Wellington Management Group LLP Makes New Investment in United Community Banks, Inc. (NASDAQ:UCB)

Wellington Management Group LLP acquired a new position in shares of United Community Banks, Inc. (NASDAQ:UCB) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 355,683 shares of the company’s stock, valued at approximately $11,492,000. Wellington Management Group LLP owned about 0.30% of United Community Banks at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Corebridge Financial Inc. bought a new stake in United Community Banks during the 4th quarter worth about $2,057,000. Thrivent Financial for Lutherans bought a new stake in United Community Banks during the 4th quarter worth about $3,243,000. Swiss National Bank bought a new stake in United Community Banks during the 4th quarter worth about $7,573,000. Great Lakes Advisors LLC bought a new stake in United Community Banks during the 4th quarter worth about $3,050,000. Finally, Advantage Alpha Capital Partners LP bought a new stake in United Community Banks during the 4th quarter worth about $638,000. 82.29% of the stock is owned by institutional investors.

Insider Activity at United Community Banks

In other United Community Banks news, EVP Richard Bradshaw sold 1,527 shares of the company’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 transaction of $49,963.44. Following the completion of the transaction, the executive vice president now 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO H Lynn Harton sold 31,679 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 112,444 shares of the company’s stock, valued at approximately $3,805,104.96. This trade represents a 21.98 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.

United Community Banks Price Performance

Shares of UCB opened at $25.44 on Thursday. 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 50 day simple moving average of $29.87 and a 200 day simple moving average of $30.79. United Community Banks, Inc. has a 52-week low of $23.21 and a 52-week high of $35.38. The firm has a market capitalization of $3.04 billion, a PE ratio of 12.47 and a beta of 0.80.

United Community Banks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were given a $0.24 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 3.77%. United Community Banks’s dividend payout ratio is presently 47.06%.

Analyst Ratings Changes

A number of brokerages have recently commented on UCB. Hovde Group raised 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 research note on Monday. Raymond James raised United Community Banks from a “market perform” rating to an “outperform” rating and set a $35.00 price target for the company in a research note on Thursday, December 19th. Finally, Piper Sandler upped their price target 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.

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.