Legal & General Group Plc Purchases Shares of 330,235 United Community Banks, Inc. (NASDAQ:UCB)

Legal & General Group Plc bought a new position in United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 330,235 shares of the company's stock, valued at approximately $10,686,000. Legal & General Group Plc owned about 0.28% of United Community Banks as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Nomura Asset Management Co. Ltd. purchased a new position in United Community Banks during the 4th quarter worth approximately $31,000. Quadrant Capital Group LLC purchased a new position in shares of United Community Banks during the fourth quarter valued at $45,000. Farther Finance Advisors LLC acquired a new position in United Community Banks during the fourth quarter valued at $80,000. Lee Danner & Bass Inc. purchased a new stake in United Community Banks in the 4th quarter worth about $174,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in United Community Banks during the 4th quarter worth about $219,000. 82.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at United Community Banks

In related news, Director Sally Pope Davis purchased 1,800 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $28.19 per share, for a total transaction of $50,742.00. Following the purchase, the director now owns 3,264 shares in the company, valued at $92,012.16. The trade was a 122.95 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO H Lynn Harton sold 31,679 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $33.84, for a total value of $1,072,017.36. Following the completion of the transaction, the chief executive officer now directly owns 112,444 shares in the company, valued at $3,805,104.96. The trade was a 21.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company's stock.

United Community Banks Stock Up 0.4 %

UCB stock traded up $0.09 during mid-day trading on Friday, hitting $24.74. The stock had a trading volume of 1,063,249 shares, compared to its average volume of 668,807. United Community Banks, Inc. has a 1-year low of $22.93 and a 1-year high of $35.38. The company has a fifty day moving average of $28.54 and a 200 day moving average of $30.57. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 12.13 and a beta of 0.80.

United Community Banks Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Hovde Group upgraded United Community Banks from a "market perform" rating to an "outperform" rating and dropped their target price for the company from $32.00 to $31.00 in a report on Monday, April 7th. Piper Sandler upped their price objective 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.

United Community Banks Profile

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.