Corebridge Financial Inc. Decreases Stock Position in United Bankshares, Inc. (NASDAQ:UBSI)

Corebridge Financial Inc. decreased its position in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 5.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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. owned approximately 0.16% of United Bankshares worth $8,165,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in UBSI. Jane Street Group LLC grew its holdings in United Bankshares by 27.2% during the 3rd quarter. Jane Street Group LLC now owns 161,489 shares of the financial services provider’s stock valued at $5,991,000 after buying an additional 34,526 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of United Bankshares by 5.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,673,056 shares of the financial services provider’s stock valued at $62,070,000 after acquiring an additional 83,503 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of United Bankshares by 73.1% in the third quarter. BNP Paribas Financial Markets now owns 50,953 shares of the financial services provider’s stock valued at $1,890,000 after purchasing an additional 21,520 shares in the last quarter. Daiwa Securities Group Inc. increased its position in United Bankshares by 3.6% in the third quarter. Daiwa Securities Group Inc. now owns 12,328 shares of the financial services provider’s stock worth $457,000 after purchasing an additional 427 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake 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 valued at $22,068,000 after purchasing an additional 52,949 shares in the last quarter. 70.80% of the stock is owned by institutional investors.

United Bankshares Stock Performance

Shares of UBSI stock opened at $34.86 on Friday. United Bankshares, Inc. has a 12-month low of $30.68 and a 12-month high of $44.43. The business’s fifty day simple moving average is $36.68 and its 200-day simple moving average is $38.02. 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 company has a market cap of $4.99 billion, a PE ratio of 12.72 and a beta of 0.98.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings data on Friday, January 24th. The financial services provider reported $0.69 EPS for the quarter, topping the consensus estimate 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 prior year, the company earned $0.59 earnings per share. Analysts expect that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a yield of 4.25%. United Bankshares’s dividend payout ratio is currently 54.01%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. StockNews.com cut shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Monday, January 27th. Stephens reaffirmed an “equal weight” rating and issued a $43.00 price objective on shares of United Bankshares in a research note on Monday, January 27th. Piper Sandler reiterated a “neutral” rating and set a $38.50 price objective on shares of United Bankshares in a research report on Wednesday, March 12th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of United Bankshares from $46.00 to $45.00 and set a “market perform” rating for the company in a report on Monday, January 27th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, United Bankshares has an average rating of “Hold” and a consensus price target of $41.88.

Insider Buying and Selling at United Bankshares

In other United Bankshares news, Director Sara Dumond bought 2,600 shares of the stock in a transaction on Monday, March 24th. The shares were bought at an average price of $35.01 per share, with a total value of $91,026.00. Following the purchase, the director now directly owns 5,054 shares in the company, valued at $176,940.54. This trade represents a 105.95 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.66% of the stock is owned by corporate insiders.

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.