Synovus Financial Corp Buys Shares of 27,296 United Community Banks, Inc. (NASDAQ:UCB)

Synovus Financial Corp purchased a new position in shares of United Community Banks, Inc. (NASDAQ:UCB) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 27,296 shares of the company’s stock, valued at approximately $882,000.

A number of other institutional investors have also modified their holdings of the company. Nomura Asset Management Co. Ltd. acquired a new stake in United Community Banks during the 4th quarter worth approximately $31,000. Quadrant Capital Group LLC purchased a new stake in shares of United Community Banks during the fourth quarter worth $45,000. Farther Finance Advisors LLC acquired a new stake in shares of United Community Banks in the fourth quarter valued at $80,000. Sterling Capital Management LLC acquired a new stake in shares of United Community Banks in the fourth quarter valued at $124,000. Finally, Lee Danner & Bass Inc. acquired a new position in United Community Banks during the 4th quarter worth $174,000. 82.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

United Community Banks Price Performance

Shares of NASDAQ UCB opened at $24.70 on Thursday. The stock’s 50-day simple moving average is $28.91 and its 200-day simple moving average is $30.62. The firm has a market capitalization of $2.95 billion, a PE ratio of 12.11 and a beta of 0.80. United Community Banks, Inc. has a fifty-two week low of $22.93 and a fifty-two week 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 3.89%. United Community Banks’s dividend payout ratio is presently 47.06%.

Insider Activity

In other United Community Banks news, CEO H Lynn Harton sold 31,679 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $33.84, for a total value of $1,072,017.36. Following the completion of the sale, the chief executive officer now owns 112,444 shares in the company, valued at approximately $3,805,104.96. The trade was a 21.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sally Pope Davis bought 1,800 shares of the stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average price of $28.19 per share, for a total transaction of $50,742.00. Following the completion of the transaction, the director now owns 3,264 shares of the company’s stock, valued at approximately $92,012.16. The trade was a 122.95 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.54% of the company’s stock.

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.