OneAscent Wealth Management LLC Purchases New Shares in United Community Banks, Inc. (NASDAQ:UCB)

OneAscent Wealth Management LLC acquired a new position in shares of United Community Banks, Inc. (NASDAQ:UCB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 10,790 shares of the company’s stock, valued at approximately $349,000.

A number of other hedge funds also recently bought and sold shares of UCB. Farther Finance Advisors LLC acquired a new stake in shares of United Community Banks during the fourth quarter valued at approximately $80,000. Great Lakes Advisors LLC acquired a new stake in United Community Banks during the 4th quarter valued at $3,050,000. Swiss National Bank purchased a new stake in shares of United Community Banks in the fourth quarter valued at $7,573,000. Commonwealth Equity Services LLC acquired a new stake in shares of United Community Banks in the fourth quarter worth $273,000. Finally, Natixis Advisors LLC purchased a new position in shares of United Community Banks during the fourth quarter valued at $498,000. 82.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

UCB has been the subject of a number of research reports. Raymond James upgraded United Community Banks from a “market perform” rating to an “outperform” rating and set a $35.00 price objective for the company in a research report on Thursday, December 19th. Hovde Group lowered their price objective on shares of United Community Banks from $36.00 to $32.00 and set a “market perform” rating on the stock in a research report on Thursday, March 20th. Finally, Piper Sandler upped their price objective on shares of United Community Banks from $32.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd.

Insiders Place Their Bets

In related news, Director Sally Pope Davis purchased 1,800 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $28.19 per share, for a total transaction of $50,742.00. Following the purchase, the director now owns 3,264 shares in the company, valued at $92,012.16. The trade was a 122.95 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Richard Bradshaw sold 1,527 shares of the firm’s stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

United Community Banks Stock Down 2.6 %

Shares of United Community Banks stock opened at $27.81 on Friday. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 13.63 and a beta of 0.90. The stock has a 50-day simple moving average of $31.38 and a 200-day simple moving average of $31.04. United Community Banks, Inc. has a 52-week low of $26.00 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.

United Community Banks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders 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 yield of 3.45%. The ex-dividend date is Friday, March 14th. United Community Banks’s dividend payout ratio (DPR) is presently 47.06%.

United Community Banks Profile

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.