Cibc World Markets Corp Purchases Shares of 11,194 United Community Banks, Inc. (NASDAQ:UCB)

Cibc World Markets Corp acquired a new position in shares of United Community Banks, Inc. (NASDAQ:UCB) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 11,194 shares of the company’s stock, valued at approximately $362,000.

Several other large investors have also modified their holdings of UCB. Swiss National Bank acquired a new position in United Community Banks during the fourth quarter worth approximately $7,573,000. Great Lakes Advisors LLC purchased a new position in shares of United Community Banks during the fourth quarter worth approximately $3,050,000. Natixis Advisors LLC acquired a new position in shares of United Community Banks in the 4th quarter valued at $498,000. Commonwealth Equity Services LLC acquired a new position in shares of United Community Banks in the 4th quarter valued at $273,000. Finally, Patten & Patten Inc. TN purchased a new stake in United Community Banks in the 4th quarter valued at $255,000. Institutional investors and hedge funds own 82.29% of the company’s stock.

United Community Banks Trading Up 3.3 %

Shares of UCB stock opened at $28.92 on Tuesday. United Community Banks, Inc. has a 1-year low of $26.00 and a 1-year high of $35.38. 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 business’s fifty day moving average price is $31.66 and its 200 day moving average price is $31.08. The firm has a market capitalization of $3.45 billion, a PE ratio of 14.17 and a beta of 0.90.

United Community Banks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.32%. United Community Banks’s dividend payout ratio is presently 47.06%.

Analyst Ratings Changes

A number of research firms have commented on UCB. Raymond James upgraded shares of United Community Banks from a “market perform” rating to an “outperform” rating and set a $35.00 price objective on the stock in a research note on Thursday, December 19th. Piper Sandler upped their price objective 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. Finally, Hovde Group decreased their price objective on 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.

Insider Activity at United Community Banks

In related news, EVP Richard Bradshaw sold 1,527 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $32.72, for a total value 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 trade represents a 2.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO H Lynn Harton sold 31,679 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $33.84, for a total value of $1,072,017.36. Following the sale, the chief executive officer now owns 112,444 shares in the company, valued at approximately $3,805,104.96. The trade was a 21.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

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.