United Bankshares, Inc. $UBSI Shares Sold by Meeder Asset Management Inc.

Meeder Asset Management Inc. lessened its position in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 33.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,317 shares of the financial services provider’s stock after selling 15,342 shares during the period. Meeder Asset Management Inc.’s holdings in United Bankshares were worth $1,256,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of UBSI. Dimensional Fund Advisors LP lifted its holdings in United Bankshares by 0.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,661,331 shares of the financial services provider’s stock worth $317,327,000 after buying an additional 56,808 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of United Bankshares by 5.1% during the 4th quarter. Geode Capital Management LLC now owns 3,802,338 shares of the financial services provider’s stock worth $146,030,000 after acquiring an additional 183,950 shares in the last quarter. Norges Bank purchased a new position in shares of United Bankshares in the 4th quarter valued at about $68,366,000. AQR Capital Management LLC increased its holdings in shares of United Bankshares by 74.7% in the 4th quarter. AQR Capital Management LLC now owns 1,625,205 shares of the financial services provider’s stock valued at $62,408,000 after acquiring an additional 694,953 shares during the last quarter. Finally, Morgan Stanley raised its position in shares of United Bankshares by 10.9% during the 4th quarter. Morgan Stanley now owns 1,403,141 shares of the financial services provider’s stock worth $53,881,000 after acquiring an additional 137,396 shares in the last quarter. 70.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Zacks Research downgraded United Bankshares from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Raymond James Financial upped their target price on shares of United Bankshares from $49.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Hovde Group initiated coverage on shares of United Bankshares in a research report on Wednesday, June 24th. They issued a “market perform” rating and a $49.00 target price on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of United Bankshares in a research note on Monday, July 6th. Finally, Wall Street Zen cut shares of United Bankshares from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, United Bankshares has a consensus rating of “Hold” and a consensus price target of $46.60.

United Bankshares Stock Performance

NASDAQ UBSI opened at $47.18 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average is $44.69 and its two-hundred day moving average is $42.99. The stock has a market capitalization of $6.50 billion, a price-to-earnings ratio of 13.22 and a beta of 0.71. United Bankshares, Inc. has a 12-month low of $34.10 and a 12-month high of $48.22.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. The business had revenue of $316.58 million for the quarter, compared to analysts’ expectations of $315.15 million. United Bankshares had a net margin of 27.45% and a return on equity of 9.26%. During the same period in the prior year, the company posted $0.59 EPS. Research analysts expect that United Bankshares, Inc. will post 3.64 EPS for the current year.

United Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $1.52 annualized dividend and a yield of 3.2%. United Bankshares’s dividend payout ratio is 42.58%.

About United Bankshares

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.