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

United Community Banks, Inc. (NASDAQ:UCB) CEO H Lynn Harton sold 31,679 shares of the business’s stock in a transaction on Monday, February 10th. The stock was 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 $3,805,104.96. This trade represents a 21.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

United Community Banks Stock Up 1.9 %

Shares of UCB opened at $34.53 on Wednesday. United Community Banks, Inc. has a 12-month low of $24.04 and a 12-month high of $35.38. The stock has a 50-day moving average price of $32.62. 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 firm has a market cap of $4.12 billion, a PE ratio of 16.93 and a beta of 0.92.

United Community Banks Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Monday, December 16th were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.96 dividend on an annualized basis and a yield of 2.78%. United Community Banks’s payout ratio is presently 47.06%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on UCB shares. Raymond James raised United Community Banks from a “market perform” rating to an “outperform” rating and set a $35.00 price target for the company in a report on Thursday, December 19th. Piper Sandler boosted 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. Finally, Truist Financial lowered their price target on United Community Banks from $32.00 to $30.00 and set a “hold” rating for the company in a report on Friday, October 25th.

Hedge Funds Weigh In On United Community Banks

Institutional investors and hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC acquired a new position in United Community Banks in the 4th quarter worth about $80,000. Lee Danner & Bass Inc. acquired a new position in United Community Banks in the 4th quarter worth about $174,000. Patten & Patten Inc. TN acquired a new stake in shares of United Community Banks in the fourth quarter valued at about $255,000. Commonwealth Equity Services LLC acquired a new stake in shares of United Community Banks in the fourth quarter valued at about $273,000. Finally, Xponance Inc. acquired a new stake in shares of United Community Banks in the fourth quarter valued at about $278,000. Institutional investors and hedge funds own 82.29% of the company’s stock.

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.