Franklin Resources Inc. Sells 8,156 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Franklin Resources Inc. decreased its stake in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 25.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,838 shares of the financial services provider's stock after selling 8,156 shares during the period. Franklin Resources Inc.'s holdings in United Bankshares were worth $895,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in UBSI. SBI Securities Co. Ltd. bought a new stake in shares of United Bankshares in the 4th quarter worth approximately $26,000. Jones Financial Companies Lllp grew its stake in shares of United Bankshares by 55.8% during the 4th quarter. Jones Financial Companies Lllp now owns 866 shares of the financial services provider's stock worth $33,000 after acquiring an additional 310 shares during the period. Wilmington Savings Fund Society FSB increased its holdings in United Bankshares by 1,921.1% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,435 shares of the financial services provider's stock worth $54,000 after acquiring an additional 1,364 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in United Bankshares by 37.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,480 shares of the financial services provider's stock valued at $56,000 after acquiring an additional 400 shares during the period. Finally, Principal Securities Inc. lifted its holdings in United Bankshares by 10.1% during the fourth quarter. Principal Securities Inc. now owns 3,115 shares of the financial services provider's stock valued at $117,000 after purchasing an additional 285 shares during the last quarter. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

United Bankshares Price Performance

Shares of UBSI stock traded up $0.07 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. United Bankshares, Inc. has a 12-month low of $30.51 and a 12-month high of $44.43. The stock's 50 day simple moving average is $34.67 and its 200-day simple moving average is $37.50. 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 company has a market capitalization of $4.81 billion, a P/E ratio of 12.23 and a beta of 0.91.

United Bankshares (NASDAQ:UBSI - Get Free Report) last issued its quarterly earnings data on Friday, January 24th. The financial services provider reported $0.69 EPS for the quarter, topping 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 business earned $0.59 earnings per share. As a group, equities analysts predict that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

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

Insiders Place Their Bets

In other United Bankshares news, Director Sara Dumond purchased 2,600 shares of the firm's stock in a transaction on Monday, March 24th. The shares were purchased 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. The trade was a 105.95 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. StockNews.com lowered shares of United Bankshares from a "hold" rating to a "sell" rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods reduced their price target on United Bankshares from $46.00 to $45.00 and set a "market perform" rating for the company in a research report on Monday, January 27th. Stephens reiterated an "equal weight" rating and set a $43.00 price objective on shares of United Bankshares in a research note on Monday, January 27th. Finally, Piper Sandler restated a "neutral" rating and issued a $38.50 target price on shares of United Bankshares in a research note on Wednesday, March 12th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average 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.