Legal & General Group Plc Lowers Stock Position in United Bankshares, Inc. (NASDAQ:UBSI)

Legal & General Group Plc reduced its position in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 4.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 218,420 shares of the financial services provider's stock after selling 9,455 shares during the period. Legal & General Group Plc owned about 0.16% of United Bankshares worth $8,202,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in UBSI. JPMorgan Chase & Co. grew its position in United Bankshares by 9.8% in the third quarter. JPMorgan Chase & Co. now owns 594,819 shares of the financial services provider's stock valued at $22,068,000 after purchasing an additional 52,949 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of United Bankshares in the 4th quarter valued at about $7,383,000. Truist Financial Corp increased its stake in shares of United Bankshares by 69.8% during the 4th quarter. Truist Financial Corp now owns 22,916 shares of the financial services provider's stock worth $860,000 after purchasing an additional 9,418 shares during the last quarter. Barclays PLC raised its holdings in shares of United Bankshares by 89.5% in the 3rd quarter. Barclays PLC now owns 269,852 shares of the financial services provider's stock valued at $10,012,000 after purchasing an additional 127,486 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in United Bankshares by 12.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,656 shares of the financial services provider's stock worth $214,000 after purchasing an additional 608 shares during the period. 70.80% of the stock is owned by institutional investors.

United Bankshares Stock Performance

Shares of UBSI stock traded down $0.19 on Thursday, hitting $34.28. 213,416 shares of the stock were exchanged, compared to its average volume of 609,803. The firm has a market capitalization of $4.92 billion, a PE ratio of 12.49 and a beta of 0.91. 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's 50 day moving average is $34.41 and its two-hundred day moving average is $37.46. United Bankshares, Inc. has a one year low of $30.51 and a one year high of $44.43.

United Bankshares (NASDAQ:UBSI - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $0.66 by ($0.07). United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. Sell-side analysts expect 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. Stockholders 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 annualized dividend and a dividend yield of 4.32%. United Bankshares's dividend payout ratio is presently 54.01%.

Insider Activity at United Bankshares

In related news, Director Sara Dumond bought 2,600 shares of the stock in a transaction on Monday, March 24th. The shares were acquired at an average price of $35.01 per share, for a total transaction of $91,026.00. Following the purchase, the director now owns 5,054 shares of the company's stock, valued at approximately $176,940.54. The trade was a 105.95 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.66% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Keefe, Bruyette & Woods decreased their price target on shares of United Bankshares from $46.00 to $45.00 and set a "market perform" rating on the stock in a research note on Monday, January 27th. 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. 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. Finally, StockNews.com downgraded shares of United Bankshares from a "hold" rating to a "sell" rating in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company's stock. According to data from MarketBeat.com, United Bankshares has a consensus rating of "Hold" and a consensus 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.