Wells Fargo & Company MN Invests $6.39 Million in United Community Banks, Inc. (NASDAQ:UCB)

Wells Fargo & Company MN purchased a new stake in shares of United Community Banks, Inc. (NASDAQ:UCB) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 197,625 shares of the company’s stock, valued at approximately $6,385,000. Wells Fargo & Company MN owned about 0.17% of United Community Banks as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. bought a new position in shares of United Community Banks in the fourth quarter valued at approximately $31,000. Farther Finance Advisors LLC acquired a new position in United Community Banks in the fourth quarter worth $80,000. Lee Danner & Bass Inc. bought a new stake in shares of United Community Banks during the fourth quarter worth $174,000. Landscape Capital Management L.L.C. acquired a new stake in shares of United Community Banks in the fourth quarter valued at $219,000. Finally, Orion Portfolio Solutions LLC bought a new position in shares of United Community Banks in the fourth quarter valued at about $232,000. 82.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Piper Sandler increased their price objective 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 raised shares of United Community Banks from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $32.00 to $31.00 in a research note on Monday, April 7th.

Insider Activity at United Community Banks

In other news, Director Sally Pope Davis purchased 1,800 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average cost of $28.19 per share, for a total transaction of $50,742.00. Following the transaction, the director now directly owns 3,264 shares of the company’s stock, valued at approximately $92,012.16. The trade was a 122.95 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction of $1,072,017.36. Following the transaction, the chief executive officer now directly owns 112,444 shares in the company, valued at $3,805,104.96. The trade was a 21.98 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

United Community Banks Price Performance

Shares of UCB stock opened at $24.74 on Friday. 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 12 month low of $22.93 and a 12 month high of $35.38. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 12.13 and a beta of 0.80. The stock has a 50-day moving average price of $28.54 and a 200 day moving average price of $30.57.

United Community Banks Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date of this dividend was Friday, March 14th. United Community Banks’s dividend payout ratio (DPR) is 47.06%.

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.