United Bankshares, Inc. (NASDAQ:UBSI) Shares Sold by Comerica Bank

Comerica Bank cut its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 4.2% during the 4th quarter, Holdings Channel reports. The firm owned 52,487 shares of the financial services provider’s stock after selling 2,322 shares during the period. Comerica Bank’s holdings in United Bankshares were worth $1,971,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in United Bankshares by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 14,310,562 shares of the financial services provider’s stock valued at $537,362,000 after buying an additional 115,681 shares during the last quarter. Earnest Partners LLC boosted its stake in shares of United Bankshares by 0.7% during the fourth quarter. Earnest Partners LLC now owns 4,199,136 shares of the financial services provider’s stock valued at $157,678,000 after acquiring an additional 29,898 shares during the last quarter. Northern Trust Corp increased its position in United Bankshares by 13.7% during the 4th quarter. Northern Trust Corp now owns 1,774,018 shares of the financial services provider’s stock worth $66,614,000 after purchasing an additional 213,441 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in United Bankshares by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,710,588 shares of the financial services provider’s stock valued at $64,233,000 after purchasing an additional 37,532 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in United Bankshares by 3.5% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,612,170 shares of the financial services provider’s stock valued at $60,538,000 after purchasing an additional 54,089 shares in the last quarter. 70.80% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at United Bankshares

In other United Bankshares news, Director Sara Dumond purchased 2,600 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was purchased at an average cost of $35.01 per share, with a total value of $91,026.00. Following the transaction, the director now owns 5,054 shares in the company, valued at approximately $176,940.54. This trade represents a 105.95 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.46% of the company’s stock.

United Bankshares Stock Down 0.8 %

Shares of NASDAQ UBSI opened at $35.52 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $5.10 billion, a PE ratio of 12.96 and a beta of 0.74. The firm has a fifty day moving average of $34.06 and a 200-day moving average of $37.27. United Bankshares, Inc. has a 52-week low of $30.51 and a 52-week high of $44.43.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.59 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.07). The firm had revenue of $289.61 million for the quarter, compared to analyst estimates of $279.02 million. United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. The business’s revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 earnings per share. On average, analysts anticipate that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a yield of 4.17%. United Bankshares’s dividend payout ratio (DPR) is 55.02%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. StockNews.com downgraded shares of United Bankshares from a “hold” rating to a “sell” rating in a report on Monday, January 27th. Piper Sandler reaffirmed a “neutral” rating and issued a $38.50 target price 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. Finally, Stephens reiterated an “equal weight” rating and issued a $43.00 target price on shares of United Bankshares in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat.com, United Bankshares has a consensus rating of “Hold” and a consensus target price of $40.63.

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.