Truist Financial Corp raised its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 69.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,916 shares of the financial services provider's stock after buying an additional 9,418 shares during the period. Truist Financial Corp's holdings in United Bankshares were worth $860,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Wilmington Savings Fund Society FSB grew its position in shares of United Bankshares by 1,921.1% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,435 shares of the financial services provider's stock valued at $54,000 after purchasing an additional 1,364 shares during the last quarter. Principal Securities Inc. lifted its position in shares of United Bankshares by 10.1% during the 4th quarter. Principal Securities Inc. now owns 3,115 shares of the financial services provider's stock worth $117,000 after buying an additional 285 shares during the period. Milestone Asset Management LLC bought a new stake in shares of United Bankshares in the 4th quarter worth about $201,000. Choreo LLC acquired a new stake in shares of United Bankshares during the fourth quarter worth approximately $206,000. Finally, Quest Partners LLC grew its holdings in shares of United Bankshares by 377.2% during the third quarter. Quest Partners LLC now owns 5,641 shares of the financial services provider's stock worth $209,000 after purchasing an additional 4,459 shares during the last quarter. Institutional investors and hedge funds own 70.80% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on UBSI shares. StockNews.com downgraded United Bankshares from a "hold" rating to a "sell" rating in a research report on Monday, January 27th. Stephens reissued an "equal weight" rating and issued a $43.00 price objective on shares of United Bankshares in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods dropped their price target on United Bankshares from $46.00 to $45.00 and set a "market perform" rating for the company in a research note on Monday, January 27th.
Check Out Our Latest Analysis on UBSI
United Bankshares Stock Performance
Shares of NASDAQ UBSI traded up $0.10 during midday trading on Wednesday, hitting $35.33. The company's stock had a trading volume of 676,480 shares, compared to its average volume of 516,362. 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 firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of 12.89 and a beta of 1.02. United Bankshares, Inc. has a one year low of $30.68 and a one year high of $44.43. The stock has a fifty day moving average price of $37.57 and a 200 day moving average price of $38.38.
United Bankshares (NASDAQ:UBSI - Get Free Report) last announced its quarterly earnings data on Friday, January 24th. The financial services provider reported $0.69 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 quarter last year, the firm posted $0.59 EPS. On average, research analysts forecast that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.
United Bankshares Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.48 annualized dividend and a yield of 4.19%. United Bankshares's payout ratio is 54.01%.
Insiders Place Their Bets
In other news, Director Mark R. Nesselroad sold 6,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $39.16, for a total transaction of $234,960.00. Following the sale, the director now owns 35,424 shares in the company, valued at $1,387,203.84. This represents a 14.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 3.66% of the company's stock.
United Bankshares Profile
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Free Report)
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.
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