OneAscent Wealth Management LLC Buys Shares of 10,790 United Community Banks, Inc. (NASDAQ:UCB)

OneAscent Wealth Management LLC purchased a new position in shares of United Community Banks, Inc. (NASDAQ:UCB) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 10,790 shares of the company’s stock, valued at approximately $349,000.

Several other hedge funds also recently modified their holdings of UCB. Orion Portfolio Solutions LLC acquired a new position in shares of United Community Banks during the fourth quarter valued at about $232,000. Pictet Asset Management Holding SA bought a new stake in shares of United Community Banks in the 4th quarter worth approximately $471,000. Nomura Asset Management Co. Ltd. bought a new stake in shares of United Community Banks in the 4th quarter worth approximately $31,000. New Age Alpha Advisors LLC acquired a new stake in shares of United Community Banks during the 4th quarter worth approximately $560,000. Finally, Norges Bank bought a new stake in shares of United Community Banks during the fourth quarter valued at approximately $42,837,000. 82.29% of the stock is owned by institutional investors.

United Community Banks Stock Down 2.6 %

Shares of NASDAQ UCB opened at $27.81 on Friday. The business has a fifty day moving average of $31.38 and a two-hundred day moving average of $31.04. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.78 and a current ratio of 0.78. United Community Banks, Inc. has a 52-week low of $26.00 and a 52-week high of $35.38. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, March 14th. This represents a $0.96 annualized dividend and a yield of 3.45%. United Community Banks’s dividend payout ratio is 47.06%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on UCB. Raymond James raised United Community Banks from a “market perform” rating to an “outperform” rating and set a $35.00 target price for the company in a research report on Thursday, December 19th. Hovde Group decreased their target price on shares of United Community Banks from $36.00 to $32.00 and set a “market perform” rating on the stock in a research report on Thursday, March 20th. Finally, Piper Sandler raised their price target on shares of United Community Banks from $32.00 to $35.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd.

Insider Transactions at United Community Banks

In related news, EVP Richard Bradshaw sold 1,527 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $32.72, for a total transaction of $49,963.44. Following the transaction, the executive vice president now owns 67,876 shares in the company, valued at $2,220,902.72. This represents a 2.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO H Lynn Harton sold 31,679 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $33.84, for a total transaction of $1,072,017.36. Following the completion of the transaction, the chief executive officer now directly owns 112,444 shares of the company’s stock, valued at approximately $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. Company insiders own 0.54% of the company’s stock.

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.