United Bankshares, Inc. $UBSI Shares Sold by Huntington National Bank

Huntington National Bank lowered its position in United Bankshares, Inc. (NASDAQ:UBSI) by 82.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,249 shares of the financial services provider’s stock after selling 19,309 shares during the period. Huntington National Bank’s holdings in United Bankshares were worth $163,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Geode Capital Management LLC raised its position in shares of United Bankshares by 5.1% in the fourth 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 during the period. Smithfield Trust Co acquired a new position in shares of United Bankshares in the fourth quarter worth about $135,000. EverSource Wealth Advisors LLC raised its position in shares of United Bankshares by 24.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,492 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 292 shares during the period. Axxcess Wealth Management LLC raised its position in shares of United Bankshares by 0.8% in the fourth quarter. Axxcess Wealth Management LLC now owns 83,567 shares of the financial services provider’s stock worth $3,209,000 after acquiring an additional 648 shares during the period. Finally, Commonwealth Financial Services LLC increased its stake in shares of United Bankshares by 6.1% during the fourth quarter. Commonwealth Financial Services LLC now owns 39,529 shares of the financial services provider’s stock worth $1,518,000 after purchasing an additional 2,281 shares in the last quarter. Institutional investors and hedge funds own 70.80% of the company’s stock.

Analyst Upgrades and Downgrades

UBSI has been the subject of a number of research reports. Raymond James Financial reissued an “outperform” rating and set a $49.00 target price on shares of United Bankshares in a research note on Monday, April 27th. Zacks Research cut shares of United Bankshares from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Finally, Weiss Ratings raised shares of United Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 13th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $45.75.

United Bankshares Price Performance

Shares of NASDAQ UBSI opened at $43.41 on Monday. United Bankshares, Inc. has a 12-month low of $34.10 and a 12-month high of $45.92. The stock has a market cap of $5.98 billion, a PE ratio of 12.16 and a beta of 0.71. 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 company has a 50-day moving average of $42.72 and a 200 day moving average of $41.14.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.04. United Bankshares had a net margin of 27.45% and a return on equity of 9.26%. The company had revenue of $316.58 million during the quarter, compared to analysts’ expectations of $315.15 million. During the same quarter in the prior year, the company earned $0.59 EPS. As a group, sell-side analysts predict that United Bankshares, Inc. will post 3.64 EPS for the current fiscal year.

United Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Friday, June 12th. United Bankshares’s dividend payout ratio is currently 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.