US Bancorp DE Lowers Stock Position in United Bankshares, Inc. (NASDAQ:UBSI)

US Bancorp DE cut its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSIGet Rating) by 6.6% during the third quarter, HoldingsChannel.com reports. The fund owned 18,371 shares of the financial services provider’s stock after selling 1,292 shares during the quarter. US Bancorp DE’s holdings in United Bankshares were worth $656,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. State Street Corp lifted its holdings in United Bankshares by 24.5% in the first quarter. State Street Corp now owns 14,156,275 shares of the financial services provider’s stock valued at $498,550,000 after acquiring an additional 2,782,694 shares during the period. Vanguard Group Inc. increased its position in United Bankshares by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 13,508,712 shares of the financial services provider’s stock worth $471,184,000 after purchasing an additional 624,816 shares in the last quarter. BlackRock Inc. increased its position in United Bankshares by 2.7% during the 1st quarter. BlackRock Inc. now owns 18,874,678 shares of the financial services provider’s stock worth $658,348,000 after purchasing an additional 495,652 shares in the last quarter. Invesco Ltd. increased its position in United Bankshares by 18.1% during the 1st quarter. Invesco Ltd. now owns 1,020,806 shares of the financial services provider’s stock worth $35,605,000 after purchasing an additional 156,640 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in United Bankshares by 14.4% during the 2nd quarter. Principal Financial Group Inc. now owns 527,267 shares of the financial services provider’s stock worth $18,491,000 after purchasing an additional 66,233 shares in the last quarter. 68.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director J Paul Mcnamara sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $42.75, for a total transaction of $106,875.00. Following the transaction, 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 Securities & Exchange Commission, which is accessible through this hyperlink. 4.22% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

UBSI has been the subject of a number of recent research reports. StockNews.com cut United Bankshares from a “hold” rating to a “sell” rating in a research report on Wednesday, January 11th. Piper Sandler reiterated a “neutral” rating and set a $45.00 price objective on shares of United Bankshares in a research report on Monday, December 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $41.33.

United Bankshares Stock Up 1.7 %

Shares of NASDAQ:UBSI opened at $39.44 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.90 and a current ratio of 0.91. United Bankshares, Inc. has a 1 year low of $33.11 and a 1 year high of $44.15. The stock has a market capitalization of $5.31 billion, a P/E ratio of 15.00 and a beta of 1.07. The stock has a 50-day simple moving average of $40.86 and a 200-day simple moving average of $39.08.

United Bankshares (NASDAQ:UBSIGet Rating) last released its quarterly earnings results on Thursday, October 27th. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.67 by $0.09. The firm had revenue of $273.37 million for the quarter, compared to analyst estimates of $267.31 million. United Bankshares had a return on equity of 7.76% and a net margin of 33.19%. During the same period in the previous year, the company posted $0.71 EPS. Equities analysts forecast that United Bankshares, Inc. will post 2.88 earnings per share for the current year.

United Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 3rd. Investors of record on Friday, December 9th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend was Thursday, December 8th. United Bankshares’s dividend payout ratio (DPR) is presently 54.75%.

United Bankshares Company Profile

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United Bankshares, Inc is a bank holding company, which engages in the provision of commercial and retail banking services and products. It operates through the following segments: Community Banking, Mortgage Banking, and Other. The Community Banking segment consists of both commercial and consumer lending and provides customers with such products as commercial loans, real estate loans, business financing, and consumer loans.

See Also

Want to see what other hedge funds are holding UBSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Bankshares, Inc. (NASDAQ:UBSIGet Rating).

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

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