Truist Financial Corp Trims Stock Position in United Bankshares, Inc. (NASDAQ:UBSI)

Truist Financial Corp lessened its position in shares of United Bankshares, Inc. (NASDAQ:UBSIGet Rating) by 3.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 157,342 shares of the financial services provider’s stock after selling 6,166 shares during the quarter. Truist Financial Corp’s holdings in United Bankshares were worth $5,625,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Wipfli Financial Advisors LLC acquired a new stake in United Bankshares in the 3rd quarter valued at approximately $42,000. Raymond James & Associates increased its holdings in United Bankshares by 0.5% in the 3rd quarter. Raymond James & Associates now owns 82,259 shares of the financial services provider’s stock valued at $2,941,000 after purchasing an additional 388 shares during the last quarter. McKinley Carter Wealth Services Inc. increased its holdings in United Bankshares by 1.8% in the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 34,237 shares of the financial services provider’s stock valued at $1,224,000 after purchasing an additional 613 shares during the last quarter. Godsey & Gibb Inc. acquired a new stake in United Bankshares in the 3rd quarter valued at approximately $38,000. Finally, Ronald Blue Trust Inc. increased its holdings in United Bankshares by 227.1% in the 3rd quarter. Ronald Blue Trust Inc. now owns 1,181 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 820 shares during the last quarter. Hedge funds and other institutional investors own 68.73% of the company’s stock.

Insider Transactions at United Bankshares

In other news, Director J Paul Mcnamara sold 2,500 shares of United Bankshares stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $42.75, for a total transaction of $106,875.00. Following the completion of the sale, the director now directly owns 62,699 shares of the company’s stock, valued at approximately $2,680,382.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 4.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on UBSI shares. Piper Sandler reiterated a “neutral” rating and issued a $45.00 target price on shares of United Bankshares in a report on Monday, December 5th. StockNews.com downgraded shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, United Bankshares has a consensus rating of “Hold” and an average target price of $41.33.

United Bankshares Stock Performance

NASDAQ:UBSI opened at $40.50 on Thursday. The company has a fifty day simple moving average of $41.26 and a two-hundred day simple moving average of $38.85. The company has a market cap of $5.45 billion, a price-to-earnings ratio of 15.40 and a beta of 1.08. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.29. United Bankshares, Inc. has a 52 week low of $33.11 and a 52 week high of $44.15.

United Bankshares (NASDAQ:UBSIGet Rating) last released its quarterly earnings data on Thursday, October 27th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.09. The business had revenue of $273.37 million during the quarter, compared to analysts’ expectations of $267.31 million. United Bankshares had a net margin of 33.19% and a return on equity of 7.76%. During the same period in the previous year, the company earned $0.71 EPS. As a group, equities analysts anticipate that United Bankshares, Inc. will post 2.88 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Friday, December 9th were given a dividend of $0.36 per share. The ex-dividend date was Thursday, December 8th. This represents a $1.44 annualized dividend and a dividend yield of 3.56%. United Bankshares’s dividend payout ratio (DPR) is currently 54.75%.

United Bankshares Profile

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United Bankshares, Inc, a financial holding company, 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, NOW accounts, and interest-bearing checking accounts.

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Institutional Ownership by Quarter for United Bankshares (NASDAQ:UBSI)

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