Truist Financial Corp Has $2.48 Million Position in United Bankshares, Inc. (NASDAQ:UBSI)

Truist Financial Corp cut its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 26.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 76,529 shares of the financial services provider’s stock after selling 27,013 shares during the period. Truist Financial Corp owned approximately 0.06% of United Bankshares worth $2,483,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of UBSI. Vaughan Nelson Investment Management L.P. increased its holdings in shares of United Bankshares by 14.8% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,311,291 shares of the financial services provider’s stock worth $46,931,000 after acquiring an additional 169,200 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of United Bankshares by 218.2% in the 2nd quarter. SG Americas Securities LLC now owns 29,676 shares of the financial services provider’s stock worth $963,000 after purchasing an additional 20,350 shares during the period. BNP Paribas Financial Markets boosted its position in United Bankshares by 77.8% during the first quarter. BNP Paribas Financial Markets now owns 69,932 shares of the financial services provider’s stock valued at $2,503,000 after acquiring an additional 30,590 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new stake in shares of United Bankshares during the 1st quarter valued at about $901,000. Finally, State Board of Administration of Florida Retirement System boosted its holdings in shares of United Bankshares by 37.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 51,455 shares of the financial services provider’s stock worth $1,811,000 after buying an additional 14,080 shares in the last quarter. 70.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on UBSI. StockNews.com cut United Bankshares from a “hold” rating to a “sell” rating in a research note on Thursday, September 26th. DA Davidson raised their target price on United Bankshares from $36.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods upped their price objective 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. Finally, Stephens increased their target price on shares of United Bankshares from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $40.25.

United Bankshares Stock Performance

United Bankshares stock opened at $36.08 on Friday. United Bankshares, Inc. has a 1-year low of $25.35 and a 1-year high of $39.93. The firm has a market cap of $4.88 billion, a P/E ratio of 13.77 and a beta of 0.99. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average of $36.84 and a 200-day moving average of $34.83.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.07. The business had revenue of $255.94 million for the quarter, compared to the consensus estimate of $255.54 million. United Bankshares had a net margin of 22.44% and a return on equity of 7.72%. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.68 EPS. Sell-side analysts expect that United Bankshares, Inc. will post 2.7 EPS for the current year.

United Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend was Friday, September 13th. United Bankshares’s dividend payout ratio is presently 56.49%.

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.