Commonwealth of Pennsylvania Public School Empls Retrmt SYS Purchases New Shares in United Community Banks, Inc. (NASDAQ:UCB)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in United Community Banks, Inc. (NASDAQ:UCB) during the fourth quarter, HoldingsChannel reports. The fund acquired 25,466 shares of the company’s stock, valued at approximately $823,000.

Several other large investors have also recently added to or reduced their stakes in the company. Great Lakes Advisors LLC acquired a new position in shares of United Community Banks in the fourth quarter valued at about $3,050,000. Swiss National Bank bought a new stake in United Community Banks in the 4th quarter valued at about $7,573,000. Maryland State Retirement & Pension System acquired a new position in shares of United Community Banks during the 4th quarter worth approximately $1,301,000. Cibc World Markets Corp bought a new position in shares of United Community Banks during the fourth quarter worth approximately $362,000. Finally, Farther Finance Advisors LLC acquired a new stake in shares of United Community Banks in the fourth quarter valued at approximately $80,000. Institutional investors own 82.29% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Richard Bradshaw sold 1,527 shares of the business’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 sale, the executive vice president now owns 67,876 shares in the company, valued at $2,220,902.72. The trade was a 2.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Sally Pope Davis bought 1,800 shares of the company’s 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 completion of the transaction, the director now directly owns 3,264 shares of the company’s stock, valued at approximately $92,012.16. The trade was a 122.95 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.54% of the company’s stock.

United Community Banks Trading Up 0.3 %

Shares of UCB stock opened at $28.74 on Thursday. United Community Banks, Inc. has a fifty-two week low of $26.00 and a fifty-two week high of $35.38. The stock’s fifty day moving average price is $31.54 and its two-hundred day moving average price is $31.07. 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 company has a market cap of $3.43 billion, a PE ratio of 14.09 and a beta of 0.90.

United Community Banks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Friday, March 14th. United Community Banks’s dividend payout ratio is presently 47.06%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Raymond James raised United Community Banks from a “market perform” rating to an “outperform” rating and set a $35.00 price target on the stock in a research report on Thursday, December 19th. Piper Sandler raised their price target on United Community Banks from $32.00 to $35.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Finally, Hovde Group cut their price objective on shares of United Community Banks from $36.00 to $32.00 and set a “market perform” rating for the company in a research report on Thursday, March 20th.

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.