268,515 Shares in United Community Banks, Inc. (NASDAQ:UCB) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new stake in United Community Banks, Inc. (NASDAQ:UCB) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 268,515 shares of the company’s stock, valued at approximately $8,675,000. Raymond James Financial Inc. owned about 0.23% of United Community Banks as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Legal & General Group Plc bought a new stake in shares of United Community Banks during the fourth quarter worth $10,686,000. Invesco Ltd. bought a new stake in United Community Banks during the 4th quarter worth $46,960,000. Bank of Montreal Can acquired a new position in United Community Banks in the 4th quarter worth about $508,000. Cerity Partners LLC acquired a new stake in shares of United Community Banks during the fourth quarter valued at about $271,000. Finally, FMR LLC bought a new stake in shares of United Community Banks during the fourth quarter worth about $310,166,000. Institutional investors and hedge funds own 82.29% of the company’s stock.

United Community Banks Trading Down 0.6 %

UCB opened at $27.94 on Friday. The stock has a market cap of $3.34 billion, a PE ratio of 13.70 and a beta of 0.90. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.08. United Community Banks, Inc. has a twelve month low of $26.00 and a twelve month high of $35.38. The company has a fifty day moving average of $31.68 and a 200-day moving average of $31.07.

United Community Banks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Friday, March 14th. United Community Banks’s dividend payout ratio is 47.06%.

Insider Activity at United Community Banks

In other news, CEO H Lynn Harton sold 31,679 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $33.84, for a total transaction of $1,072,017.36. Following the transaction, the chief executive officer now owns 112,444 shares in the company, valued at approximately $3,805,104.96. This represents a 21.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Richard Bradshaw sold 1,527 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were 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 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.

Wall Street Analysts Forecast Growth

UCB has been the topic of several recent research reports. Piper Sandler lifted their target price on shares of United Community Banks from $32.00 to $35.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Raymond James upgraded shares of United Community Banks from a “market perform” rating to an “outperform” rating and set a $35.00 price target on the stock in a report on Thursday, December 19th. Finally, Hovde Group lowered their target price on United Community Banks from $36.00 to $32.00 and set a “market perform” rating for the company in a research report on Thursday.

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.