BlackRock Inc. reduced its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 0.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,039,592 shares of the financial services provider’s stock after selling 23,076 shares during the quarter. BlackRock Inc. owned about 13.52% of United Bankshares worth $510,340,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. OppenheimerFunds Inc. increased its stake in United Bankshares by 22.8% during the second quarter. OppenheimerFunds Inc. now owns 7,317 shares of the financial services provider’s stock worth $266,000 after acquiring an additional 1,358 shares during the last quarter. Meadow Creek Investment Management LLC grew its stake in shares of United Bankshares by 11.3% during the second quarter. Meadow Creek Investment Management LLC now owns 14,112 shares of the financial services provider’s stock valued at $514,000 after buying an additional 1,428 shares during the last quarter. Security National Trust Co. grew its stake in shares of United Bankshares by 7.2% during the third quarter. Security National Trust Co. now owns 23,801 shares of the financial services provider’s stock valued at $865,000 after buying an additional 1,600 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of United Bankshares by 4.2% during the second quarter. Oregon Public Employees Retirement Fund now owns 41,005 shares of the financial services provider’s stock valued at $1,493,000 after buying an additional 1,666 shares during the last quarter. Finally, Glen Harbor Capital Management LLC grew its stake in shares of United Bankshares by 11.3% during the second quarter. Glen Harbor Capital Management LLC now owns 17,136 shares of the financial services provider’s stock valued at $624,000 after buying an additional 1,734 shares during the last quarter. 70.92% of the stock is currently owned by institutional investors.
UBSI opened at $33.92 on Friday. The company has a market cap of $3.52 billion, a PE ratio of 17.85, a price-to-earnings-growth ratio of 1.74 and a beta of 1.10. United Bankshares, Inc. has a one year low of $31.01 and a one year high of $39.95. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.47.
United Bankshares (NASDAQ:UBSI) last released its earnings results on Thursday, October 25th. The financial services provider reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.01). The business had revenue of $180.46 million for the quarter, compared to the consensus estimate of $189.56 million. United Bankshares had a net margin of 25.09% and a return on equity of 7.64%. As a group, equities research analysts predict that United Bankshares, Inc. will post 2.45 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Friday, December 14th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.01%. United Bankshares’s payout ratio is 71.58%.
A number of research analysts have recently commented on the company. BidaskClub cut United Bankshares from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 4th. Zacks Investment Research cut United Bankshares from a “hold” rating to a “sell” rating in a research note on Thursday, November 29th. ValuEngine raised United Bankshares from a “sell” rating to a “hold” rating in a research note on Friday, November 16th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of United Bankshares in a research note on Friday, October 26th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. United Bankshares has an average rating of “Hold” and an average target price of $39.33.
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United Bankshares Company Profile
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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