Vanguard Group Inc. Sells 173,012 Shares of United Bankshares, Inc. $UBSI

Key Points

• Vanguard trimmed its stake in United Bankshares by 1.2%, selling 173,012 shares and leaving it with 14,542,040 shares (about 10.36% of the company) valued at roughly $558.4 million.
• The company beat quarterly expectations, reporting $0.89 EPS versus a $0.85 consensus and $318.14M in revenue, and recently paid a $0.38 quarterly dividend (annualized $1.52, yield ~3.5%).
• Analyst sentiment is mixed-to-positive with an average rating of “Moderate Buy” and a consensus price target of $45.75, while the stock trades around $43.07 with a P/E of 12.06 and a market cap of about $6.02B.

Vanguard Group Inc. reduced its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,542,040 shares of the financial services provider's stock after selling 173,012 shares during the period. Vanguard Group Inc. owned about 10.36% of United Bankshares worth $558,414,000 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. Caitong International Asset Management Co. Ltd bought a new position in shares of United Bankshares in the third quarter worth approximately $25,000. Bogart Wealth LLC grew its holdings in shares of United Bankshares by 655.4% in the third quarter. Bogart Wealth LLC now owns 763 shares of the financial services provider's stock worth $28,000 after purchasing an additional 662 shares during the last quarter. Rothschild Investment LLC grew its holdings in shares of United Bankshares by 174.8% in the third quarter. Rothschild Investment LLC now owns 838 shares of the financial services provider's stock worth $31,000 after purchasing an additional 533 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of United Bankshares by 196.2% in the fourth quarter. Farther Finance Advisors LLC now owns 856 shares of the financial services provider's stock worth $33,000 after purchasing an additional 567 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of United Bankshares by 528.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,175 shares of the financial services provider's stock worth $43,000 after purchasing an additional 988 shares during the last quarter. 70.80% of the stock is currently owned by institutional investors.

United Bankshares Stock Performance

Shares of United Bankshares stock opened at $43.07 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $6.02 billion, a P/E ratio of 12.06 and a beta of 0.72. The business has a fifty day simple moving average of $41.95 and a two-hundred day simple moving average of $40.19. United Bankshares, Inc. has a 12 month low of $34.10 and a 12 month high of $45.92.

United Bankshares (NASDAQ:UBSI - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.89 EPS for the quarter, beating the consensus estimate of $0.85 by $0.04. The business had revenue of $318.14 million during the quarter, compared to analyst estimates of $315.15 million. United Bankshares had a return on equity of 9.26% and a net margin of 27.45%.During the same quarter last year, the firm posted $0.59 earnings per share. On average, equities analysts forecast that United Bankshares, Inc. will post 3.64 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, March 13th. United Bankshares's payout ratio is currently 42.58%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on UBSI shares. Zacks Research cut shares of United Bankshares from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 26th. Raymond James Financial restated an "outperform" rating and issued a $49.00 target price on shares of United Bankshares in a report on Monday, April 27th. Keefe, Bruyette & Woods lifted their price target on shares of United Bankshares from $40.00 to $43.00 and gave the company a "market perform" rating in a report on Monday, January 26th. Stephens lifted their price target on shares of United Bankshares from $40.00 to $44.00 and gave the company an "equal weight" rating in a report on Friday, January 23rd. Finally, Weiss Ratings upgraded shares of United Bankshares from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, February 13th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, United Bankshares has an average rating of "Moderate Buy" and a consensus price target of $45.75.

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.

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