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

Thrivent Financial for Lutherans lowered its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 12.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 53,353 shares of the financial services provider’s stock after selling 7,509 shares during the period. Thrivent Financial for Lutherans’ holdings in United Bankshares were worth $2,003,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in UBSI. Cibc World Markets Corp bought a new position in United Bankshares during the fourth quarter valued at approximately $465,000. Natixis Advisors LLC raised its stake in United Bankshares by 3.4% during the 4th quarter. Natixis Advisors LLC now owns 347,564 shares of the financial services provider’s stock valued at $13,051,000 after buying an additional 11,535 shares during the last quarter. Swiss National Bank lifted its holdings in shares of United Bankshares by 0.8% during the 4th quarter. Swiss National Bank now owns 265,963 shares of the financial services provider’s stock valued at $9,987,000 after buying an additional 2,000 shares during the period. Hopwood Financial Services Inc. purchased a new position in shares of United Bankshares in the 4th quarter worth $117,000. Finally, HighTower Advisors LLC grew its holdings in shares of United Bankshares by 16.1% in the fourth quarter. HighTower Advisors LLC now owns 22,683 shares of the financial services provider’s stock worth $852,000 after acquiring an additional 3,141 shares during the period. Hedge funds and other institutional investors own 70.80% of the company’s stock.

United Bankshares Stock Down 1.3 %

NASDAQ UBSI opened at $34.40 on Friday. United Bankshares, Inc. has a 52 week low of $30.68 and a 52 week high of $44.43. 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 company has a market capitalization of $4.93 billion, a P/E ratio of 12.55 and a beta of 0.98. The stock’s 50-day moving average price is $36.60 and its 200-day moving average price is $38.00.

United Bankshares (NASDAQ:UBSI) last released its earnings results on Friday, January 24th. The financial services provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. United Bankshares had a net margin of 22.94% and a return on equity of 7.60%. During the same quarter in the previous year, the business posted $0.59 EPS. On average, equities research analysts predict that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date is Friday, March 14th. United Bankshares’s dividend payout ratio (DPR) is 54.01%.

Insider Buying and Selling

In other United Bankshares news, Director Sara Dumond purchased 2,600 shares of the company’s stock in a transaction on Monday, March 24th. The stock was acquired at an average cost of $35.01 per share, for a total transaction of $91,026.00. Following the purchase, the director now directly owns 5,054 shares of the company’s stock, valued at $176,940.54. This trade represents a 105.95 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.66% of the stock is currently owned by insiders.

Analysts Set New Price Targets

UBSI has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lowered their target price on United Bankshares from $46.00 to $45.00 and set a “market perform” rating on the stock in a report on Monday, January 27th. StockNews.com cut shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Monday, January 27th. Stephens restated 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, Piper Sandler reiterated a “neutral” rating and issued a $38.50 price target on shares of United Bankshares in a research report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $41.88.

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.