Lee Danner & Bass Inc. Takes $174,000 Position in United Community Banks, Inc. (NASDAQ:UCB)

Lee Danner & Bass Inc. purchased a new stake in United Community Banks, Inc. (NASDAQ:UCB) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 5,397 shares of the company’s stock, valued at approximately $174,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC bought a new position in shares of United Community Banks in the 4th quarter valued at $80,000. Patten & Patten Inc. TN bought a new stake in United Community Banks during the 4th quarter worth $255,000. Commonwealth Equity Services LLC bought a new stake in United Community Banks during the 4th quarter worth $273,000. Xponance Inc. bought a new stake in United Community Banks during the 4th quarter worth $278,000. Finally, Cibc World Markets Corp bought a new stake in United Community Banks during the 4th quarter worth $362,000. Institutional investors own 82.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Hovde Group reduced their price objective on United Community Banks from $36.00 to $32.00 and set a “market perform” rating on the stock in a research report on Thursday. Piper Sandler boosted their price objective on United Community Banks from $32.00 to $35.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Finally, Raymond James raised United Community Banks from a “market perform” rating to an “outperform” rating and set a $35.00 target price on the stock in a report on Thursday, December 19th.

United Community Banks Stock Down 0.6 %

Shares of UCB opened at $27.94 on Friday. The company has a market capitalization of $3.34 billion, a PE ratio of 13.70 and a beta of 0.90. United Community Banks, Inc. has a 12 month low of $26.00 and a 12 month high of $35.38. The stock’s 50-day moving average price is $31.68 and its two-hundred day moving average price is $31.07. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.08.

United Community Banks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders 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 dividend yield of 3.44%. The ex-dividend date is Friday, March 14th. United Community Banks’s dividend payout ratio is 47.06%.

Insider Activity

In other news, CEO H Lynn Harton sold 31,679 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $33.84, for a total value of $1,072,017.36. Following the transaction, the chief executive officer now directly owns 112,444 shares of the company’s stock, valued at $3,805,104.96. The trade was a 21.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sally Pope Davis acquired 1,800 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost 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 in the company, valued at $92,012.16. This trade represents a 122.95 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.54% of the stock is 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.