Thrivent Financial for Lutherans Makes New Investment in United Community Banks, Inc. (NASDAQ:UCB)

Thrivent Financial for Lutherans acquired a new stake in shares of United Community Banks, Inc. (NASDAQ:UCB) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 100,368 shares of the company’s stock, valued at approximately $3,243,000.

Several other hedge funds have also recently made changes to their positions in UCB. Great Lakes Advisors LLC purchased a new stake in United Community Banks during the 4th quarter valued at about $3,050,000. Swiss National Bank acquired a new stake in shares of United Community Banks during the fourth quarter worth about $7,573,000. Cibc World Markets Corp purchased a new stake in United Community Banks in the fourth quarter valued at approximately $362,000. Farther Finance Advisors LLC acquired a new position in United Community Banks in the 4th quarter worth approximately $80,000. Finally, Patten & Patten Inc. TN purchased a new position in United Community Banks during the 4th quarter worth approximately $255,000. 82.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at United Community Banks

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

United Community Banks Stock Performance

UCB opened at $28.74 on Thursday. The stock has a market cap of $3.43 billion, a P/E ratio of 14.09 and a beta of 0.90. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a fifty day moving average price of $31.54 and a 200 day moving average price of $31.07. United Community Banks, Inc. has a 1 year low of $26.00 and a 1 year high of $35.38.

United Community Banks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date is Friday, March 14th. United Community Banks’s dividend payout ratio (DPR) is presently 47.06%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Raymond James raised 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 report on Thursday, December 19th. Hovde Group cut their price target on United Community Banks from $36.00 to $32.00 and set a “market perform” rating on the stock in a research report on Thursday, March 20th. Finally, Piper Sandler boosted their price objective on United Community Banks from $32.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd.

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.