Massachusetts Financial Services Co. MA Makes New Investment in United Community Banks, Inc. (NASDAQ:UCB)

Massachusetts Financial Services Co. MA purchased a new stake in United Community Banks, Inc. (NASDAQ:UCB) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,872,318 shares of the company’s stock, valued at approximately $60,495,000.

Other large investors have also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. acquired a new position in United Community Banks during the 4th quarter worth about $31,000. Farther Finance Advisors LLC acquired a new stake in shares of United Community Banks during the fourth quarter worth about $80,000. Lee Danner & Bass Inc. purchased a new position in shares of United Community Banks in the fourth quarter valued at approximately $174,000. Orion Portfolio Solutions LLC acquired a new position in shares of United Community Banks in the fourth quarter valued at approximately $232,000. Finally, Patten & Patten Inc. TN purchased a new stake in United Community Banks during the 4th quarter worth approximately $255,000. 82.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at United Community Banks

In other news, EVP Richard Bradshaw sold 1,527 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $32.72, for a total value of $49,963.44. Following the completion of the transaction, the executive vice president now owns 67,876 shares in the company, valued at approximately $2,220,902.72. This represents a 2.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO H Lynn Harton sold 31,679 shares of the stock in a transaction 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 transaction, 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 disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

United Community Banks Price Performance

Shares of UCB opened at $24.18 on Friday. 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’s fifty day simple moving average is $30.75 and its 200-day simple moving average is $30.98. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 11.85 and a beta of 0.80. 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 firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date was Friday, March 14th. United Community Banks’s dividend payout ratio (DPR) is 47.06%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Piper Sandler raised their price target on shares of 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 lowered their target price on 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. Finally, Raymond James upgraded United Community Banks from a “market perform” rating to an “outperform” rating and set a $35.00 price target on the stock in a report on Thursday, December 19th.

United Community Banks 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.