Swiss National Bank Makes New $7.57 Million Investment in United Community Banks, Inc. (NASDAQ:UCB)

Swiss National Bank purchased a new position in shares of United Community Banks, Inc. (NASDAQ:UCB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 234,400 shares of the company’s stock, valued at approximately $7,573,000. Swiss National Bank owned 0.20% of United Community Banks at the end of the most recent reporting period.

Separately, Farther Finance Advisors LLC purchased a new stake in United Community Banks during the 4th quarter worth about $80,000. Institutional investors and hedge funds own 82.29% of the company’s stock.

Insider Activity at United Community Banks

In related news, EVP Richard Bradshaw sold 1,527 shares of the company’s stock in a transaction dated 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sally Pope Davis bought 1,800 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $28.19 per share, with a total value of $50,742.00. Following the completion of the transaction, the director now owns 3,264 shares in the company, valued at approximately $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.

United Community Banks Trading Down 0.6 %

NASDAQ:UCB opened at $27.94 on Friday. The stock has a 50-day simple moving average of $31.68 and a 200-day simple moving average of $31.07. The stock has a market cap of $3.34 billion, a P/E ratio of 13.70 and a beta of 0.90. 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 quick ratio of 0.78 and a current ratio of 0.78.

United Community Banks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be given a $0.24 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.44%. United Community Banks’s dividend payout ratio (DPR) is presently 47.06%.

Wall Street Analyst Weigh In

UCB has been the subject of several analyst reports. Hovde Group lowered 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. Piper Sandler upped their price objective 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, Raymond James raised United Community Banks from a “market perform” rating to an “outperform” rating and set a $35.00 price objective for the company in a research report on Thursday, December 19th.

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.