Franklin Resources Inc. Decreases Stock Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

Franklin Resources Inc. lowered its stake in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 25.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 23,838 shares of the financial services provider's stock after selling 8,156 shares during the quarter. Franklin Resources Inc.'s holdings in United Bankshares were worth $895,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in United Bankshares during the 4th quarter valued at $54,712,000. Raymond James Financial Inc. bought a new stake in shares of United Bankshares in the fourth quarter worth about $14,948,000. JPMorgan Chase & Co. increased its holdings in United Bankshares by 39.7% during the 4th quarter. JPMorgan Chase & Co. now owns 830,774 shares of the financial services provider's stock valued at $31,196,000 after purchasing an additional 235,955 shares during the period. Assenagon Asset Management S.A. bought a new position in United Bankshares during the 4th quarter valued at approximately $7,383,000. Finally, Barclays PLC lifted its holdings in United Bankshares by 89.5% in the 3rd quarter. Barclays PLC now owns 269,852 shares of the financial services provider's stock worth $10,012,000 after buying an additional 127,486 shares during the period. Hedge funds and other institutional investors own 70.80% of the company's stock.

United Bankshares Stock Up 0.2 %

Shares of United Bankshares stock traded up $0.07 during trading on Friday, hitting $33.51. The company's stock had a trading volume of 2,560,841 shares, compared to its average volume of 605,802. 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. The company has a fifty day simple moving average of $34.67 and a two-hundred day simple moving average of $37.53. The company has a market capitalization of $4.81 billion, a PE ratio of 12.23 and a beta of 0.91.

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

United Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a $0.37 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.42%. United Bankshares's dividend payout ratio is currently 54.01%.

Insider Activity

In other news, Director Sara Dumond purchased 2,600 shares of the business's stock in a transaction dated Monday, March 24th. The shares were purchased at an average price 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 in the company, valued at $176,940.54. This represents a 105.95 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.66% of the company's stock.

Analyst Ratings Changes

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

United Bankshares Company 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.