United Community Banks (NASDAQ:UCB) Sets New 12-Month Low – Here’s What Happened

United Community Banks, Inc. (NASDAQ:UCB)’s stock price reached a new 52-week low during trading on Thursday . The company traded as low as $25.48 and last traded at $25.60, with a volume of 134361 shares. The stock had previously closed at $27.91.

Analyst Ratings Changes

A number of analysts recently commented on UCB shares. Hovde Group dropped their price target on shares of United Community Banks from $36.00 to $32.00 and set a “market perform” rating on the stock in a research note on Thursday, March 20th. Piper Sandler increased their price target on shares of United Community Banks from $32.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Finally, Raymond James upgraded shares of 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 Price Performance

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 has a market cap of $2.89 billion, a P/E ratio of 11.85 and a beta of 0.80. The firm has a 50-day moving average price of $30.75 and a 200-day moving average price of $30.97.

United Community Banks Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.96 annualized dividend and a yield of 3.97%. United Community Banks’s dividend payout ratio (DPR) is presently 47.06%.

Insider Transactions at United Community Banks

In related news, Director Sally Pope Davis bought 1,800 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average cost of $28.19 per share, for a total transaction of $50,742.00. Following the completion of the transaction, the director now owns 3,264 shares of the company’s stock, valued at approximately $92,012.16. This trade represents a 122.95 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Richard Bradshaw sold 1,527 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $32.72, for a total transaction of $49,963.44. Following the completion of the transaction, the executive vice president now directly owns 67,876 shares of the company’s stock, valued at $2,220,902.72. This represents a 2.20 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On United Community Banks

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

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.