Rather & Kittrell Inc. Acquires Shares of 18,744 United Community Banks, Inc. (NASDAQ:UCB)

Rather & Kittrell Inc. bought a new position in United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 18,744 shares of the company's stock, valued at approximately $606,000.

Several other large investors have also added to or reduced their stakes in UCB. Farther Finance Advisors LLC purchased a new position in United Community Banks during the fourth quarter worth about $80,000. Great Lakes Advisors LLC purchased a new position in United Community Banks during the 4th quarter valued at about $3,050,000. Swiss National Bank bought a new position in United Community Banks in the 4th quarter valued at $7,573,000. Commonwealth Equity Services LLC purchased a new stake in United Community Banks in the fourth quarter valued at approximately $273,000. Finally, Natixis Advisors LLC purchased a new position in United Community Banks in the 4th quarter worth approximately $498,000. Institutional investors own 82.29% of the company's stock.

Insider Buying and Selling

In other United Community Banks news, CEO H Lynn Harton sold 31,679 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $33.84, for a total value of $1,072,017.36. Following the completion of the transaction, the chief executive officer now directly owns 112,444 shares in the company, valued at approximately $3,805,104.96. This represents a 21.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Richard Bradshaw sold 1,527 shares of United Community Banks 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 sale, the executive vice president now directly owns 67,876 shares in the company, valued at $2,220,902.72. The trade was a 2.20 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

United Community Banks Trading Down 1.9 %

UCB traded down $0.47 during midday trading on Monday, reaching $24.32. 77,912 shares of the company's stock traded hands, compared to its average volume of 665,511. United Community Banks, Inc. has a 52 week low of $22.93 and a 52 week high of $35.38. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a fifty day moving average of $28.54 and a two-hundred day moving average of $30.60. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of 11.92 and a beta of 0.80.

United Community Banks Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were issued a dividend of $0.24 per share. The ex-dividend date was Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.95%. United Community Banks's dividend payout ratio is presently 47.06%.

Analyst Upgrades and Downgrades

UCB has been the topic of several recent research reports. Hovde Group upgraded United Community Banks from a "market perform" rating to an "outperform" rating and reduced their price objective for the company from $32.00 to $31.00 in a research report on Monday, April 7th. Piper Sandler boosted 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.

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.