US Bancorp DE Cuts Stock Position in United Bankshares, Inc. (NASDAQ:UBSI)

US Bancorp DE lowered its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 4.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,393 shares of the financial services provider’s stock after selling 1,091 shares during the period. US Bancorp DE’s holdings in United Bankshares were worth $794,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Dimensional Fund Advisors LP boosted its position in United Bankshares by 1.8% in the second quarter. Dimensional Fund Advisors LP now owns 7,907,665 shares of the financial services provider’s stock worth $256,521,000 after purchasing an additional 142,545 shares during the last quarter. Earnest Partners LLC raised its stake in shares of United Bankshares by 1.8% in the second quarter. Earnest Partners LLC now owns 4,253,797 shares of the financial services provider’s stock valued at $137,993,000 after buying an additional 74,638 shares during the period. Victory Capital Management Inc. raised its stake in shares of United Bankshares by 1.4% in the second quarter. Victory Capital Management Inc. now owns 3,982,478 shares of the financial services provider’s stock valued at $129,192,000 after buying an additional 55,633 shares during the period. ProShare Advisors LLC raised its stake in shares of United Bankshares by 110.4% in the second quarter. ProShare Advisors LLC now owns 2,206,434 shares of the financial services provider’s stock valued at $71,577,000 after buying an additional 1,157,579 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its stake in shares of United Bankshares by 1.8% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,334,931 shares of the financial services provider’s stock valued at $43,305,000 after buying an additional 23,640 shares during the period. Hedge funds and other institutional investors own 70.80% of the company’s stock.

Insider Buying and Selling

In related news, Director Peter A. Converse sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $40.00, for a total transaction of $200,000.00. Following the completion of the transaction, the director now directly owns 434,769 shares in the company, valued at $17,390,760. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.66% of the stock is owned by company insiders.

United Bankshares Stock Performance

NASDAQ:UBSI opened at $41.64 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.97 and a current ratio of 0.97. United Bankshares, Inc. has a 52-week low of $29.19 and a 52-week high of $42.95. The firm has a market cap of $5.63 billion, a price-to-earnings ratio of 15.77 and a beta of 0.98. The business’s fifty day moving average is $37.45 and its 200 day moving average is $35.44.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.03. United Bankshares had a return on equity of 7.58% and a net margin of 22.05%. The company had revenue of $414.67 million for the quarter, compared to analyst estimates of $260.30 million. During the same period in the previous year, the company posted $0.71 EPS. Research analysts predict that United Bankshares, Inc. will post 2.73 EPS for the current year.

United Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend was Friday, September 13th. United Bankshares’s payout ratio is 56.06%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on UBSI shares. Stephens boosted their target price on United Bankshares from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods boosted their target price on United Bankshares from $38.00 to $40.00 and gave the company a “market perform” rating in a research note on Friday, July 26th. DA Davidson boosted their target price on United Bankshares from $36.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Finally, StockNews.com lowered United Bankshares from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $40.25.

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.