Insider Selling: United Community Banks, Inc. (NASDAQ:UCB) CEO Sells 31,679 Shares of Stock

United Community Banks, Inc. (NASDAQ:UCB - Get Free Report) CEO H Lynn Harton sold 31,679 shares of the company's stock in a transaction on 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 sale, the chief executive officer now owns 112,444 shares of the company's stock, valued at $3,805,104.96. This represents a 21.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

United Community Banks Stock Down 0.1 %

Shares of NASDAQ UCB traded down $0.05 on Friday, reaching $33.42. 454,550 shares of the company's stock traded hands, compared to its average volume of 628,901. 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 company has a 50 day moving average of $32.61. United Community Banks, Inc. has a 12 month low of $24.04 and a 12 month high of $35.38. The stock has a market cap of $3.99 billion, a P/E ratio of 16.38 and a beta of 0.92.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Keel Point LLC bought a new position in shares of United Community Banks during the fourth quarter valued at $524,000. Jane Street Group LLC bought a new stake in United Community Banks during the 4th quarter valued at about $1,772,000. Comerica Bank bought a new stake in United Community Banks during the 4th quarter valued at about $1,342,000. Northern Trust Corp purchased a new position in United Community Banks in the fourth quarter worth about $45,527,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of United Community Banks in the fourth quarter worth approximately $2,131,000. Hedge funds and other institutional investors own 82.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on UCB. Piper Sandler lifted their price objective 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. Truist Financial reduced their price objective on shares of United Community Banks from $32.00 to $30.00 and set a "hold" rating on the stock in a research report on Friday, October 25th. Finally, Raymond James raised shares of United Community Banks from a "market perform" rating to an "outperform" rating and set a $35.00 price objective on the stock in a research 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.