Bank of America Corp DE Trims Position in United Bankshares, Inc. (NASDAQ:UBSI)

Bank of America Corp DE decreased its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 7.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,200,386 shares of the financial services provider's stock after selling 100,331 shares during the period. Bank of America Corp DE owned approximately 0.89% of United Bankshares worth $45,074,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in UBSI. Ameriprise Financial Inc. lifted its holdings in United Bankshares by 7.9% in the fourth quarter. Ameriprise Financial Inc. now owns 381,439 shares of the financial services provider's stock worth $14,331,000 after buying an additional 27,977 shares during the period. Gallagher Fiduciary Advisors LLC grew its holdings in United Bankshares by 18.2% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 12,183 shares of the financial services provider's stock valued at $457,000 after buying an additional 1,880 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of United Bankshares by 13.0% during the fourth quarter. AQR Capital Management LLC now owns 193,708 shares of the financial services provider's stock valued at $7,274,000 after acquiring an additional 22,308 shares in the last quarter. Northern Trust Corp grew its stake in United Bankshares by 13.7% during the 4th quarter. Northern Trust Corp now owns 1,774,018 shares of the financial services provider's stock worth $66,614,000 after buying an additional 213,441 shares during the last quarter. Finally, Tudor Investment Corp ET AL acquired a new stake in United Bankshares during the 4th quarter worth about $202,000. Institutional investors own 70.80% of the company's stock.

Insider Buying and Selling

In other United Bankshares news, Director Sara Dumond purchased 2,600 shares of the stock in a transaction on Monday, March 24th. The stock was bought at an average cost of $35.01 per share, for a total transaction of $91,026.00. Following the completion of the acquisition, the director now directly owns 5,054 shares of the company's stock, valued at $176,940.54. The trade was a 105.95% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.46% of the stock is currently owned by corporate insiders.

United Bankshares Trading Down 0.1%

UBSI stock traded down $0.04 during midday trading on Monday, reaching $37.18. 182,735 shares of the company traded hands, compared to its average volume of 624,316. The business has a 50 day moving average of $34.29 and a 200-day moving average of $37.25. The firm has a market capitalization of $5.28 billion, a price-to-earnings ratio of 13.57 and a beta of 0.74. United Bankshares, Inc. has a 52-week low of $30.51 and a 52-week high of $44.43. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98.

United Bankshares (NASDAQ:UBSI - Get Free Report) last issued its earnings results on Thursday, April 24th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.66 by ($0.07). The company had revenue of $289.61 million during the quarter, compared to analyst estimates of $279.02 million. United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. The firm's revenue was up 13.7% compared to the same quarter last year. During the same period last year, the business earned $0.64 earnings per share. As a group, 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 will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.98%. The ex-dividend date is Friday, June 13th. United Bankshares's payout ratio is currently 55.02%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Keefe, Bruyette & Woods dropped their target price on shares of United Bankshares from $42.00 to $40.00 and set a "market perform" rating for the company in a report on Monday, April 28th. Stephens reaffirmed an "equal weight" rating and issued a $43.00 price objective on shares of United Bankshares in a research report on Monday, January 27th. StockNews.com raised United Bankshares from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $38.50 price objective on shares of United Bankshares in a research report on Wednesday, March 12th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, United Bankshares presently has a consensus rating of "Hold" and a consensus price target of $40.63.

United Bankshares Profile

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.