Family Legacy Inc. Buys New Shares in United Community Banks, Inc. (NASDAQ:UCB)

Family Legacy Inc. bought a new stake in shares of 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 firm bought 39,843 shares of the company's stock, valued at approximately $1,240,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Nomura Asset Management Co. Ltd. purchased a new position in United Community Banks during the fourth quarter valued at $31,000. Farther Finance Advisors LLC purchased a new position in United Community Banks in the 4th quarter valued at about $80,000. Lee Danner & Bass Inc. acquired a new stake in United Community Banks in the 4th quarter worth about $174,000. Orion Portfolio Solutions LLC purchased a new stake in United Community Banks during the 4th quarter worth approximately $232,000. Finally, Patten & Patten Inc. TN acquired a new position in shares of United Community Banks during the fourth quarter valued at approximately $255,000. Hedge funds and other institutional investors own 82.29% of the company's stock.

Insider Transactions at United Community Banks

In other United Community Banks news, CEO H Lynn Harton sold 31,679 shares of United Community Banks 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 in the company, valued at $3,805,104.96. This trade represents a 21.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sally Pope Davis purchased 1,800 shares of United Community Banks stock in a transaction dated Tuesday, March 11th. The stock was bought at an average cost of $28.19 per share, for a total transaction of $50,742.00. Following the completion of the purchase, the director now directly owns 3,264 shares in the company, valued at approximately $92,012.16. This trade represents a 122.95 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.54% of the company's stock.

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Wall Street Analysts Forecast Growth

UCB has been the subject of several research reports. Piper Sandler boosted their price target on United Community Banks from $32.00 to $35.00 and gave the stock a "neutral" rating in a research report on Thursday, January 23rd. Raymond James upgraded shares of United Community Banks from a "market perform" rating to an "outperform" rating and set a $35.00 target price for the company in a research report on Thursday, December 19th. Finally, Hovde Group lowered their price target on shares of United Community Banks from $36.00 to $32.00 and set a "market perform" rating on the stock in a research report on Thursday, March 20th.

United Community Banks Trading Down 6.8 %

Shares of NASDAQ UCB traded down $1.74 during trading on Friday, hitting $23.72. 442,269 shares of the company were exchanged, compared to its average volume of 632,535. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.78 and a current ratio of 0.78. United Community Banks, Inc. has a 12-month low of $23.42 and a 12-month high of $35.38. The company has a fifty day moving average price of $30.93 and a 200-day moving average price of $31.01. The firm has a market capitalization of $2.83 billion, a PE ratio of 11.61 and a beta of 0.80.

United Community Banks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be paid a $0.24 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 4.05%. United Community Banks's dividend payout ratio (DPR) is 47.06%.

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.