United Community Banks (NASDAQ:UCB) Hits New 12-Month Low – Here’s Why

by · The Cerbat Gem

United Community Banks, Inc. (NASDAQ:UCB – Get Free Report)’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 trading hands. The stock had previously closed at $27.91.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Hovde Group reduced 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. Piper Sandler upped their price objective on shares of 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, Raymond James raised shares of United Community Banks from a “market perform” rating to an “outperform” rating and set a $35.00 target price on the stock in a research note on Thursday, December 19th.

Read Our Latest Analysis on UCB

United Community Banks Stock Down 5.0 %

The firm has a market cap of $2.89 billion, a PE ratio of 11.85 and a beta of 0.80. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average price of $30.75 and a two-hundred day moving average price of $30.97.

United Community Banks Announces Dividend

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

Insider Buying and Selling

In other news, CEO H Lynn Harton sold 31,679 shares of United Community Banks stock in a transaction dated Monday, February 10th. The shares were 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 of the company’s stock, valued at $3,805,104.96. The trade was a 21.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sally Pope Davis acquired 1,800 shares of United Community Banks stock in a transaction that occurred 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 transaction, the director now owns 3,264 shares of the company’s stock, valued at $92,012.16. This trade 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

Large 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 valued at $31,000. Public Employees Retirement System of Ohio purchased a new stake in shares of United Community Banks in the fourth quarter valued at $42,000. Versant Capital Management Inc acquired a new stake in shares of United Community Banks during the first quarter valued at $37,000. Quadrant Capital Group LLC purchased a new stake in United Community Banks during the 4th quarter worth about $45,000. Finally, MassMutual Private Wealth & Trust FSB acquired a new position in United Community Banks in the 1st quarter valued at about $45,000. 82.29% of the stock is owned by hedge funds and other institutional investors.

United Community Banks Company Profile

(Get Free Report)

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.

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