Brandywine Global Investment Management LLC Sells 5,155 Shares of United Bankshares, Inc. (UBSI)
Brandywine Global Investment Management LLC lessened its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 3.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 150,426 shares of the financial services provider’s stock after selling 5,155 shares during the period. Brandywine Global Investment Management LLC owned 0.14% of United Bankshares worth $5,897,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the business. BlackRock Inc. increased its stake in United Bankshares by 9.2% during the 2nd quarter. BlackRock Inc. now owns 13,701,878 shares of the financial services provider’s stock worth $537,113,000 after acquiring an additional 1,150,017 shares during the period. Vanguard Group Inc. increased its stake in United Bankshares by 20.7% during the 2nd quarter. Vanguard Group Inc. now owns 8,674,789 shares of the financial services provider’s stock worth $340,052,000 after acquiring an additional 1,488,580 shares during the period. State Street Corp increased its stake in United Bankshares by 35.4% during the 1st quarter. State Street Corp now owns 8,277,092 shares of the financial services provider’s stock worth $349,708,000 after acquiring an additional 2,163,599 shares during the period. Northern Trust Corp increased its stake in United Bankshares by 60.3% during the 2nd quarter. Northern Trust Corp now owns 2,939,523 shares of the financial services provider’s stock worth $115,229,000 after acquiring an additional 1,105,697 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in United Bankshares by 52.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,877,091 shares of the financial services provider’s stock worth $112,787,000 after acquiring an additional 989,666 shares during the period. Hedge funds and other institutional investors own 62.25% of the company’s stock.
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A number of equities analysts have commented on the company. Zacks Investment Research upgraded United Bankshares from a “sell” rating to a “hold” rating in a research note on Thursday, September 28th. BidaskClub lowered United Bankshares from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. The company presently has an average rating of “Hold” and an average price target of $42.50.
United Bankshares, Inc. (NASDAQ:UBSI) opened at 36.80 on Thursday. United Bankshares, Inc. has a 52 week low of $31.70 and a 52 week high of $49.35. The stock has a 50 day moving average price of $34.53 and a 200 day moving average price of $37.72. The company has a market cap of $3.86 billion, a price-to-earnings ratio of 19.69 and a beta of 1.07.
United Bankshares (NASDAQ:UBSI) last posted its earnings results on Thursday, July 27th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.14). The company had revenue of $176.75 million for the quarter, compared to analysts’ expectations of $164.09 million. United Bankshares had a return on equity of 6.42% and a net margin of 25.20%. During the same quarter in the prior year, the company earned $0.44 EPS. On average, equities analysts forecast that United Bankshares, Inc. will post $1.92 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were given a dividend of $0.33 per share. The ex-dividend date was Thursday, September 7th. This represents a $1.32 annualized dividend and a dividend yield of 3.59%. United Bankshares’s dividend payout ratio is currently 69.47%.
United Bankshares declared that its board has authorized a stock repurchase program on Monday, August 28th that permits the company to repurchase 2,000,000 outstanding shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
In other news, Director Gary G. White purchased 1,000 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were purchased at an average price of $33.33 per share, with a total value of $33,330.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter A. Converse purchased 3,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was purchased at an average cost of $33.15 per share, for a total transaction of $99,450.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 15,247 shares of company stock worth $510,526. Company insiders own 6.23% of the company’s stock.
United Bankshares Profile
United Bankshares, Inc (United) is a bank holding company. The Company operates through community banking segment. United’s Banking Subsidiaries offer a range of commercial and retail banking services and products. United, through its subsidiaries, engages in community banking and offers banking products and services permitted by law and regulation.
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