40,271 Shares in United Community Banks, Inc. (NASDAQ:UCB) Acquired by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System acquired a new position in United Community Banks, Inc. (NASDAQ:UCB) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 40,271 shares of the company’s stock, valued at approximately $1,301,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC purchased a new position in United Community Banks in the fourth quarter worth approximately $80,000. Patten & Patten Inc. TN purchased a new position in United Community Banks in the fourth quarter worth approximately $255,000. Commonwealth Equity Services LLC purchased a new position in United Community Banks in the fourth quarter worth approximately $273,000. Xponance Inc. purchased a new position in United Community Banks in the fourth quarter worth approximately $278,000. Finally, Cibc World Markets Corp purchased a new position in United Community Banks in the fourth quarter worth approximately $362,000. 82.29% of the stock is currently owned by hedge funds and other institutional investors.

United Community Banks Stock Down 0.6 %

NASDAQ:UCB opened at $27.94 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. The stock’s fifty day moving average is $31.68 and its two-hundred day moving average is $31.07. 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 capitalization of $3.34 billion, a price-to-earnings ratio of 13.70 and a beta of 0.90.

United Community Banks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be issued 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 3.44%. United Community Banks’s dividend payout ratio (DPR) is 47.06%.

Insider Buying and Selling at United Community Banks

In related news, CEO H Lynn Harton sold 31,679 shares of the company’s stock in a transaction that occurred on 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sally Pope Davis bought 1,800 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average price of $28.19 per share, for a total transaction of $50,742.00. Following the completion of the purchase, the director now directly owns 3,264 shares of the company’s stock, valued at approximately $92,012.16. This trade represents a 122.95 % increase in their position. The disclosure for this purchase can be found here. 0.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

UCB has been the subject of several analyst reports. Hovde Group lowered their price objective 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. Raymond James upgraded United Community Banks from a “market perform” rating to an “outperform” rating and set a $35.00 price target on the stock in a research note on Thursday, December 19th. Finally, Piper Sandler upped their price target on United Community Banks from $32.00 to $35.00 and gave the stock a “neutral” rating in a research note 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.