United Community Banks (NASDAQ:UCB) Reaches New 12-Month Low – What’s Next?

United Community Banks, Inc. (NASDAQ:UCB)’s share 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 changing hands. The stock had previously closed at $27.91.

Analyst Upgrades and Downgrades

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

United Community Banks Price Performance

The company has a 50-day moving average of $31.08 and a 200 day moving average of $31.04. 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 stock has a market capitalization of $3.03 billion, a PE ratio of 12.45 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. Stockholders 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 dividend yield of 3.78%. The ex-dividend date is Friday, March 14th. United Community Banks’s dividend payout ratio (DPR) is 47.06%.

Insider Transactions at United Community Banks

In related news, Director Sally Pope Davis purchased 1,800 shares of the business’s 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 completion of the acquisition, the director now owns 3,264 shares in the company, valued at $92,012.16. This trade represents a 122.95 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value of $49,963.44. Following the transaction, the executive vice president now directly owns 67,876 shares in the company, valued at $2,220,902.72. This trade represents a 2.20 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On United Community Banks

Several hedge funds and other institutional investors have recently bought and sold shares of UCB. Nomura Asset Management Co. Ltd. purchased a new stake in shares of United Community Banks in the 4th quarter valued at approximately $31,000. Versant Capital Management Inc acquired a new position in United Community Banks in the first quarter valued at approximately $37,000. Public Employees Retirement System of Ohio purchased a new position in United Community Banks in the fourth quarter worth approximately $42,000. Quadrant Capital Group LLC acquired a new stake in United Community Banks during the fourth quarter worth $45,000. Finally, MassMutual Private Wealth & Trust FSB acquired a new stake in United Community Banks during the first quarter worth $45,000. 82.29% of the stock is currently owned by institutional investors and hedge funds.

About United Community Banks

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.