Guggenheim Capital LLC Sells 9,794 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Guggenheim Capital LLC cut its holdings in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 13.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,500 shares of the financial services provider's stock after selling 9,794 shares during the quarter. Guggenheim Capital LLC's holdings in United Bankshares were worth $2,309,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of United Bankshares by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 14,310,562 shares of the financial services provider's stock worth $537,362,000 after buying an additional 115,681 shares during the period. Charles Schwab Investment Management Inc. lifted 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 valued at $64,233,000 after purchasing an additional 37,532 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in United Bankshares by 3.5% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,612,170 shares of the financial services provider's stock valued at $60,538,000 after purchasing an additional 54,089 shares during the last quarter. Norges Bank acquired a new stake in shares of United Bankshares in the fourth quarter valued at approximately $54,712,000. Finally, Invesco Ltd. grew its position in shares of United Bankshares by 7.3% in the fourth quarter. Invesco Ltd. now owns 900,377 shares of the financial services provider's stock valued at $33,809,000 after purchasing an additional 61,109 shares during the last quarter. 70.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Sara Dumond purchased 2,600 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was purchased at an average cost of $35.01 per share, with a total value 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 trade represents a 105.95 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 3.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on UBSI. StockNews.com cut United Bankshares from a "hold" rating to a "sell" rating in a research note on Monday, January 27th. Piper Sandler reiterated a "neutral" rating and set a $38.50 target price on shares of United Bankshares in a research note on Wednesday, March 12th. Keefe, Bruyette & Woods lowered their price target on shares of United Bankshares from $46.00 to $45.00 and set a "market perform" rating on the stock in a report on Monday, January 27th. Finally, Stephens restated an "equal weight" rating and set a $43.00 price objective on shares of United Bankshares in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, United Bankshares currently has a consensus rating of "Hold" and a consensus price target of $41.88.

United Bankshares Trading Down 0.5 %

NASDAQ UBSI traded down $0.18 during trading on Friday, hitting $34.28. The stock had a trading volume of 271,599 shares, compared to its average volume of 611,789. The stock has a 50 day simple moving average of $34.34 and a 200 day simple moving average of $37.45. 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 stock has a market capitalization of $4.92 billion, a price-to-earnings ratio of 12.51 and a beta of 0.91. United Bankshares, Inc. has a one year low of $30.51 and a one year high of $44.43.

United Bankshares (NASDAQ:UBSI - Get Free Report) last issued its earnings results on Thursday, April 24th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.66 by ($0.07). United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. The firm had revenue of $289.61 million during the quarter, compared to analysts' expectations of $279.02 million. Sell-side analysts predict that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.32%. United Bankshares's dividend payout ratio is currently 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.