Vanguard Trims UCBI Stake to 7.8% from 8.9%

TL;DR

**Vanguard just cut its stake in United Community Banks to 7.8%, down from 8.9%.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended Schedule 13G/A on February 13, 2024, indicating a change in its ownership of United Community Banks Inc/GA (UCBI) common stock. As of December 29, 2023, Vanguard reported beneficial ownership of 7,720,000 shares, representing 7.8% of the company's outstanding common stock. This is a decrease from their previous reported ownership of 8.9% in their last filing, which means Vanguard has reduced its stake in UCBI. This matters to investors because a large institutional investor like Vanguard reducing its position could signal a shift in their outlook on the company's future performance or valuation.

Why It Matters

A significant institutional investor like Vanguard reducing its holdings in United Community Banks Inc. could suggest a less bullish outlook, potentially influencing other investors' perceptions and the stock's performance.

Risk Assessment

Risk Level: medium — While not a massive sell-off, a large institutional investor reducing its stake can introduce uncertainty and potentially downward pressure on the stock.

Analyst Insight

Investors should monitor future institutional ownership filings for United Community Banks Inc. and consider if Vanguard's reduced stake aligns with their own investment thesis or if it signals a potential concern. It's prudent to research the reasons behind such a large fund's decision, though they are not disclosed in this filing.

Key Numbers

• 7,720,000 — Shares Beneficially Owned (Vanguard's total shares in United Community Banks Inc. as of December 29, 2023.)
• 7.8% — Percentage of Class (Vanguard's current ownership percentage, indicating a decrease from previous filings.)

Key Players & Entities

• The Vanguard Group (company) — reporting person, institutional investor
• United Community Banks Inc/GA (company) — issuer of the securities
• 7,720,000 shares (dollar_amount) — number of shares beneficially owned by Vanguard
• 7.8% (dollar_amount) — percentage of class beneficially owned by Vanguard as of December 29, 2023
• 8.9% (dollar_amount) — previous percentage of class beneficially owned by Vanguard (implied from prior filings)
• December 29, 2023 (date) — date of event requiring the filing
• February 13, 2024 (date) — filing date of the SC 13G/A

Forward-Looking Statements

• Other institutional investors may review their positions in United Community Banks Inc. following Vanguard's reduction. (United Community Banks Inc/GA) — medium confidence, target: Q1 2024
• The stock price of United Community Banks Inc. could experience minor downward pressure or increased volatility in the short term. (United Community Banks Inc/GA) — low confidence, target: Next 1-3 months

FAQ

Filing Documents

• tv02154-unitedcommunitybanks.htm (SC 13G/A) — 11KB
• 0001104659-24-022176.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: United Community Banks Inc/GA

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 125 Highway 515 East Blairsville, GA 30512

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 90984P303

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR