Federated Hermes Inc. Sells 9,334 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Federated Hermes Inc. lowered its position in United Bankshares, Inc. (NASDAQ:UBSI) by 13.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,506 shares of the financial services provider’s stock after selling 9,334 shares during the period. Federated Hermes Inc.’s holdings in United Bankshares were worth $2,234,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Fifth Third Bancorp increased its holdings in shares of United Bankshares by 206.0% in the fourth quarter. Fifth Third Bancorp now owns 976 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 657 shares in the last quarter. Key Financial Inc increased its holdings in shares of United Bankshares by 735.6% in the third quarter. Key Financial Inc now owns 1,830 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 1,611 shares in the last quarter. Anchor Investment Management LLC acquired a new stake in shares of United Bankshares in the fourth quarter valued at approximately $95,000. Covestor Ltd increased its holdings in shares of United Bankshares by 133.7% in the third quarter. Covestor Ltd now owns 3,659 shares of the financial services provider’s stock valued at $101,000 after purchasing an additional 2,093 shares in the last quarter. Finally, Courier Capital LLC acquired a new stake in shares of United Bankshares in the fourth quarter valued at approximately $217,000. Institutional investors own 70.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on UBSI shares. Stephens lowered their target price on shares of United Bankshares from $36.00 to $34.00 and set an “equal weight” rating for the company in a report on Friday. Raymond James lifted their target price on shares of United Bankshares from $38.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, January 5th.

United Bankshares Trading Down 0.0 %

Shares of NASDAQ UBSI opened at $33.35 on Monday. The company’s fifty day moving average is $34.22 and its 200-day moving average is $34.02. The stock has a market cap of $4.50 billion, a price-to-earnings ratio of 12.73 and a beta of 1.00. United Bankshares, Inc. has a twelve month low of $25.35 and a twelve month high of $38.74. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.37.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). The firm had revenue of $401.39 million for the quarter, compared to the consensus estimate of $256.80 million. United Bankshares had a return on equity of 7.77% and a net margin of 22.51%. During the same period in the prior year, the business earned $0.74 earnings per share. Equities research analysts predict that United Bankshares, Inc. will post 2.64 EPS for the current year.

United Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.44%. United Bankshares’s dividend payout ratio is 56.49%.

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.