United Bankshares, Inc. (NASDAQ:UBSI) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. trimmed its position in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 86.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,240 shares of the financial services provider's stock after selling 84,710 shares during the period. Prudential Financial Inc.'s holdings in United Bankshares were worth $497,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of United Bankshares by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 14,310,562 shares of the financial services provider's stock valued at $537,362,000 after buying an additional 115,681 shares during the period. Geode Capital Management LLC lifted its holdings in United Bankshares by 1.7% in the third quarter. Geode Capital Management LLC now owns 3,306,542 shares of the financial services provider's stock valued at $122,695,000 after acquiring an additional 53,994 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of United Bankshares by 2.2% during the 4th 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 in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of United Bankshares by 3.5% during the 4th 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 period. Finally, JPMorgan Chase & Co. increased its holdings in shares of United Bankshares by 9.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 594,819 shares of the financial services provider's stock valued at $22,068,000 after purchasing an additional 52,949 shares in the last quarter. 70.80% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other United Bankshares news, Director Sara Dumond purchased 2,600 shares of United Bankshares stock in a transaction on Monday, March 24th. The shares were bought at an average price of $35.01 per share, with a total value of $91,026.00. Following the purchase, the director now directly owns 5,054 shares in the company, valued at $176,940.54. This trade represents a 105.95 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

UBSI has been the topic of a number of research analyst reports. StockNews.com downgraded shares of United Bankshares from a "hold" rating to a "sell" rating in a report on Monday, January 27th. Piper Sandler restated a "neutral" rating and issued a $38.50 price target on shares of United Bankshares in a report on Wednesday, March 12th. Stephens reaffirmed an "equal weight" rating and set a $43.00 price objective on shares of United Bankshares in a report on Monday, January 27th. Finally, Keefe, Bruyette & Woods lowered their target price on United Bankshares from $46.00 to $45.00 and set a "market perform" rating on the stock in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $41.88.

United Bankshares Price Performance

Shares of UBSI traded up $0.41 during mid-day trading on Tuesday, reaching $32.69. 69,499 shares of the company's stock were exchanged, compared to its average volume of 590,554. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. United Bankshares, Inc. has a 52-week low of $30.51 and a 52-week high of $44.43. The company has a market cap of $4.69 billion, a price-to-earnings ratio of 11.93 and a beta of 0.91. The company has a 50-day simple moving average of $35.11 and a two-hundred day simple moving average of $37.60.

United Bankshares (NASDAQ:UBSI - Get Free Report) last released its quarterly earnings results on Friday, January 24th. The financial services provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. During the same quarter in the prior year, the business earned $0.59 earnings per share. On average, sell-side analysts predict that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a $0.37 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a yield of 4.53%. United Bankshares's dividend payout ratio (DPR) is 54.01%.

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.