Mutual of America Capital Management LLC Invests $489,000 in United Community Banks, Inc. (NASDAQ:UCB)

Mutual of America Capital Management LLC acquired a new position in shares of United Community Banks, Inc. (NASDAQ:UCB) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,382 shares of the company’s stock, valued at approximately $489,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. bought a new position in United Community Banks during the fourth quarter worth $450,141,000. FMR LLC bought a new position in shares of United Community Banks in the fourth quarter valued at $310,166,000. Dimensional Fund Advisors LP bought a new position in shares of United Community Banks in the fourth quarter valued at $195,766,000. Capital Research Global Investors bought a new position in shares of United Community Banks in the fourth quarter valued at $148,763,000. Finally, Earnest Partners LLC bought a new position in shares of United Community Banks in the fourth quarter valued at $113,536,000. 82.29% of the stock is currently owned by institutional investors and hedge funds.

United Community Banks Trading Down 0.3%

Shares of United Community Banks stock opened at $31.32 on Wednesday. The firm has a market cap of $3.81 billion, a PE ratio of 15.35 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.78 and a quick ratio of 0.78. United Community Banks, Inc. has a 1 year low of $22.93 and a 1 year high of $35.38. The company has a 50 day simple moving average of $29.66 and a two-hundred day simple moving average of $29.60.

United Community Banks Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Sunday, June 15th were issued a dividend of $0.24 per share. The ex-dividend date was Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a yield of 3.07%. United Community Banks’s dividend payout ratio is currently 45.50%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Raymond James Financial reiterated a “market perform” rating on shares of United Community Banks in a report on Tuesday, July 8th. Stephens reiterated 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 shares of 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. DA Davidson decreased 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 report on Wednesday, April 23rd. Finally, 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 report on Monday, April 7th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $33.14.

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.