Insider Buying: United Community Banks, Inc. (NASDAQ:UCB) Director Purchases 1,800 Shares of Stock

United Community Banks, Inc. (NASDAQ:UCB - Get Free Report) Director Sally Pope Davis purchased 1,800 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average price of $28.19 per share, for a total transaction of $50,742.00. Following the acquisition, the director now owns 3,264 shares in the company, valued at approximately $92,012.16. This trade represents a 122.95 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

United Community Banks Price Performance

NASDAQ:UCB traded up $0.17 during trading hours on Monday, reaching $28.64. 166,454 shares of the company traded hands, compared to its average volume of 537,656. The firm's 50-day moving average is $31.95 and its 200-day moving average is $31.14. The stock has a market cap of $3.42 billion, a P/E ratio of 14.03 and a beta of 0.90. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.78 and a quick ratio of 0.78. United Community Banks, Inc. has a 1-year low of $26.00 and a 1-year high of $35.38.

United Community Banks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Friday, March 14th. United Community Banks's dividend payout ratio (DPR) is 47.06%.

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Institutional Investors Weigh In On United Community Banks

Several hedge funds have recently made changes to their positions in UCB. Great Lakes Advisors LLC purchased a new position in United Community Banks in the fourth quarter valued at about $3,050,000. Patten & Patten Inc. TN purchased a new position in United Community Banks in the fourth quarter valued at about $255,000. Xponance Inc. purchased a new position in United Community Banks in the fourth quarter valued at about $278,000. Thrivent Financial for Lutherans purchased a new position in United Community Banks in the fourth quarter valued at about $3,243,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in United Community Banks in the fourth quarter valued at about $823,000. Institutional investors and hedge funds own 82.29% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Piper Sandler upped their price target on United Community Banks from $32.00 to $35.00 and gave the stock a "neutral" rating in a report on Thursday, January 23rd. Raymond James upgraded 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.

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.