United Community Banks (NASDAQ:UCB) Sees Large Volume Increase – Here’s What Happened

United Community Banks, Inc. (NASDAQ:UCB) shares saw unusually-high trading volume on Tuesday . Approximately 2,484,465 shares were traded during trading, an increase of 259% from the previous session’s volume of 691,633 shares.The stock last traded at $28.72 and had previously closed at $28.93.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Raymond James raised United Community Banks from a “market perform” rating to an “outperform” rating and set a $35.00 price objective for the company in a report on Thursday, December 19th. Piper Sandler increased their price target on shares of United Community Banks from $32.00 to $35.00 and gave the stock a “neutral” rating in a research note 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 on the stock in a research note on Thursday, March 20th.

United Community Banks Trading Down 0.8 %

The stock has a market capitalization of $3.43 billion, a PE ratio of 14.07 and a beta of 0.90. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.78 and a current ratio of 0.78. The business’s 50-day moving average is $31.66 and its two-hundred day moving average is $31.08.

United Community Banks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a yield of 3.34%. United Community Banks’s payout ratio is currently 47.06%.

Insider Buying and Selling at United Community Banks

In other news, EVP Richard Bradshaw sold 1,527 shares of the stock in a transaction dated 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 $2,220,902.72. This trade represents a 2.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sally Pope Davis acquired 1,800 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $28.19 per share, with a total value of $50,742.00. Following the completion of the purchase, the director now directly owns 3,264 shares in the company, valued at $92,012.16. This represents a 122.95 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On United Community Banks

Several institutional investors and hedge funds have recently modified their holdings of the company. Nomura Asset Management Co. Ltd. acquired a new position in United Community Banks in the fourth quarter valued at $31,000. Public Employees Retirement System of Ohio acquired a new position in shares of United Community Banks during the 4th quarter valued at about $42,000. Quadrant Capital Group LLC acquired a new stake in shares of United Community Banks in the fourth quarter worth approximately $45,000. Tower Research Capital LLC TRC purchased a new stake in United Community Banks in the fourth quarter valued at approximately $59,000. Finally, Farther Finance Advisors LLC acquired a new position in United Community Banks during the fourth quarter worth approximately $80,000. Hedge funds and other institutional investors own 82.29% 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.