United Community Banks (NASDAQ:UCB) Hits New 12-Month Low – Should You Sell?

Shares of United Community Banks, Inc. (NASDAQ:UCB) hit a new 52-week low on Wednesday . The stock traded as low as $23.38 and last traded at $23.68, with a volume of 1005584 shares traded. The stock had previously closed at $24.10.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on UCB shares. Piper Sandler increased their price objective on shares of United Community Banks from $32.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Hovde Group upgraded shares of United Community Banks from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $32.00 to $31.00 in a research report on Monday. Finally, Raymond James upgraded United Community Banks from a “market perform” rating to an “outperform” rating and set a $35.00 price objective on the stock in a report on Thursday, December 19th.

United Community Banks Stock Performance

The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.08. The firm’s fifty day moving average price is $29.70 and its 200 day moving average price is $30.76. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of 11.58 and a beta of 0.80.

United Community Banks Announces Dividend

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

Insiders Place Their Bets

In other United Community Banks news, EVP Richard Bradshaw sold 1,527 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $32.72, for a total transaction 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. This trade represents a 2.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sally Pope Davis purchased 1,800 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average price of $28.19 per share, for a total transaction of $50,742.00. Following the completion of the purchase, the director now directly owns 3,264 shares in the company, valued at $92,012.16. This represents a 122.95 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On United Community Banks

A number of institutional investors have recently modified their holdings of the business. Nomura Asset Management Co. Ltd. acquired a new stake in United Community Banks during the 4th quarter worth approximately $31,000. Public Employees Retirement System of Ohio acquired a new position in United Community Banks in the 4th quarter valued at $42,000. Versant Capital Management Inc purchased a new position in United Community Banks during the 1st quarter worth $37,000. Quadrant Capital Group LLC purchased a new stake in shares of United Community Banks in the fourth quarter valued at about $45,000. Finally, MassMutual Private Wealth & Trust FSB acquired a new position in shares of United Community Banks during the first quarter worth about $45,000. 82.29% of the stock is 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.