ratio is presently 45.50%.

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.