Thrivent Financial for Lutherans Has $2 Million Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

Thrivent Financial for Lutherans decreased its holdings in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 12.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,353 shares of the financial services provider's stock after selling 7,509 shares during the quarter. Thrivent Financial for Lutherans' holdings in United Bankshares were worth $2,003,000 at the end of the most recent reporting period.

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

United Bankshares Stock Up 0.8 %

NASDAQ UBSI traded up $0.28 on Wednesday, hitting $34.71. 742,510 shares of the company were exchanged, compared to its average volume of 566,405. 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 market cap of $4.97 billion, a PE ratio of 12.67 and a beta of 0.91. The stock has a fifty day moving average of $36.37 and a 200-day moving average of $37.97. United Bankshares, Inc. has a 12 month low of $30.68 and a 12 month high of $44.43.

United Bankshares (NASDAQ:UBSI - Get Free Report) last released its quarterly earnings data 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 quarter in the previous year, the firm posted $0.59 EPS. As a group, analysts forecast that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a $0.37 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a yield of 4.26%. United Bankshares's dividend payout ratio (DPR) is presently 54.01%.

Insider Activity

In other United Bankshares news, Director Sara Dumond purchased 2,600 shares of United Bankshares stock in a transaction that occurred on Monday, March 24th. The stock was acquired at an average price of $35.01 per share, with a total value of $91,026.00. Following the transaction, the director now owns 5,054 shares in the company, valued at $176,940.54. This trade represents a 105.95 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on UBSI shares. Piper Sandler reaffirmed a "neutral" rating and issued a $38.50 price objective on shares of United Bankshares in a research note on Wednesday, March 12th. 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 report on Monday, January 27th. StockNews.com downgraded United Bankshares from a "hold" rating to a "sell" rating in a report on Monday, January 27th. Finally, Stephens reissued an "equal weight" rating and issued a $43.00 price objective on shares of United Bankshares in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to MarketBeat.com, United Bankshares currently has an average rating of "Hold" and an average price target of $41.88.

About United Bankshares

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.