Fintel reports that State Street has filed a 13G/A form with the SEC disclosing ownership of 14.24MM shares of United Bankshares, Inc. (UBSI). This represents 10.58% of the company.
In their previous filing dated February 11, 2022 they reported 11.37MM shares and 8.34% of the company, an increase in shares of 25.24% and an increase in total ownership of 2.24% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 3.22% Upside
As of February 6, 2023, the average one-year price target for United Bankshares is $43.04. The forecasts range from a low of $40.40 to a high of $47.25. The average price target represents an increase of 3.22% from its latest reported closing price of $41.70.
The projected annual revenue for United Bankshares is $1,129MM, an increase of 9.52%. The projected annual EPS is $3.02, an increase of 7.27%.
Fund Sentiment
There are 641 funds or institutions reporting positions in United Bankshares. This is an increase of 22 owner(s) or 3.55%.
Average portfolio weight of all funds dedicated to US:UBSI is 0.1832%, an increase of 6.7675%. Total shares owned by institutions increased in the last three months by 0.27% to 105,594K shares.
What are large shareholders doing?
SDY - SPDR Dividend ETF holds 7,705,021 shares representing 5.73% ownership of the company. In it's prior filing, the firm reported owning 8,362,251 shares, representing a decrease of 8.53%. The firm decreased its portfolio allocation in UBSI by 4.12% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,050,653 shares representing 3.01% ownership of the company. In it's prior filing, the firm reported owning 3,990,660 shares, representing an increase of 1.48%. The firm increased its portfolio allocation in UBSI by 7.86% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 3,932,735 shares representing 2.93% ownership of the company. In it's prior filing, the firm reported owning 3,901,942 shares, representing an increase of 0.78%. The firm increased its portfolio allocation in UBSI by 3.26% over the last quarter.
Silvercrest Asset Management Group holds 3,778,589 shares representing 2.81% ownership of the company. In it's prior filing, the firm reported owning 3,907,756 shares, representing a decrease of 3.42%. The firm increased its portfolio allocation in UBSI by 6.63% over the last quarter.
DVY - iShares Select Dividend ETF holds 3,532,153 shares representing 2.63% ownership of the company. In it's prior filing, the firm reported owning 3,471,923 shares, representing an increase of 1.71%. The firm increased its portfolio allocation in UBSI by 12.70% over the last quarter.
United Bankshares Declares $0.36 Dividend
United Bankshares said on November 18, 2022 that its board of directors declared a regular quarterly dividend of $0.36 per share ($1.44 annualized). Shareholders of record as of December 8, 2022 received the payment on January 3, 2023. Previously, the company paid $0.36 per share.
At the current share price of $41.70 / share, the stock's dividend yield is 3.45%. Looking back five years and taking a sample every week, the average dividend yield has been 4.05%, the lowest has been 3.31%, and the highest has been 6.68%. The standard deviation of yields is 0.66 (n=236).
The current dividend yield is 0.91 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.51. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.03%, demonstrating that it has increased its dividend over time.
United Bankshares Background Information
(This description is provided by the company.)
As of December 31, 2020, United had consolidated assets of approximately $26.2 billion. United is the parent company of United Bank, the largest community bank headquartered in the D.C. Metro region. United Bank has 230 offices in West Virginia, Virginia, Ohio, Pennsylvania, Maryland, North Carolina, South Carolina, Georgia, and the nation's capital.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
