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

Vanguard Group Inc. decreased its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 1.2% in the 3rd quarter, according to its most recent Form 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 0.10% of United Bankshares worth $547,547,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

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

United Bankshares Stock Up 0.1%

Shares of NASDAQ UBSI opened at $42.60 on Wednesday. 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. The firm has a fifty day simple moving average of $41.61 and a two-hundred day simple moving average of $38.73. The firm has a market capitalization of $5.98 billion, a PE ratio of 13.03 and a beta of 0.78.

United Bankshares (NASDAQ:UBSI) last posted its earnings results on Thursday, January 22nd. The financial services provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. The firm had revenue of $430.85 million for the quarter, compared to the consensus estimate of $315.50 million. United Bankshares had a return on equity of 8.60% and a net margin of 25.51%.During the same quarter in the prior year, the business earned $0.69 EPS. Equities analysts expect that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be issued a $0.38 dividend. The ex-dividend date is Friday, March 13th. This represents a $1.52 dividend on an annualized basis and a yield of 3.6%. United Bankshares’s dividend payout ratio is 46.48%.

United Bankshares Profile

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.