Family Legacy Inc. Invests $1.24 Million in United Community Banks, Inc. (NASDAQ:UCB)

Family Legacy Inc. acquired a new stake in United Community Banks, Inc. (NASDAQ:UCB) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 39,843 shares of the company’s stock, valued at approximately $1,240,000.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on UCB shares. Piper Sandler upped their target price 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. Hovde Group lowered their price objective on United Community Banks from $36.00 to $32.00 and set a “market perform” rating for the company in a research note on Thursday, March 20th. Finally, Raymond James upgraded United Community Banks from a “market perform” rating to an “outperform” rating and set a $35.00 target price on the stock in a report on Thursday, December 19th.

Insiders Place Their Bets

In related news, EVP Richard Bradshaw sold 1,527 shares of United Community Banks stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $32.72, for a total value of $49,963.44. Following the completion of the sale, the executive vice president now owns 67,876 shares of the company’s stock, valued at approximately $2,220,902.72. This trade represents a 2.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO H Lynn Harton sold 31,679 shares of the business’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 completion of the sale, the chief executive officer now owns 112,444 shares in the company, valued at $3,805,104.96. This represents a 21.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

United Community Banks Stock Down 2.6 %

United Community Banks stock opened at $27.81 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a market cap of $3.32 billion, a PE ratio of 13.63 and a beta of 0.90. United Community Banks, Inc. has a fifty-two week low of $26.00 and a fifty-two week high of $35.38. The firm’s 50-day simple moving average is $31.38 and its 200 day simple moving average is $31.08.

United Community Banks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a yield of 3.45%. United Community Banks’s dividend payout ratio (DPR) is currently 47.06%.

United Community Banks Company Profile

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.