Guggenheim Capital LLC Reduces Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

Guggenheim Capital LLC lowered its position in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 13.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,500 shares of the financial services provider's stock after selling 9,794 shares during the quarter. Guggenheim Capital LLC's holdings in United Bankshares were worth $2,309,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in UBSI. Mariner LLC grew its stake in shares of United Bankshares by 2.4% during the fourth quarter. Mariner LLC now owns 24,207 shares of the financial services provider's stock worth $909,000 after purchasing an additional 568 shares in the last quarter. Barclays PLC increased its stake in United Bankshares by 26.0% in the fourth quarter. Barclays PLC now owns 339,899 shares of the financial services provider's stock valued at $12,762,000 after purchasing an additional 70,047 shares during the last quarter. Synovus Financial Corp lifted its position in shares of United Bankshares by 8.3% during the 4th quarter. Synovus Financial Corp now owns 22,445 shares of the financial services provider's stock worth $843,000 after buying an additional 1,718 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in shares of United Bankshares by 4.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 18,596 shares of the financial services provider's stock valued at $698,000 after buying an additional 751 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its position in United Bankshares by 9.9% in the fourth quarter. Sterling Capital Management LLC now owns 60,326 shares of the financial services provider's stock valued at $2,265,000 after acquiring an additional 5,424 shares during the last quarter. Institutional investors and hedge funds own 70.80% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on UBSI shares. StockNews.com downgraded United Bankshares from a "hold" rating to a "sell" rating in a report on Monday, January 27th. Piper Sandler restated a "neutral" rating and set a $38.50 target price on shares of United Bankshares in a research report on Wednesday, March 12th. Stephens reiterated an "equal weight" rating and set a $43.00 price target on shares of United Bankshares in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of United Bankshares from $46.00 to $45.00 and set a "market perform" rating for the company in a report on Monday, January 27th. One equities research 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 has a consensus rating of "Hold" and a consensus target price of $41.88.

Insider Transactions at United Bankshares

In other news, Director Sara Dumond purchased 2,600 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were acquired at an average price 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 $176,940.54. The trade was a 105.95 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 3.66% of the company's stock.

United Bankshares Stock Performance

United Bankshares stock traded up $0.54 during trading hours on Wednesday, reaching $34.47. 1,108,702 shares of the stock were exchanged, compared to its average volume of 610,248. The stock has a market cap of $4.95 billion, a P/E ratio of 12.58 and a beta of 0.91. The firm's 50 day moving average is $34.48 and its 200 day moving average is $37.48. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. United Bankshares, Inc. has a 52-week low of $30.51 and a 52-week 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 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 in the previous year, the business posted $0.59 EPS. Analysts predict that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.48 annualized dividend and a dividend yield of 4.29%. United Bankshares's payout ratio is currently 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.