StoneX Group Inc. Makes New $1.37 Million Investment in United Community Banks, Inc. (NASDAQ:UCB)

StoneX Group Inc. purchased a new stake in United Community Banks, Inc. (NASDAQ:UCB) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 42,048 shares of the company’s stock, valued at approximately $1,369,000.

Several other hedge funds have also recently modified their holdings of the business. Nomura Asset Management Co. Ltd. purchased a new position in United Community Banks during the fourth quarter valued at approximately $31,000. Farther Finance Advisors LLC bought a new stake in United Community Banks during the 4th quarter valued at $80,000. Lee Danner & Bass Inc. purchased a new position in shares of United Community Banks in the 4th quarter valued at $174,000. Orion Portfolio Solutions LLC purchased a new stake in shares of United Community Banks during the 4th quarter worth $232,000. Finally, Patten & Patten Inc. TN purchased a new position in shares of United Community Banks in the 4th quarter worth approximately $255,000. Hedge funds and other institutional investors own 82.29% of the company’s stock.

Insider Buying and Selling

In related news, CEO H Lynn Harton sold 31,679 shares of the business’s 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. The trade was a 21.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sally Pope Davis purchased 1,800 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $28.19 per share, for a total transaction of $50,742.00. Following the completion of the transaction, the director now directly owns 3,264 shares in the company, 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 currently owned by company insiders.

United Community Banks Trading Down 1.4 %

Shares of United Community Banks stock opened at $27.73 on Wednesday. The firm’s 50 day simple moving average is $31.18 and its two-hundred day simple moving average is $31.07. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 13.59 and a beta of 0.90. United Community Banks, Inc. has a 12-month low of $26.00 and a 12-month high of $35.38. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.08.

United Community Banks Announces Dividend

The company also recently announced 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. This represents a $0.96 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Friday, March 14th. United Community Banks’s payout ratio is 47.06%.

Analyst Ratings Changes

UCB has been the subject of several recent analyst reports. Hovde Group lowered their target price 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. 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 research report on Thursday, December 19th. Finally, Piper Sandler upped their target price 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.

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.