First Trust Advisors LP decreased its holdings in United Bankshares, Inc. (NASDAQ:UBSI – Get Rating) by 7.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 335,191 shares of the financial services provider's stock after selling 28,828 shares during the quarter. First Trust Advisors LP owned 0.25% of United Bankshares worth $11,983,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Texas Permanent School Fund grew its position in United Bankshares by 1.5% in the second quarter. Texas Permanent School Fund now owns 98,171 shares of the financial services provider's stock worth $3,443,000 after buying an additional 1,475 shares during the last quarter. JPMorgan Chase & Co. grew its position in United Bankshares by 12.6% in the second quarter. JPMorgan Chase & Co. now owns 314,908 shares of the financial services provider's stock worth $11,044,000 after buying an additional 35,126 shares during the last quarter. Ontario Teachers Pension Plan Board acquired a new position in United Bankshares in the second quarter worth approximately $390,000. Tower Research Capital LLC TRC grew its position in United Bankshares by 80.4% in the third quarter. Tower Research Capital LLC TRC now owns 17,981 shares of the financial services provider's stock worth $643,000 after buying an additional 8,016 shares during the last quarter. Finally, Eaton Vance Management grew its position in United Bankshares by 2.3% in the third quarter. Eaton Vance Management now owns 227,344 shares of the financial services provider's stock worth $8,128,000 after buying an additional 5,204 shares during the last quarter. Institutional investors and hedge funds own 68.73% of the company's stock.
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Wall Street Analysts Forecast Growth
A number of research firms recently commented on UBSI. Piper Sandler reaffirmed a "neutral" rating and issued a $45.00 price objective on shares of United Bankshares in a research note on Monday, December 5th. StockNews.com lowered shares of United Bankshares from a "hold" rating to a "sell" rating in a research note on Wednesday, January 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $41.33.
United Bankshares Trading Down 1.5 %
United Bankshares stock opened at $36.18 on Friday. The company has a 50 day moving average price of $40.29 and a 200 day moving average price of $39.73. United Bankshares, Inc. has a 52 week low of $33.11 and a 52 week high of $44.15. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.95 and a current ratio of 0.96. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of 12.88 and a beta of 1.05.
United Bankshares (NASDAQ:UBSI – Get Rating) last issued its earnings results on Thursday, January 26th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.78 by ($0.04). The company had revenue of $338.62 million for the quarter, compared to analyst estimates of $275.77 million. United Bankshares had a net margin of 32.86% and a return on equity of 8.42%. During the same period last year, the business earned $0.56 EPS. Research analysts forecast that United Bankshares, Inc. will post 2.95 EPS for the current year.
United Bankshares Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Friday, March 10th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date is Thursday, March 9th. United Bankshares's dividend payout ratio (DPR) is currently 51.25%.
About United Bankshares
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United Bankshares, Inc is a bank holding company, which engages in the provision of commercial and retail banking services and products. It operates through the following segments: Community Banking, Mortgage Banking, and Other. The Community Banking segment consists of both commercial and consumer lending and provides customers with such products as commercial loans, real estate loans, business financing, and consumer loans.
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