United Bankshares, Inc. $UBSI Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 5.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 280,295 shares of the financial services provider’s stock after selling 17,295 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.21% of United Bankshares worth $12,846,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Caitong International Asset Management Co. Ltd acquired a new position in shares of United Bankshares during the third quarter valued at about $25,000. Eurizon Capital SGR S.p.A. acquired a new stake in United Bankshares in the 4th quarter worth approximately $26,000. Farther Finance Advisors LLC grew its position in United Bankshares by 196.2% during the 4th quarter. Farther Finance Advisors LLC now owns 856 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 567 shares during the last quarter. Root Financial Partners LLC grew its position in United Bankshares by 64.4% during the 1st quarter. Root Financial Partners LLC now owns 786 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 308 shares during the last quarter. Finally, Allworth Financial LP acquired a new position in United Bankshares during the 2nd quarter valued at approximately $43,000. Hedge funds and other institutional investors own 70.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on UBSI shares. Wall Street Zen raised shares of United Bankshares from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Keefe, Bruyette & Woods boosted their price objective on shares of United Bankshares from $46.00 to $48.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Weiss Ratings reissued a “buy (b)” rating on shares of United Bankshares in a research report on Monday, July 6th. Raymond James Financial lifted their price target on United Bankshares from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Finally, Hovde Group boosted their price target on United Bankshares from $49.00 to $50.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, United Bankshares has a consensus rating of “Hold” and an average price target of $47.80.

Insider Buying and Selling

In related news, Director Mark Nesselroad sold 3,200 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $46.42, for a total transaction of $148,544.00. Following the sale, the director directly owned 32,224 shares of the company’s stock, valued at $1,495,838.08. This trade represents a 9.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.16% of the stock is currently owned by company insiders.

United Bankshares Stock Up 0.5%

NASDAQ:UBSI opened at $47.83 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.97. The company’s fifty day moving average price is $47.56 and its 200-day moving average price is $44.48. United Bankshares, Inc. has a 1-year low of $34.10 and a 1-year high of $49.62. The firm has a market capitalization of $6.51 billion, a P/E ratio of 13.03 and a beta of 0.70.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.95 EPS for the quarter, beating the consensus estimate of $0.89 by $0.06. The company had revenue of $323.82 million for the quarter, compared to analyst estimates of $320.07 million. United Bankshares had a net margin of 27.97% and a return on equity of 9.39%. During the same period in the prior year, the company earned $0.85 earnings per share. As a group, equities research analysts anticipate that United Bankshares, Inc. will post 3.71 EPS for the current year.

United Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be paid a $0.38 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.2%. United Bankshares’s dividend payout ratio is presently 41.42%.

United Bankshares Profile

United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company’s core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.

United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.