197,625 Shares in United Community Banks, Inc. (NASDAQ:UCB) Purchased by Wells Fargo & Company MN

Wells Fargo & Company MN purchased a new stake in United Community Banks, Inc. (NASDAQ:UCB) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 197,625 shares of the company’s stock, valued at approximately $6,385,000.

Several other institutional investors have also recently made changes to their positions in UCB. Nomura Asset Management Co. Ltd. acquired a new stake in shares of United Community Banks in the 4th quarter valued at approximately $31,000. Farther Finance Advisors LLC bought a new stake in United Community Banks during the fourth quarter worth $80,000. Lee Danner & Bass Inc. bought a new stake in United Community Banks during the fourth quarter worth $174,000. Landscape Capital Management L.L.C. acquired a new stake in United Community Banks in the fourth quarter valued at $219,000. Finally, Orion Portfolio Solutions LLC bought a new position in shares of United Community Banks in the 4th quarter valued at about $232,000. Institutional investors and hedge funds own 82.29% of the company’s stock.

United Community Banks Price Performance

Shares of UCB opened at $24.74 on Friday. The company’s 50-day moving average is $28.54 and its 200-day moving average is $30.57. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market capitalization of $2.95 billion, a PE ratio of 12.13 and a beta of 0.80. United Community Banks, Inc. has a fifty-two week low of $22.93 and a fifty-two week high of $35.38.

United Community Banks Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.96 annualized dividend and a yield of 3.88%. United Community Banks’s dividend payout ratio is currently 47.06%.

Insiders Place Their Bets

In other news, EVP Richard Bradshaw sold 1,527 shares of United Community Banks stock in a transaction on Monday, January 27th. The stock was sold at an average price of $32.72, for a total transaction of $49,963.44. Following the completion of the sale, the executive vice president now owns 67,876 shares of the company’s stock, valued at approximately $2,220,902.72. This trade represents a 2.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO H Lynn Harton sold 31,679 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 112,444 shares of the company’s stock, valued at approximately $3,805,104.96. The trade was a 21.98 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Piper Sandler raised 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 note on Thursday, January 23rd. Hovde Group upgraded United Community Banks from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $32.00 to $31.00 in a research note on Monday, April 7th.

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.