LPL Financial LLC Sells 36,132 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

LPL Financial LLC trimmed its position in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 34.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 68,757 shares of the financial services provider's stock after selling 36,132 shares during the period. LPL Financial LLC owned approximately 0.05% of United Bankshares worth $2,582,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jane Street Group LLC lifted its stake in United Bankshares by 27.2% during the third quarter. Jane Street Group LLC now owns 161,489 shares of the financial services provider's stock valued at $5,991,000 after purchasing an additional 34,526 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of United Bankshares by 9.8% in the third quarter. JPMorgan Chase & Co. now owns 594,819 shares of the financial services provider's stock valued at $22,068,000 after buying an additional 52,949 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of United Bankshares during the 4th quarter valued at $7,383,000. Truist Financial Corp boosted its stake in shares of United Bankshares by 69.8% during the 4th quarter. Truist Financial Corp now owns 22,916 shares of the financial services provider's stock worth $860,000 after acquiring an additional 9,418 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of United Bankshares by 89.5% during the 3rd quarter. Barclays PLC now owns 269,852 shares of the financial services provider's stock worth $10,012,000 after acquiring an additional 127,486 shares in the last quarter. 70.80% of the stock is owned by institutional investors.

Insider Buying and Selling at United Bankshares

In other news, Director Sara Dumond purchased 2,600 shares of the business's stock in a transaction dated Monday, March 24th. The stock was bought at an average cost of $35.01 per share, with a total value of $91,026.00. Following the purchase, the director now directly owns 5,054 shares of the company's stock, valued at approximately $176,940.54. This trade represents a 105.95 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.66% of the company's stock.

Analyst Upgrades and Downgrades

UBSI has been the subject of several analyst reports. StockNews.com downgraded United Bankshares from a "hold" rating to a "sell" rating in a report on Monday, January 27th. Stephens reaffirmed an "equal weight" rating and set a $43.00 price objective on shares of United Bankshares in a research note on Monday, January 27th. Keefe, Bruyette & Woods dropped their target price on shares of United Bankshares from $46.00 to $45.00 and set a "market perform" rating on the stock in a research report on Monday, January 27th. Finally, Piper Sandler restated a "neutral" rating and set a $38.50 price target on shares of United Bankshares in a report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $41.88.

United Bankshares Stock Up 0.2 %

Shares of UBSI traded up $0.07 during trading hours on Friday, reaching $33.51. The company's stock had a trading volume of 2,560,841 shares, compared to its average volume of 605,879. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of 12.23 and a beta of 0.91. The company has a 50 day moving average of $34.67 and a two-hundred day moving average of $37.50. United Bankshares, Inc. has a 1-year low of $30.51 and a 1-year high of $44.43.

United Bankshares (NASDAQ:UBSI - Get Free Report) last released its earnings results on Friday, January 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.68 by $0.01. United Bankshares had a net margin of 22.94% and a return on equity of 7.60%. During the same period in the prior year, the business posted $0.59 earnings per share. As a group, research analysts predict that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.37 per share. The ex-dividend date was Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a yield of 4.42%. United Bankshares's payout ratio is 54.01%.

United Bankshares Company Profile

United Bankshares, Inc, through its subsidiaries, primarily provides commercial and retail banking products and services in the United States. It operates through two segments, Community Banking and Mortgage Banking. The company accepts checking, savings, and time and money market accounts; individual retirement accounts; and demand deposits, statement and special savings, and NOW accounts.