Voya Investment Management LLC Reduces Stock Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

Voya Investment Management LLC lowered its stake in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 58.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 39,081 shares of the financial services provider's stock after selling 55,197 shares during the quarter. Voya Investment Management LLC's holdings in United Bankshares were worth $1,467,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its holdings in shares of United Bankshares by 8.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 106,262 shares of the financial services provider's stock worth $3,991,000 after acquiring an additional 8,525 shares during the last quarter. Pinebridge Investments L.P. raised its stake in United Bankshares by 42.7% in the 4th quarter. Pinebridge Investments L.P. now owns 61,341 shares of the financial services provider's stock valued at $2,303,000 after purchasing an additional 18,350 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in United Bankshares by 134.6% in the 4th quarter. Hsbc Holdings PLC now owns 25,202 shares of the financial services provider's stock valued at $948,000 after purchasing an additional 14,460 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of United Bankshares by 2.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 12,432 shares of the financial services provider's stock worth $467,000 after purchasing an additional 327 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its stake in shares of United Bankshares by 7.6% during the 4th quarter. MetLife Investment Management LLC now owns 153,241 shares of the financial services provider's stock worth $5,754,000 after purchasing an additional 10,761 shares during the last quarter. Institutional investors and hedge funds own 70.80% of the company's stock.

United Bankshares Trading Down 0.8 %

Shares of UBSI traded down $0.30 during mid-day trading on Friday, reaching $35.52. The company had a trading volume of 339,482 shares, compared to its average volume of 621,157. United Bankshares, Inc. has a fifty-two week low of $30.51 and a fifty-two week high of $44.43. The firm has a fifty day simple moving average of $34.06 and a 200-day simple moving average of $37.27. The stock has a market cap of $5.10 billion, a price-to-earnings ratio of 12.96 and a beta of 0.74. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11.

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 for the quarter, missing analysts' consensus estimates of $0.66 by ($0.07). The firm had revenue of $289.61 million during the quarter, compared to analyst estimates of $279.02 million. United Bankshares had a net margin of 22.94% and a return on equity of 7.60%. United Bankshares's revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 EPS. On average, sell-side analysts anticipate 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. Stockholders of record on Friday, March 14th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date was Friday, March 14th. United Bankshares's payout ratio is currently 55.02%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on UBSI. Piper Sandler reissued a "neutral" rating and set a $38.50 price objective on shares of United Bankshares in a research note on Wednesday, March 12th. Keefe, Bruyette & Woods reduced their price target on United Bankshares from $42.00 to $40.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. StockNews.com downgraded United Bankshares from a "hold" rating to a "sell" rating in a research report on Monday, January 27th. Finally, Stephens reiterated an "equal weight" rating and set a $43.00 target price on shares of United Bankshares in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $40.63.

Insider Buying and Selling

In other United Bankshares news, Director Sara Dumond acquired 2,600 shares of the firm's stock in a transaction on Monday, March 24th. The stock was bought at an average cost of $35.01 per share, for a total transaction of $91,026.00. Following the completion of the purchase, the director now directly owns 5,054 shares in the company, valued at $176,940.54. This represents a 105.95 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.46% of the company's stock.

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.