FMR LLC Discloses 7.583% Passive Stake in United Community Banks
Ticker: UCB · Form: SC 13G · Filed: Feb 9, 2024 · CIK: 857855
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, passive-investment, SC-13G
TL;DR
**FMR LLC just revealed a 7.583% passive stake in UCBI, a bullish signal from a major player.**
AI Summary
FMR LLC, a major investment management firm, and its principal owner, Abigail P. Johnson, have disclosed a significant passive stake in UNITED COMMUNITY BANKS INC (UCBI). As of December 31, 2023, FMR LLC beneficially owns 9,023,231 shares of UCBI's common stock, representing 7.583% of the company. This filing indicates a substantial, but passive, investment by a prominent institutional investor, suggesting confidence in the bank's long-term prospects without seeking to influence management.
Why It Matters
This matters to investors because a large, reputable institutional investor like FMR LLC taking a significant stake can signal a vote of confidence in the company's value and future, potentially attracting other investors.
Risk Assessment
Risk Level: low — This filing is a routine disclosure of a passive investment, indicating no immediate risks or changes in company control.
Analyst Insight
A smart investor would view this as a positive signal, indicating a large, sophisticated investor sees value in UCBI, and might consider further research into the company's fundamentals.
Key Numbers
- 9,023,231 — Shares Beneficially Owned (Represents the total common stock shares of UNITED COMMUNITY BANKS INC owned by FMR LLC and Abigail P. Johnson.)
- 7.583% — Percent of Class (Indicates the percentage of UNITED COMMUNITY BANKS INC's common stock that FMR LLC and Abigail P. Johnson collectively own.)
Key Players & Entities
- FMR LLC (company) — reporting person, parent holding company
- UNITED COMMUNITY BANKS INC (company) — issuer of the securities
- Abigail P. Johnson (person) — reporting person, principal owner of FMR LLC
- 9,023,231 (dollar_amount) — shares beneficially owned by FMR LLC and Abigail P. Johnson
- 7.583% (dollar_amount) — percentage of class owned by FMR LLC and Abigail P. Johnson
Forward-Looking Statements
- FMR LLC will maintain its passive investment in UNITED COMMUNITY BANKS INC. (FMR LLC) — high confidence, target: Next 12-24 months
- The significant institutional ownership by FMR LLC may attract further institutional interest in UCBI. (UNITED COMMUNITY BANKS INC) — medium confidence, target: Next 6-12 months
FAQ
Who is the reporting person in this SC 13G filing?
The reporting person in this SC 13G filing is FMR LLC, and also Abigail P. Johnson, who is associated with FMR LLC.
What is the name of the issuer whose securities are being reported?
The name of the issuer is UNITED COMMUNITY BANKS INC, with the CUSIP number 90984P303.
How many shares of UNITED COMMUNITY BANKS INC common stock does FMR LLC beneficially own?
FMR LLC beneficially owns 9,023,231 shares of UNITED COMMUNITY BANKS INC common stock, as stated in Item 4(a) of the filing.
What percentage of UNITED COMMUNITY BANKS INC's common stock does FMR LLC's ownership represent?
FMR LLC's ownership represents 7.583% of the class of UNITED COMMUNITY BANKS INC's common stock, as stated in Item 4(b) and Item 11 of the filing.
Under which rule is this Schedule 13G filed?
This Schedule 13G is filed pursuant to Rule 13d-1(b), as indicated by the checked box in the filing.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on February 9, 2024 by Abigail P. Johnson regarding UNITED COMMUNITY BANKS INC (UCB).