United Bankshares, Inc. (NASDAQ:UBSI) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 5.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 217,449 shares of the financial services provider’s stock after selling 11,771 shares during the period. Corebridge Financial Inc.’s holdings in United Bankshares were worth $8,165,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of 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 worth $537,362,000 after purchasing an additional 115,681 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of United Bankshares by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,306,542 shares of the financial services provider’s stock valued at $122,695,000 after acquiring an additional 53,994 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in United Bankshares by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,710,588 shares of the financial services provider’s stock worth $64,233,000 after purchasing an additional 37,532 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in United Bankshares by 3.5% in the fourth 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 during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in United Bankshares by 9.8% during the third quarter. JPMorgan Chase & Co. now owns 594,819 shares of the financial services provider’s stock worth $22,068,000 after purchasing an additional 52,949 shares in the last quarter. 70.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Piper Sandler reissued a “neutral” rating and issued a $38.50 target price on shares of United Bankshares in a report on Wednesday, March 12th. Keefe, Bruyette & Woods lowered their target price on shares of 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. StockNews.com downgraded shares of United Bankshares from a “hold” rating to a “sell” rating in a research report on Monday, January 27th. Finally, Stephens reissued an “equal weight” rating and set a $43.00 price objective on shares of United Bankshares in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat.com, United Bankshares presently has a consensus rating of “Hold” and a consensus target price of $41.88.

Insider Activity

In other United Bankshares news, Director Sara Dumond purchased 2,600 shares of United Bankshares stock in a transaction that occurred on Monday, March 24th. The stock was purchased at an average price of $35.01 per share, with a total value of $91,026.00. Following the completion of the acquisition, the director now owns 5,054 shares of the company’s stock, valued at approximately $176,940.54. This trade represents a 105.95 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.66% of the company’s stock.

United Bankshares Stock Down 0.5 %

Shares of NASDAQ:UBSI opened at $34.86 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. The firm has a market cap of $4.99 billion, a price-to-earnings ratio of 12.72 and a beta of 0.98. The stock’s 50-day moving average price is $36.68 and its two-hundred day moving average price is $38.02. United Bankshares, Inc. has a 12-month low of $30.68 and a 12-month high of $44.43.

United Bankshares (NASDAQ:UBSI) last issued its earnings results on Friday, January 24th. The financial services provider reported $0.69 earnings per share for the quarter, topping the consensus estimate 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 last year, the company posted $0.59 EPS. On average, research analysts forecast that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Dividend Announcement

The company 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 $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 4.25%. The ex-dividend date of this dividend is Friday, March 14th. United Bankshares’s dividend payout ratio (DPR) is 54.01%.

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.