Hovde Group Cuts United Community Banks (NASDAQ:UCB) Price Target to $32.00

United Community Banks (NASDAQ:UCB) had its price target cut by Hovde Group from $36.00 to $32.00 in a research note released on Thursday morning, MarketBeat reports. They currently have a market perform rating on the stock.

UCB has been the subject of a number of other reports. Piper Sandler increased their price target on United Community Banks from $32.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Raymond James raised United Community Banks from a “market perform” rating to an “outperform” rating and set a $35.00 target price for the company in a research report on Thursday, December 19th.

United Community Banks Stock Performance

Shares of United Community Banks stock opened at $27.94 on Thursday. United Community Banks has a one year low of $26.00 and a one year high of $35.38. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of 13.70 and a beta of 0.90. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.78 and a quick ratio of 0.78. The stock’s 50-day moving average is $31.68 and its 200-day moving average is $31.07.

United Community Banks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.44%. The ex-dividend date is Friday, March 14th. United Community Banks’s dividend payout ratio is currently 47.06%.

Insider Buying and Selling

In other United Community Banks news, Director Sally Pope Davis purchased 1,800 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was purchased at an average cost of $28.19 per share, for a total transaction of $50,742.00. Following the acquisition, the director now owns 3,264 shares in the company, valued at approximately $92,012.16. The trade was a 122.95 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Richard Bradshaw sold 1,527 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $32.72, for a total value of $49,963.44. Following the sale, the executive vice president now owns 67,876 shares of the company’s stock, valued at approximately $2,220,902.72. The trade was a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

Institutional Trading of United Community Banks

A number of large investors have recently bought and sold shares of the business. Nomura Asset Management Co. Ltd. acquired a new stake in United Community Banks during the 4th quarter worth about $31,000. Public Employees Retirement System of Ohio acquired a new stake in shares of United Community Banks in the 4th quarter valued at about $42,000. Quadrant Capital Group LLC acquired a new stake in shares of United Community Banks in the 4th quarter valued at about $45,000. Tower Research Capital LLC TRC acquired a new stake in shares of United Community Banks in the 4th quarter valued at about $59,000. Finally, Farther Finance Advisors LLC acquired a new stake in shares of United Community Banks in the 4th quarter valued at about $80,000. 82.29% of the stock is currently owned by institutional investors and hedge funds.

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.