Kenneth L. Daniels Purchases 500 Shares of United Community Banks, Inc. (NASDAQ:UCB) Stock

United Community Banks, Inc. (NASDAQ:UCB) Director Kenneth L. Daniels bought 500 shares of the business’s stock in a transaction dated Monday, April 28th. The stock was bought at an average price of $27.23 per share, for a total transaction of $13,615.00. Following the purchase, the director now owns 2,500 shares in the company, valued at approximately $68,075. This represents a 25.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

United Community Banks Price Performance

UCB stock opened at $27.75 on Wednesday. The firm has a 50-day moving average of $27.62 and a two-hundred day moving average of $30.53. The firm has a market capitalization of $3.31 billion, a PE ratio of 13.60 and a beta of 0.80. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.08. United Community Banks, Inc. has a one year low of $22.93 and a one year high of $35.38.

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 paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend was Friday, March 14th. United Community Banks’s dividend payout ratio is 45.50%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on UCB shares. DA Davidson reduced their price objective on United Community Banks from $38.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Stephens reaffirmed an “overweight” rating and set a $36.00 price target on shares of United Community Banks in a report on Wednesday, April 23rd. Piper Sandler upped their price objective on shares of United Community Banks from $32.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Finally, Hovde Group raised United Community Banks from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $32.00 to $31.00 in a research note on Monday, April 7th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.33.

Hedge Funds Weigh In On United Community Banks

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. acquired a new stake in shares of United Community Banks in the fourth quarter worth $450,141,000. FMR LLC purchased a new stake in United Community Banks in the 4th quarter worth about $310,166,000. Dimensional Fund Advisors LP acquired a new stake in United Community Banks during the 4th quarter worth about $195,766,000. Capital Research Global Investors purchased a new position in United Community Banks during the 4th quarter valued at about $148,763,000. Finally, Earnest Partners LLC acquired a new position in shares of United Community Banks in the 4th quarter valued at about $113,536,000. 82.29% of the stock is currently owned by hedge funds and other institutional investors.

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.