United Bankshares, Inc. $UBSI Shares Purchased by Truist Financial Corp

Key Points

• Truist Financial Corp has significantly increased its stake in United Bankshares, Inc. by 81.8%, acquiring additional shares worth around $815,000 at the end of the second quarter.
• United Bankshares reported an EPS of $0.85 in its last earnings announcement, exceeding analysts' expectations of $0.77, and had a revenue of $306 million for the quarter.
• The company declared a quarterly dividend of $0.37 per share, resulting in an annualized yield of 4.1%, with a dividend payout ratio of 52.30%.

Truist Financial Corp boosted its position in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 81.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,375 shares of the financial services provider's stock after acquiring an additional 10,069 shares during the quarter. Truist Financial Corp's holdings in United Bankshares were worth $815,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Cerity Partners LLC raised its holdings in United Bankshares by 0.8% in the first quarter. Cerity Partners LLC now owns 42,211 shares of the financial services provider's stock valued at $1,463,000 after acquiring an additional 346 shares in the last quarter. Amalgamated Bank raised its holdings in United Bankshares by 1.1% in the first quarter. Amalgamated Bank now owns 62,509 shares of the financial services provider's stock valued at $2,167,000 after acquiring an additional 698 shares in the last quarter. New York State Teachers Retirement System raised its holdings in United Bankshares by 0.5% in the first quarter. New York State Teachers Retirement System now owns 133,107 shares of the financial services provider's stock valued at $4,615,000 after acquiring an additional 600 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in United Bankshares by 8.6% in the first quarter. State of Alaska Department of Revenue now owns 16,719 shares of the financial services provider's stock valued at $579,000 after purchasing an additional 1,330 shares in the last quarter. Finally, Focus Partners Wealth boosted its holdings in United Bankshares by 178.6% in the first quarter. Focus Partners Wealth now owns 73,102 shares of the financial services provider's stock valued at $2,534,000 after purchasing an additional 46,863 shares in the last quarter. Institutional investors and hedge funds own 70.80% of the company's stock.

United Bankshares Stock Performance

Shares of United Bankshares stock opened at $36.08 on Tuesday. The firm's fifty day simple moving average is $37.34 and its 200-day simple moving average is $36.19. The stock has a market capitalization of $5.11 billion, a price-to-earnings ratio of 12.75 and a beta of 0.76. United Bankshares, Inc. has a 12 month low of $30.50 and a 12 month high of $44.43. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.98.

United Bankshares (NASDAQ:UBSI - Get Free Report) last announced its earnings results on Thursday, July 24th. The financial services provider reported $0.85 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.08. The business had revenue of $306.00 million for the quarter, compared to analysts' expectations of $297.98 million. United Bankshares had a net margin of 23.14% and a return on equity of 7.65%. During the same period in the previous year, the company posted $0.71 EPS. As a group, equities analysts forecast that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 12th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.48 annualized dividend and a dividend yield of 4.1%. United Bankshares's dividend payout ratio (DPR) is currently 52.30%.

Analyst Ratings Changes

A number of analysts have weighed in on UBSI shares. Weiss Ratings cut shares of United Bankshares from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, October 8th. Zacks Research raised shares of United Bankshares to a "hold" rating in a report on Friday, August 8th. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, United Bankshares has an average rating of "Hold" and a consensus target price of $40.50.

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.

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