Invesco Ltd. Makes New $46.96 Million Investment in United Community Banks, Inc. (NASDAQ:UCB)

Invesco Ltd. purchased a new stake in United Community Banks, Inc. (NASDAQ:UCB) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,453,431 shares of the company’s stock, valued at approximately $46,960,000. Invesco Ltd. owned approximately 1.22% of United Community Banks as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in UCB. Nomura Asset Management Co. Ltd. bought a new position in shares of United Community Banks during the 4th quarter worth approximately $31,000. Quadrant Capital Group LLC acquired a new stake in United Community Banks in the 4th quarter valued at $45,000. Farther Finance Advisors LLC acquired a new position in shares of United Community Banks during the 4th quarter worth about $80,000. Lee Danner & Bass Inc. bought a new position in shares of United Community Banks in the 4th quarter valued at about $174,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in shares of United Community Banks in the fourth quarter valued at about $219,000. Institutional investors and hedge funds own 82.29% of the company’s stock.

United Community Banks Stock Up 3.0 %

UCB stock opened at $24.54 on Wednesday. United Community Banks, Inc. has a 1-year low of $22.93 and a 1-year high of $35.38. The business’s 50 day simple moving average is $29.10 and its 200 day simple moving average is $30.66. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $2.93 billion, a PE ratio of 12.03 and a beta of 0.80.

United Community Banks Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 3.91%. United Community Banks’s dividend payout ratio is currently 47.06%.

Analyst Upgrades and Downgrades

UCB has been the subject of a number of analyst reports. Piper Sandler raised 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. 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 report on Thursday, December 19th. Finally, Hovde Group upgraded shares of United Community Banks from a “market perform” rating to an “outperform” rating and cut their price target for the company from $32.00 to $31.00 in a research note on Monday, April 7th.

Insider Activity

In other United Community Banks news, CEO H Lynn Harton sold 31,679 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $33.84, for a total transaction of $1,072,017.36. Following the completion of the sale, the chief executive officer now directly owns 112,444 shares in the company, valued at $3,805,104.96. This trade represents a 21.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Richard Bradshaw sold 1,527 shares of the business’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 sale, the executive vice president now owns 67,876 shares of the company’s stock, valued at approximately $2,220,902.72. This 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.

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.