Huntington National Bank trimmed its position in United Bankshares, Inc. (NASDAQ:UBSI – Free Report) by 82.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,249 shares of the financial services provider’s stock after selling 19,309 shares during the quarter. Huntington National Bank’s holdings in United Bankshares were worth $163,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new position in United Bankshares in the 3rd quarter valued at about $25,000. Rothschild Investment LLC boosted its holdings in United Bankshares by 174.8% in the 3rd quarter. Rothschild Investment LLC now owns 838 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 533 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in United Bankshares by 196.2% in the 4th quarter. Farther Finance Advisors LLC now owns 856 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 567 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in United Bankshares by 528.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,175 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 988 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new position in United Bankshares in the 4th quarter valued at about $91,000. 70.80% of the stock is currently owned by institutional investors and hedge funds.
United Bankshares Stock Performance
Shares of UBSI stock opened at $43.41 on Monday. The firm’s 50 day moving average price is $42.72 and its 200-day moving average price is $41.14. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98. United Bankshares, Inc. has a one year low of $34.10 and a one year high of $45.92. The firm has a market cap of $5.98 billion, a P/E ratio of 12.16 and a beta of 0.71.
United Bankshares Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Friday, June 12th. United Bankshares’s dividend payout ratio is currently 42.58%.
Analyst Upgrades and Downgrades
UBSI has been the topic of several recent analyst reports. Weiss Ratings upgraded shares of United Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 13th. Raymond James Financial reiterated an “outperform” rating and issued a $49.00 target price on shares of United Bankshares in a report on Monday, April 27th. Finally, Zacks Research lowered shares of United Bankshares from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $45.75.
Check Out Our Latest Analysis on UBSI
About United Bankshares
United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company’s core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.
United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.
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