Thoroughbred Financial Services LLC Takes $1.13 Million Position in United Community Banks, Inc. (NASDAQ:UCB)

Thoroughbred Financial Services LLC acquired a new position in shares of United Community Banks, Inc. (NASDAQ:UCB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 35,053 shares of the company’s stock, valued at approximately $1,132,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in UCB. ExodusPoint Capital Management LP purchased a new stake in shares of United Community Banks during the 4th quarter worth approximately $735,000. Massachusetts Financial Services Co. MA purchased a new stake in United Community Banks during the fourth quarter worth $60,495,000. Geode Capital Management LLC purchased a new stake in United Community Banks during the fourth quarter worth $88,397,000. StoneX Group Inc. acquired a new stake in United Community Banks in the fourth quarter valued at $1,369,000. Finally, Family Legacy Inc. purchased a new position in shares of United Community Banks in the fourth quarter valued at $1,240,000. 82.29% of the stock is currently owned by institutional investors and hedge funds.

United Community Banks Trading Down 5.0 %

Shares of UCB stock opened at $24.18 on Friday. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of 11.85 and a beta of 0.80. 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 50-day moving average price of $30.75 and a 200 day moving average price of $30.98. United Community Banks, Inc. has a twelve month low of $23.41 and a twelve month high of $35.38.

United Community Banks Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on UCB shares. Raymond James upgraded shares of United Community Banks from a “market perform” rating to an “outperform” rating and set a $35.00 price objective on the stock in a research report on Thursday, December 19th. Piper Sandler upped their price target on shares of United Community Banks from $32.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Finally, Hovde Group dropped 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 note on Thursday, March 20th.

Insider Buying and Selling

In related news, Director Sally Pope Davis acquired 1,800 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $28.19 per share, with a total value of $50,742.00. Following the purchase, the director now directly owns 3,264 shares in the company, valued at $92,012.16. The trade was a 122.95 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Richard Bradshaw sold 1,527 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $32.72, for a total transaction of $49,963.44. Following the transaction, the executive vice president now owns 67,876 shares in the company, valued at approximately $2,220,902.72. The trade was a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by company insiders.

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.