Nuveen Asset Management LLC Decreases Stock Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

Nuveen Asset Management LLC reduced its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 8.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 806,304 shares of the financial services provider's stock after selling 73,015 shares during the period. Nuveen Asset Management LLC owned about 0.60% of United Bankshares worth $30,277,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of United Bankshares by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,310,562 shares of the financial services provider's stock worth $537,362,000 after purchasing an additional 115,681 shares during the last quarter. Earnest Partners LLC grew its holdings in shares of United Bankshares by 0.7% in the fourth quarter. Earnest Partners LLC now owns 4,199,136 shares of the financial services provider's stock worth $157,678,000 after purchasing an additional 29,898 shares during the last quarter. Northern Trust Corp grew its holdings in shares of United Bankshares by 13.7% in the fourth quarter. Northern Trust Corp now owns 1,774,018 shares of the financial services provider's stock worth $66,614,000 after purchasing an additional 213,441 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of United Bankshares by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,710,588 shares of the financial services provider's stock worth $64,233,000 after purchasing an additional 37,532 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in shares of United Bankshares by 3.5% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,612,170 shares of the financial services provider's stock worth $60,538,000 after purchasing an additional 54,089 shares during the last quarter. 70.80% of the stock is currently owned by institutional investors.

United Bankshares Trading Up 2.3%

NASDAQ:UBSI traded up $0.82 during trading hours on Tuesday, hitting $36.83. The company had a trading volume of 539,793 shares, compared to its average volume of 630,482. The company has a market capitalization of $5.23 billion, a PE ratio of 13.44 and a beta of 0.74. The stock has a 50-day moving average price of $34.56 and a 200 day moving average price of $37.11. 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 current ratio of 0.98 and a quick ratio of 0.98.

United Bankshares (NASDAQ:UBSI - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.07). The company had revenue of $289.61 million during the quarter, compared to the consensus estimate of $279.02 million. United Bankshares had a net margin of 22.94% and a return on equity of 7.60%. The business's revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 EPS. On average, equities research analysts predict that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend is Friday, June 13th. United Bankshares's dividend payout ratio is currently 55.02%.

Analyst Ratings Changes

Several research analysts have recently issued reports on UBSI shares. Keefe, Bruyette & Woods cut their target price on shares of United Bankshares from $42.00 to $40.00 and set a "market perform" rating on the stock in a report on Monday, April 28th. Stephens restated an "equal weight" rating and issued a $43.00 target price on shares of United Bankshares in a report on Monday, January 27th. Piper Sandler restated a "neutral" rating and issued a $38.50 target price on shares of United Bankshares in a report on Wednesday, March 12th. Finally, Wall Street Zen cut shares of United Bankshares from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $40.63.

Insider Buying and Selling at United Bankshares

In other news, Director Sara Dumond acquired 2,600 shares of the stock in a transaction on Monday, March 24th. The stock was acquired at an average price of $35.01 per share, with a total value of $91,026.00. Following the completion of the transaction, the director now owns 5,054 shares of the company's stock, valued at $176,940.54. This represents a 105.95% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.66% of the company's stock.

About United Bankshares

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.