United Bankshares, Inc. (NASDAQ:UBSI) Stake Lessened by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 12.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 53,353 shares of the financial services provider's stock after selling 7,509 shares during the period. Thrivent Financial for Lutherans' holdings in United Bankshares were worth $2,003,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Cibc World Markets Corp bought a new position in United Bankshares during the 4th quarter worth approximately $465,000. Natixis Advisors LLC increased its holdings in shares of United Bankshares by 3.4% during the fourth quarter. Natixis Advisors LLC now owns 347,564 shares of the financial services provider's stock valued at $13,051,000 after purchasing an additional 11,535 shares during the period. Swiss National Bank raised its stake in shares of United Bankshares by 0.8% during the fourth quarter. Swiss National Bank now owns 265,963 shares of the financial services provider's stock valued at $9,987,000 after purchasing an additional 2,000 shares in the last quarter. Hopwood Financial Services Inc. acquired a new stake in United Bankshares in the fourth quarter worth about $117,000. Finally, HighTower Advisors LLC grew its position in United Bankshares by 16.1% in the 4th quarter. HighTower Advisors LLC now owns 22,683 shares of the financial services provider's stock valued at $852,000 after buying an additional 3,141 shares in the last quarter. 70.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Sara Dumond acquired 2,600 shares of United Bankshares stock in a transaction on 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 completion of the purchase, the director now owns 5,054 shares of the company's stock, valued at $176,940.54. This represents a 105.95 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.66% of the stock is currently owned by company insiders.

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United Bankshares Price Performance

Shares of NASDAQ UBSI traded up $0.27 during midday trading on Monday, reaching $34.67. The company's stock had a trading volume of 934,452 shares, compared to its average volume of 563,913. The company has a market cap of $4.97 billion, a price-to-earnings ratio of 12.65 and a beta of 0.98. United Bankshares, Inc. has a one year low of $30.68 and a one year high of $44.43. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. The company has a 50 day moving average price of $36.60 and a 200 day moving average price of $38.02.

United Bankshares (NASDAQ:UBSI - Get Free Report) last posted its quarterly earnings results on Friday, January 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. During the same period in the previous year, the company earned $0.59 EPS. On average, equities research analysts expect that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.37 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.27%. United Bankshares's dividend payout ratio (DPR) is 54.01%.

Analyst Upgrades and Downgrades

UBSI has been the topic of a number of recent analyst reports. Stephens restated an "equal weight" rating and set a $43.00 price target on shares of United Bankshares in a research report on Monday, January 27th. Piper Sandler reissued a "neutral" rating and set a $38.50 target price on shares of United Bankshares in a report on Wednesday, March 12th. StockNews.com lowered United Bankshares from a "hold" rating to a "sell" rating in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods lowered their price target on 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. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $41.88.

United Bankshares 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.