Truist Financial Corp Raises Stock Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

Truist Financial Corp grew its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 69.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,916 shares of the financial services provider’s stock after buying an additional 9,418 shares during the quarter. Truist Financial Corp’s holdings in United Bankshares were worth $860,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of UBSI. Wilmington Savings Fund Society FSB increased its position in United Bankshares by 1,921.1% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,435 shares of the financial services provider’s stock worth $54,000 after buying an additional 1,364 shares in the last quarter. Principal Securities Inc. increased its position in United Bankshares by 10.1% in the fourth quarter. Principal Securities Inc. now owns 3,115 shares of the financial services provider’s stock worth $117,000 after buying an additional 285 shares in the last quarter. Milestone Asset Management LLC bought a new position in shares of United Bankshares in the fourth quarter worth about $201,000. Choreo LLC bought a new position in shares of United Bankshares in the fourth quarter worth about $206,000. Finally, Quest Partners LLC boosted its stake in shares of United Bankshares by 377.2% in the third quarter. Quest Partners LLC now owns 5,641 shares of the financial services provider’s stock worth $209,000 after acquiring an additional 4,459 shares during the period. Hedge funds and other institutional investors own 70.80% of the company’s stock.

United Bankshares Price Performance

Shares of United Bankshares stock opened at $36.14 on Friday. The stock has a 50 day moving average of $37.67 and a 200 day moving average of $38.37. United Bankshares, Inc. has a 12 month low of $30.68 and a 12 month high of $44.43. The firm has a market cap of $4.89 billion, a PE ratio of 13.19 and a beta of 1.02. 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) last announced its quarterly earnings results on Friday, January 24th. The financial services provider reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. During the same quarter last year, the firm earned $0.59 earnings per share. On average, research analysts expect that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a yield of 4.10%. United Bankshares’s dividend payout ratio (DPR) is presently 54.01%.

Insider Buying and Selling at United Bankshares

In other news, Director Mark R. Nesselroad sold 6,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $39.16, for a total value of $234,960.00. Following the sale, the director now directly owns 35,424 shares in the company, valued at approximately $1,387,203.84. This represents a 14.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on UBSI shares. StockNews.com lowered United Bankshares from a “hold” rating to a “sell” rating in a research note on Monday, January 27th. Stephens reaffirmed an “equal weight” rating and issued a $43.00 price objective on shares of United Bankshares in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods dropped their price objective on United Bankshares from $46.00 to $45.00 and set a “market perform” rating for the company in a research note on Monday, January 27th.

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.