Great Lakes Advisors LLC Purchases New Holdings in United Community Banks, Inc. (NASDAQ:UCB)

Great Lakes Advisors LLC bought a new stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 94,399 shares of the company's stock, valued at approximately $3,050,000. Great Lakes Advisors LLC owned 0.08% of United Community Banks at the end of the most recent reporting period.

Separately, Farther Finance Advisors LLC purchased a new stake in United Community Banks in the fourth quarter valued at $80,000. Hedge funds and other institutional investors own 82.29% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on UCB shares. Piper Sandler upped their price target on shares of United Community Banks from $32.00 to $35.00 and gave the company a "neutral" rating in a report on Thursday, January 23rd. Raymond James raised shares of United Community Banks from a "market perform" rating to an "outperform" rating and set a $35.00 price target on the stock in a report on Thursday, December 19th.

Insider Transactions at United Community Banks

In related news, CEO H Lynn Harton sold 31,679 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 112,444 shares of the company's stock, valued at approximately $3,805,104.96. This trade represents a 21.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sally Pope Davis purchased 1,800 shares of the firm's stock in a transaction that occurred on 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 $92,012.16. This represents a 122.95 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.54% of the company's stock.

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United Community Banks Price Performance

Shares of UCB stock traded up $0.33 during mid-day trading on Wednesday, hitting $28.97. 1,338,242 shares of the stock were exchanged, compared to its average volume of 626,253. The firm has a fifty day moving average of $31.82 and a 200 day moving average of $31.12. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.08. United Community Banks, Inc. has a 52-week low of $24.04 and a 52-week high of $35.38. The company has a market cap of $3.46 billion, a PE ratio of 14.20 and a beta of 0.90.

United Community Banks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Friday, March 14th. United Community Banks's payout ratio is currently 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.