United Bankshares, Inc. (NASDAQ:UBSI) Shares Sold by Heritage Wealth Advisors

Heritage Wealth Advisors lowered its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 77.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,959 shares of the financial services provider’s stock after selling 16,801 shares during the period. Heritage Wealth Advisors’ holdings in United Bankshares were worth $177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of UBSI. Vanguard Group Inc. raised its position in shares of United Bankshares by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 14,202,951 shares of the financial services provider’s stock worth $533,321,000 after acquiring an additional 71,359 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of United Bankshares by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,291,001 shares of the financial services provider’s stock worth $273,782,000 after acquiring an additional 172,997 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of United Bankshares by 2,745.7% during the 4th quarter. Victory Capital Management Inc. now owns 2,835,545 shares of the financial services provider’s stock worth $106,475,000 after acquiring an additional 2,735,901 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of United Bankshares by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,486,804 shares of the financial services provider’s stock worth $55,829,000 after acquiring an additional 60,465 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its position in shares of United Bankshares by 14.8% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,311,291 shares of the financial services provider’s stock worth $46,931,000 after acquiring an additional 169,200 shares in the last quarter. Institutional investors and hedge funds own 70.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on UBSI shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $38.00 price target on shares of United Bankshares in a research report on Monday, June 17th. Stephens lowered their target price on United Bankshares from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $37.00.

United Bankshares Price Performance

UBSI stock traded up $0.66 during midday trading on Wednesday, hitting $37.67. 1,041,838 shares of the stock were exchanged, compared to its average volume of 519,033. The stock’s 50-day moving average price is $32.66 and its 200-day moving average price is $34.12. The stock has a market cap of $5.09 billion, a price-to-earnings ratio of 14.13 and a beta of 1.00. United Bankshares, Inc. has a fifty-two week low of $25.35 and a fifty-two week high of $38.74. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.99 and a current ratio of 0.99.

United Bankshares (NASDAQ:UBSI) last released 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). United Bankshares had a return on equity of 7.72% and a net margin of 22.51%. The company had revenue of $401.39 million during the quarter, compared to analyst estimates of $256.80 million. During the same period last year, the firm earned $0.74 earnings per share. Research analysts predict that United Bankshares, Inc. will post 2.61 earnings per share for the current year.

United Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were paid a $0.37 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.48 annualized dividend and a yield of 3.93%. United Bankshares’s payout ratio is currently 56.49%.

United Bankshares Company Profile

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.