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

Wells Fargo & Company MN purchased a new position in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 197,625 shares of the company's stock, valued at approximately $6,385,000. Wells Fargo & Company MN owned 0.17% of United Community Banks as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the business. Farther Finance Advisors LLC bought a new stake 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 fourth quarter valued at $3,050,000. Swiss National Bank bought a new stake in shares of United Community Banks in the 4th quarter worth approximately $7,573,000. Commonwealth Equity Services LLC purchased a new position in United Community Banks during the fourth quarter valued at $273,000. Finally, Natixis Advisors LLC bought a new stake in United Community Banks in the fourth quarter worth $498,000. 82.29% of the stock is owned by hedge funds and other institutional investors.

United Community Banks Stock Up 0.6 %

United Community Banks stock traded up $0.15 during mid-day trading on Thursday, reaching $26.78. 94,749 shares of the company were exchanged, compared to its average volume of 672,388. United Community Banks, Inc. has a 12-month low of $22.93 and a 12-month high of $35.38. The business has a fifty day moving average of $28.08 and a 200 day moving average of $30.52. 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 firm has a market cap of $3.20 billion, a P/E ratio of 13.13 and a beta of 0.80.

United Community Banks Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend was Friday, March 14th. United Community Banks's payout ratio is 47.06%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Hovde Group upgraded shares of United Community Banks from a "market perform" rating to an "outperform" rating and dropped their price target for the stock from $32.00 to $31.00 in a research note on Monday, April 7th. DA Davidson reduced their target price on United Community Banks from $38.00 to $33.00 and set a "buy" rating for the company in a report on Wednesday. Stephens reaffirmed an "overweight" rating and set a $36.00 price target on shares of United Community Banks in a report on Wednesday. Finally, Piper Sandler lifted their price objective on United Community Banks from $32.00 to $35.00 and gave the stock a "neutral" rating in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, United Community Banks presently has an average rating of "Moderate Buy" and a consensus target price of $33.33.

Insider Buying and Selling

In other United Community Banks news, Director Sally Pope Davis acquired 1,800 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $28.19 per share, with a total value of $50,742.00. Following the completion of the acquisition, the director now owns 3,264 shares in the company, valued at approximately $92,012.16. This trade represents a 122.95 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO H Lynn Harton sold 31,679 shares of the firm'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 completion of the transaction, the chief executive officer now directly owns 112,444 shares in the company, valued at $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. 0.54% of the stock is currently owned by company insiders.

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.