Rather & Kittrell Inc. Invests $606,000 in United Community Banks, Inc. (NASDAQ:UCB)

Rather & Kittrell Inc. acquired a new stake in United Community Banks, Inc. (NASDAQ:UCB) in the 4th quarter, Holdings Channel reports. The firm acquired 18,744 shares of the company’s stock, valued at approximately $606,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. acquired a new stake in shares of United Community Banks during the 4th quarter worth about $31,000. Quadrant Capital Group LLC acquired a new position in United Community Banks during the 4th quarter worth approximately $45,000. Farther Finance Advisors LLC acquired a new stake in shares of United Community Banks during the fourth quarter valued at about $80,000. Sterling Capital Management LLC acquired a new stake in shares of United Community Banks during the fourth quarter worth approximately $124,000. Finally, Lee Danner & Bass Inc. bought a new stake in United Community Banks in the fourth quarter valued at about $174,000. 82.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on UCB. Piper Sandler raised 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 objective on the stock in a report on Thursday, December 19th. Finally, Hovde Group upgraded shares of United Community Banks from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $32.00 to $31.00 in a report on Monday, April 7th.

Insider Transactions at United Community Banks

In other United Community Banks news, CEO H Lynn Harton sold 31,679 shares of United Community Banks stock in a transaction that occurred 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. The trade was a 21.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Richard Bradshaw sold 1,527 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $32.72, for a total value of $49,963.44. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

United Community Banks Stock Performance

UCB opened at $24.54 on Wednesday. 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 company has a market cap of $2.93 billion, a PE ratio of 12.03 and a beta of 0.80. The stock has a 50-day moving average of $29.10 and a 200-day moving average of $30.66. United Community Banks, Inc. has a 52-week low of $22.93 and a 52-week high of $35.38.

United Community Banks Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date was Friday, March 14th. United Community Banks’s dividend payout ratio is 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.