United Bankshares, Inc. (NASDAQ:UBSI) Stake Lessened by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 4.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,347 shares of the financial services provider’s stock after selling 2,920 shares during the quarter. Thrivent Financial for Lutherans’ holdings in United Bankshares were worth $1,990,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. US Bancorp DE increased its holdings in shares of United Bankshares by 30.1% in the 4th quarter. US Bancorp DE now owns 24,656 shares of the financial services provider’s stock valued at $926,000 after purchasing an additional 5,702 shares during the period. Advisory Services Network LLC purchased a new stake in United Bankshares in the 4th quarter worth approximately $161,000. TFO Wealth Partners LLC boosted its stake in shares of United Bankshares by 47,150.0% during the 4th quarter. TFO Wealth Partners LLC now owns 3,780 shares of the financial services provider’s stock valued at $142,000 after buying an additional 3,772 shares during the period. Rafferty Asset Management LLC grew its holdings in shares of United Bankshares by 8.9% during the 4th quarter. Rafferty Asset Management LLC now owns 153,576 shares of the financial services provider’s stock valued at $5,767,000 after acquiring an additional 12,548 shares in the last quarter. Finally, Beacon Investment Advisors LLC acquired a new position in shares of United Bankshares in the fourth quarter worth $202,000. 70.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

UBSI has been the subject of a number of research reports. Stephens lifted their price objective on United Bankshares from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. StockNews.com cut United Bankshares from a “hold” rating to a “sell” rating in a research note on Thursday, September 26th. DA Davidson raised their price objective on shares of United Bankshares from $36.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of United Bankshares from $38.00 to $40.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $40.25.

United Bankshares Stock Down 2.9 %

UBSI opened at $36.02 on Wednesday. The firm has a market cap of $4.87 billion, a P/E ratio of 13.75 and a beta of 0.99. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.99 and a current ratio of 1.00. The business has a 50 day moving average price of $37.20 and a 200 day moving average price of $34.73. United Bankshares, Inc. has a twelve month low of $25.35 and a twelve month high of $39.93.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.07. The business had revenue of $255.94 million during the quarter, compared to the consensus estimate of $255.54 million. United Bankshares had a net margin of 22.44% and a return on equity of 7.72%. United Bankshares’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 EPS. Research analysts forecast that United Bankshares, Inc. will post 2.7 EPS for the current year.

United Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $0.37 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.11%. United Bankshares’s payout ratio is presently 56.49%.

About United Bankshares

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.