Thrivent Financial for Lutherans Cuts Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

Thrivent Financial for Lutherans cut its position in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 0.8% during the 3rd quarter, Holdings Channel reports. The firm 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in UBSI. O Shaughnessy Asset Management LLC purchased a new position in United Bankshares in the first quarter valued at about $305,000. Price T Rowe Associates Inc. MD lifted its stake in shares of United Bankshares by 5.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 91,228 shares of the financial services provider’s stock valued at $3,266,000 after buying an additional 5,021 shares in the last quarter. Tidal Investments LLC purchased a new stake in shares of United Bankshares during the 1st quarter valued at approximately $242,000. Atria Investments Inc purchased a new stake in shares of United Bankshares during the 1st quarter valued at approximately $1,072,000. Finally, Verity Asset Management Inc. increased its holdings in United Bankshares by 5.7% during the 1st quarter. Verity Asset Management Inc. now owns 24,021 shares of the financial services provider’s stock worth $860,000 after acquiring an additional 1,289 shares during the period. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

United Bankshares Price Performance

Shares of NASDAQ:UBSI opened at $42.49 on Thursday. The company’s fifty day moving average price is $38.68 and its 200-day moving average price is $36.18. The firm has a market capitalization of $5.75 billion, a price-to-earnings ratio of 16.22 and a beta of 0.98. United Bankshares, Inc. has a one year low of $30.68 and a one year high of $44.43. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.96.

United Bankshares (NASDAQ:UBSI) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.70 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $260.30 million. During the same quarter last year, the firm earned $0.71 EPS. On average, equities research analysts anticipate that United Bankshares, Inc. will post 2.73 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a dividend of $0.37 per share. 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 payout ratio is currently 56.06%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at United Bankshares

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

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.