Federated Hermes Inc. Sells 1,715 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Posted by Defense World Staff on Mar 10th, 2023

Federated Hermes Inc. decreased its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI – Get Rating) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 84,118 shares of the financial services provider’s stock after selling 1,715 shares during the quarter. Federated Hermes Inc. owned about 0.06% of United Bankshares worth $3,007,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of United Bankshares by 2.7% in the 1st quarter. BlackRock Inc. now owns 18,874,678 shares of the financial services provider’s stock worth $658,348,000 after acquiring an additional 495,652 shares during the period. State Street Corp raised its holdings in shares of United Bankshares by 17.5% in the 2nd quarter. State Street Corp now owns 16,629,946 shares of the financial services provider’s stock worth $589,103,000 after buying an additional 2,473,671 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of United Bankshares by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 13,508,712 shares of the financial services provider’s stock worth $471,184,000 after buying an additional 624,816 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of United Bankshares by 4.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,959,880 shares of the financial services provider’s stock worth $248,817,000 after buying an additional 265,610 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its holdings in shares of United Bankshares by 0.8% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,893,748 shares of the financial services provider’s stock worth $66,054,000 after buying an additional 14,291 shares in the last quarter. Institutional investors own 68.73% of the company’s stock.

Analysts Set New Price Targets

UBSI has been the subject of a number of recent research reports. Piper Sandler reissued a “neutral” rating and issued a $45.00 target price on shares of United Bankshares in a report on Monday, December 5th. StockNews.com cut United Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday, January 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, United Bankshares currently has a consensus rating of “Hold” and an average target price of $41.33.

United Bankshares Trading Down 4.4 %

UBSI stock opened at $36.72 on Friday. The business has a fifty day moving average price of $40.38 and a 200 day moving average price of $39.75. United Bankshares, Inc. has a fifty-two week low of $33.11 and a fifty-two week high of $44.15. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 13.07 and a beta of 1.05. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.96 and a quick ratio of 0.95.

United Bankshares (NASDAQ:UBSI – Get Rating) last released its quarterly earnings results on Thursday, January 26th. The financial services provider reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.04). United Bankshares had a net margin of 32.86% and a return on equity of 8.42%. The business had revenue of $338.62 million for the quarter, compared to analyst estimates of $275.77 million. During the same period in the prior year, the business earned $0.56 earnings per share. Analysts expect that United Bankshares, Inc. will post 2.95 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Friday, March 10th will be paid a $0.36 dividend. The ex-dividend date is Thursday, March 9th. This represents a $1.44 annualized dividend and a dividend yield of 3.92%. United Bankshares’s dividend payout ratio (DPR) is currently 51.25%.

United Bankshares Company Profile

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United Bankshares, Inc is a bank holding company, which engages in the provision of commercial and retail banking services and products. It operates through the following segments: Community Banking, Mortgage Banking, and Other. The Community Banking segment consists of both commercial and consumer lending and provides customers with such products as commercial loans, real estate loans, business financing, and consumer loans.

Institutional Ownership by Quarter for United Bankshares (NASDAQ:UBSI)

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