United Bankshares, Inc. (NASDAQ:UBSI) Position Cut by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 0.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,862 shares of the financial services provider’s stock after selling 485 shares during the quarter. Thrivent Financial for Lutherans’ holdings in United Bankshares were worth $2,258,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ProShare Advisors LLC lifted its position in shares of United Bankshares by 110.4% during the 2nd quarter. ProShare Advisors LLC now owns 2,206,434 shares of the financial services provider’s stock valued at $71,577,000 after acquiring an additional 1,157,579 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in shares of United Bankshares by 16.7% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,558,081 shares of the financial services provider’s stock worth $57,805,000 after acquiring an additional 223,150 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of United Bankshares by 1.8% during 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 acquiring an additional 142,545 shares in the last quarter. Systematic Financial Management LP increased its position in United Bankshares by 73.8% during the second quarter. Systematic Financial Management LP now owns 279,039 shares of the financial services provider’s stock worth $9,052,000 after buying an additional 118,501 shares during the last quarter. Finally, Nicholson Wealth Management Group LLC acquired a new position in United Bankshares during the third quarter worth $2,849,000. 70.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised United Bankshares from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $40.25.

United Bankshares Price Performance

UBSI stock opened at $42.49 on Thursday. The stock has a 50-day moving average price of $38.68 and a two-hundred day moving average price of $36.18. The stock has a market cap of $5.75 billion, a PE ratio of 16.22 and a beta of 0.98. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.11. United Bankshares, Inc. has a 1 year low of $30.68 and a 1 year high of $44.43.

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

United Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.48 annualized dividend and a yield of 3.48%. United Bankshares’s dividend payout ratio is currently 56.06%.

Insider Transactions at United Bankshares

In related news, Director Peter A. Converse sold 5,000 shares of United Bankshares stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $40.00, for a total value of $200,000.00. Following the transaction, the director now directly owns 434,769 shares of the company’s stock, valued at $17,390,760. This trade represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director J Paul Mcnamara sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $42.86, for a total transaction of $107,150.00. Following the completion of the sale, the director now owns 63,409 shares in the company, valued at $2,717,709.74. This represents a 3.79 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.66% 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.