Prudential Financial Inc. Buys Shares of 121,536 United Community Banks, Inc. (NASDAQ:UCB)

Prudential Financial Inc. purchased a new position in United Community Banks, Inc. (NASDAQ:UCB) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 121,536 shares of the company’s stock, valued at approximately $3,985,000. Prudential Financial Inc. owned approximately 0.10% of United Community Banks at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Farther Finance Advisors LLC purchased a new stake in United Community Banks in the 4th quarter worth approximately $80,000. Lee Danner & Bass Inc. purchased a new stake in shares of United Community Banks in the fourth quarter worth $174,000. Patten & Patten Inc. TN bought a new stake in United Community Banks during the fourth quarter valued at $255,000. Commonwealth Equity Services LLC purchased a new position in United Community Banks during the fourth quarter worth about $273,000. Finally, Xponance Inc. bought a new position in United Community Banks in the 4th quarter worth about $278,000. 82.29% of the stock is currently owned by institutional investors.

United Community Banks Stock Performance

Shares of NASDAQ UCB opened at $27.73 on Wednesday. The stock’s 50-day moving average is $31.18 and its 200 day moving average is $31.07. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of 13.59 and a beta of 0.90. United Community Banks, Inc. has a 1-year low of $26.00 and a 1-year high of $35.38. 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 declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Friday, March 14th. United Community Banks’s dividend payout ratio (DPR) is presently 47.06%.

Insider Transactions at United Community Banks

In related news, CEO H Lynn Harton sold 31,679 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $33.84, for a total transaction of $1,072,017.36. Following the transaction, the chief executive officer now directly owns 112,444 shares in the company, valued at $3,805,104.96. This trade represents a 21.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Richard Bradshaw sold 1,527 shares of United Community Banks stock in a transaction that occurred on Monday, January 27th. The stock was 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. This trade represents a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

UCB has been the subject of several recent analyst reports. 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 report on Thursday, January 23rd. Raymond James raised shares of United Community Banks from a “market perform” rating to an “outperform” rating and set a $35.00 price target for the company in a research note on Thursday, December 19th. Finally, 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.

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.