State Street Amends United Community Banks Stake to 5.0%
Ticker: UCB · Form: SC 13G/A · Filed: Jan 24, 2024 · CIK: 857855
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**State Street just updated its passive 5.0% stake in United Community Banks.**
AI Summary
State Street Corporation, a major financial institution, has updated its ownership stake in United Community Banks Inc. As of December 31, 2023, State Street reported beneficial ownership of 5.0% of United Community Banks' common stock. This filing, an amendment to a previous SC 13G, indicates a change in their passive investment position, which matters to investors as large institutional holdings can influence stock stability and investor confidence.
Why It Matters
Large institutional ownership, like State Street's 5.0% stake, can signal confidence in a company and provide a degree of stability to its stock price.
Risk Assessment
Risk Level: low — This filing is a routine update from a passive institutional investor and does not indicate any immediate significant risk.
Analyst Insight
Investors should note State Street's continued passive stake as a sign of institutional confidence, but this filing alone doesn't suggest immediate buying or selling action.
Key Numbers
- 5.0% — Beneficial Ownership (State Street Corporation's reported ownership percentage of United Community Banks Inc common stock as of December 31, 2023.)
- 12/31/2023 — Date of Event (The date that triggered the requirement for this SC 13G/A filing.)
Key Players & Entities
- State Street Corporation (company) — the reporting person and institutional investor
- United Community Banks Inc (company) — the subject company whose securities are being reported
- 04-2456637 (number) — State Street Corporation's IRS Identification No.
- 90984P303 (number) — CUSIP number for United Community Banks Inc common stock
Forward-Looking Statements
- State Street Corporation will maintain a significant, passive stake in United Community Banks Inc. (State Street Corporation) — high confidence, target: Next 12-18 months
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G filing, indicating a change in previously reported beneficial ownership.
Who is the reporting person in this filing?
The reporting person is State Street Corporation, identified with IRS Identification No. 04-2456637.
What is the subject company whose securities are being reported?
The subject company is UNITED COMMUNITY BANKS INC/GA, with the CUSIP number 90984P303 for its Common Stock.
What was the date of the event that required this filing?
The date of the event which required the filing of this statement was December 31, 2023.
Under which rule is this Schedule 13G/A filed?
This Schedule 13G/A is filed under Rule 13D-1 (B), as indicated by the 'X' in the appropriate box.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 24, 2024 regarding UNITED COMMUNITY BANKS INC (UCB).