United Community Banks, Inc. (NASDAQ:UCB) Director Buys $50,742.00 in Stock

United Community Banks, Inc. (NASDAQ:UCB) Director Sally Pope Davis bought 1,800 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average price of $28.19 per share, for a total transaction of $50,742.00. Following the completion of the transaction, the director now owns 3,264 shares in the company, valued at $92,012.16. This represents a 122.95 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

United Community Banks Price Performance

NASDAQ:UCB opened at $28.53 on Friday. The firm has a market cap of $3.41 billion, a PE ratio of 13.98 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 quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average price is $31.95 and its two-hundred day moving average price is $31.14.

United Community Banks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a yield of 3.37%. United Community Banks’s dividend payout ratio (DPR) is presently 47.06%.

Hedge Funds Weigh In On United Community Banks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UCB. Farther Finance Advisors LLC acquired a new position in shares of United Community Banks during the fourth quarter worth approximately $80,000. Great Lakes Advisors LLC bought a new stake in shares of United Community Banks during the fourth quarter worth approximately $3,050,000. Swiss National Bank bought a new stake in United Community Banks in the fourth quarter valued at approximately $7,573,000. Commonwealth Equity Services LLC bought a new stake in United Community Banks in the fourth quarter valued at approximately $273,000. Finally, Natixis Advisors LLC bought a new stake in United Community Banks in the fourth quarter valued at approximately $498,000. 82.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on UCB. Raymond James upgraded shares of United Community Banks from a “market perform” rating to an “outperform” rating and set a $35.00 target price on the stock in a research report on Thursday, December 19th. Piper Sandler lifted their target price on shares of 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.