Vanguard Group Inc. Sells 181,447 Shares of United Bankshares, Inc. $UBSI

Vanguard Group Inc. lessened its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 1.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,715,052 shares of the financial services provider’s stock after selling 181,447 shares during the quarter. Vanguard Group Inc. owned 10.39% of United Bankshares worth $547,547,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Hantz Financial Services Inc. raised its stake in shares of United Bankshares by 261.8% in the second quarter. Hantz Financial Services Inc. now owns 749 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 542 shares during the last quarter. Bogart Wealth LLC grew its holdings in United Bankshares by 655.4% during the third quarter. Bogart Wealth LLC now owns 763 shares of the financial services provider’s stock worth $28,000 after buying an additional 662 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in United Bankshares by 528.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,175 shares of the financial services provider’s stock worth $43,000 after buying an additional 988 shares in the last quarter. Allworth Financial LP raised its position in United Bankshares by 394.1% in the 2nd quarter. Allworth Financial LP now owns 1,265 shares of the financial services provider’s stock valued at $46,000 after buying an additional 1,009 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in United Bankshares by 14.9% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,699 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 351 shares in the last quarter. Institutional investors and hedge funds own 70.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Piper Sandler reiterated an “overweight” rating and issued a $47.00 target price on shares of United Bankshares in a report on Monday, January 26th. Zacks Research upgraded shares of United Bankshares from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Weiss Ratings upgraded United Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 13th. Stephens upped their target price on United Bankshares from $40.00 to $44.00 and gave the company an “equal weight” rating in a report on Friday, January 23rd. Finally, Keefe, Bruyette & Woods lifted their price target on United Bankshares from $40.00 to $43.00 and gave the stock a “market perform” rating in a report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.67.

United Bankshares Stock Performance

Shares of UBSI stock opened at $42.60 on Wednesday. The firm’s 50 day moving average is $41.61 and its 200 day moving average is $38.73. The stock has a market capitalization of $5.98 billion, a P/E ratio of 13.03 and a beta of 0.78. United Bankshares, Inc. has a 12 month low of $30.50 and a 12 month high of $45.92. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.10.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.86 by $0.05. United Bankshares had a net margin of 25.51% and a return on equity of 8.60%. The company had revenue of $430.85 million during the quarter, compared to analysts’ expectations of $315.50 million. During the same quarter in the previous year, the company earned $0.69 earnings per share. On average, sell-side analysts anticipate that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.52 annualized dividend and a yield of 3.6%. United Bankshares’s dividend payout ratio (DPR) is currently 46.48%.

About United Bankshares

United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company’s core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.

United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.