Quadrant Capital Group LLC Buys Shares of 1,389 United Community Banks, Inc. (NASDAQ:UCB)

Quadrant Capital Group LLC acquired a new position in shares of United Community Banks, Inc. (NASDAQ:UCB) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 1,389 shares of the company’s stock, valued at approximately $45,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. acquired a new position in United Community Banks in the fourth quarter worth approximately $450,141,000. Geode Capital Management LLC acquired a new position in shares of United Community Banks during the 4th quarter worth $88,397,000. Massachusetts Financial Services Co. MA acquired a new position in shares of United Community Banks during the 4th quarter worth $60,495,000. Norges Bank bought a new position in shares of United Community Banks during the 4th quarter valued at $42,837,000. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of United Community Banks in the 4th quarter valued at $27,535,000. 82.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Raymond James upgraded United Community Banks from a “market perform” rating to an “outperform” rating and set a $35.00 target price on the stock in a report on Thursday, December 19th. Piper Sandler boosted their target price on United Community Banks from $32.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Finally, Hovde Group upgraded United Community Banks from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $32.00 to $31.00 in a report on Monday, April 7th.

United Community Banks Trading Down 0.4 %

Shares of NASDAQ:UCB opened at $23.62 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.78 and a current ratio of 0.78. The stock’s 50-day moving average is $29.50 and its 200-day moving average is $30.72. The company has a market cap of $2.82 billion, a P/E ratio of 11.58 and a beta of 0.80. United Community Banks, Inc. has a 52-week low of $22.93 and a 52-week high of $35.38.

United Community Banks Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend was Friday, March 14th. United Community Banks’s dividend payout ratio is currently 47.06%.

Insider Transactions at United Community Banks

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

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.