Truist Financial Corp Grows Stake in United Bankshares, Inc. (NASDAQ:UBSI)

Truist Financial Corp boosted its position in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 69.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,916 shares of the financial services provider’s stock after purchasing 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 filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of UBSI. Wilmington Savings Fund Society FSB increased its holdings in United Bankshares by 1,921.1% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,435 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 1,364 shares during the period. Principal Securities Inc. increased its holdings in United Bankshares by 10.1% during the 4th quarter. Principal Securities Inc. now owns 3,115 shares of the financial services provider’s stock worth $117,000 after purchasing an additional 285 shares during the period. Milestone Asset Management LLC purchased a new position in United Bankshares during the 4th quarter worth $201,000. Choreo LLC bought a new stake in United Bankshares during the 4th quarter valued at $206,000. Finally, Quest Partners LLC boosted its position in United Bankshares by 377.2% during the 3rd quarter. Quest Partners LLC now owns 5,641 shares of the financial services provider’s stock valued at $209,000 after acquiring an additional 4,459 shares in the last quarter. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other United Bankshares news, Director Mark R. Nesselroad sold 6,000 shares of United Bankshares stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $39.16, for a total transaction of $234,960.00. Following the completion of the sale, the director now owns 35,424 shares of the company’s stock, valued at approximately $1,387,203.84. The trade was a 14.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.66% of the stock is currently owned by insiders.

United Bankshares Stock Up 1.1 %

United Bankshares stock opened at $36.14 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market capitalization of $4.89 billion, a price-to-earnings ratio of 13.19 and a beta of 1.02. United Bankshares, Inc. has a 1-year low of $30.68 and a 1-year high of $44.43. The business has a fifty day moving average price of $37.67 and a 200-day moving average price of $38.37.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings data on Friday, January 24th. The financial services provider reported $0.69 earnings per share for the quarter, topping 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 period in the previous year, the business posted $0.59 earnings per share. Equities research analysts forecast that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Announces Dividend

The company also recently declared 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 of this dividend 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 is currently 54.01%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Keefe, Bruyette & Woods dropped their target price on United Bankshares from $46.00 to $45.00 and set a “market perform” rating on the stock in a research report on Monday, January 27th. Stephens reaffirmed an “equal weight” rating and set a $43.00 target price on shares of United Bankshares in a research report on Monday, January 27th. Finally, StockNews.com cut United Bankshares from a “hold” rating to a “sell” rating in a research report on Monday, January 27th.

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.