Russell Investments Group Ltd. reduced its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 6.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,337 shares of the financial services provider’s stock after selling 4,277 shares during the period. Russell Investments Group Ltd. owned approximately 0.06% of United Bankshares worth $2,268,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Citigroup Inc. increased its holdings in United Bankshares by 187.6% in the 1st quarter. Citigroup Inc. now owns 4,285 shares of the financial services provider’s stock valued at $151,000 after purchasing an additional 2,795 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in United Bankshares in the 1st quarter valued at $200,000. Personal Capital Advisors Corp acquired a new stake in United Bankshares in the 1st quarter valued at $221,000. Tyers Asset Management LLC increased its holdings in United Bankshares by 32.8% in the 4th quarter. Tyers Asset Management LLC now owns 7,248 shares of the financial services provider’s stock valued at $252,000 after purchasing an additional 1,792 shares in the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of United Bankshares during the first quarter valued at about $254,000. Hedge funds and other institutional investors own 70.17% of the company’s stock.
UBSI has been the subject of several recent analyst reports. ValuEngine downgraded United Bankshares from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Zacks Investment Research downgraded United Bankshares from a “hold” rating to a “sell” rating in a research note on Thursday, April 12th. DA Davidson lowered their target price on United Bankshares from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Friday, April 27th. BidaskClub downgraded United Bankshares from a “buy” rating to a “hold” rating in a research note on Thursday, June 28th. Finally, TheStreet downgraded United Bankshares from a “b-” rating to a “c+” rating in a research note on Wednesday, April 11th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. United Bankshares currently has a consensus rating of “Hold” and an average target price of $39.33.
United Bankshares (NASDAQ:UBSI) last announced its earnings results on Thursday, July 26th. The financial services provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.02. The company had revenue of $185.13 million during the quarter, compared to the consensus estimate of $184.65 million. United Bankshares had a return on equity of 6.50% and a net margin of 21.34%. During the same period last year, the firm earned $0.37 earnings per share. equities analysts expect that United Bankshares, Inc. will post 2.45 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 2nd. Investors of record on Friday, June 8th were paid a $0.34 dividend. The ex-dividend date was Thursday, June 7th. This represents a $1.36 dividend on an annualized basis and a yield of 3.63%. United Bankshares’s dividend payout ratio (DPR) is 71.58%.
About United Bankshares
United Bankshares, Inc, a financial holding company, 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.
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