Earnest Partners LLC lowered its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 2.4% during the second quarter, Holdings Channel reports. The institutional investor owned 2,129,601 shares of the financial services provider’s stock after selling 51,297 shares during the quarter. Earnest Partners LLC’s holdings in United Bankshares were worth $78,987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also bought and sold shares of the company. Krane Funds Advisors LLC acquired a new stake in United Bankshares during the second quarter worth $59,000. Burt Wealth Advisors boosted its stake in United Bankshares by 290.4% during the second quarter. Burt Wealth Advisors now owns 1,952 shares of the financial services provider’s stock worth $72,000 after buying an additional 1,452 shares in the last quarter. Captrust Financial Advisors boosted its stake in United Bankshares by 25.3% during the second quarter. Captrust Financial Advisors now owns 3,922 shares of the financial services provider’s stock worth $147,000 after buying an additional 792 shares in the last quarter. FMR LLC boosted its stake in United Bankshares by 213.3% during the first quarter. FMR LLC now owns 5,382 shares of the financial services provider’s stock worth $195,000 after buying an additional 3,664 shares in the last quarter. Finally, Piedmont Investment Advisors Inc. acquired a new stake in United Bankshares during the first quarter worth $207,000. Hedge funds and other institutional investors own 70.03% of the company’s stock.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Saturday, July 27th. Boenning Scattergood reiterated a “neutral” rating on shares of United Bankshares in a research note on Thursday, June 20th. Finally, BidaskClub raised United Bankshares from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th.
In related news, Director Mary K. Weddle acquired 2,300 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was bought at an average cost of $35.19 per share, with a total value of $80,937.00. Following the completion of the acquisition, the director now owns 11,776 shares in the company, valued at $414,397.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.62% of the stock is currently owned by company insiders.
Shares of NASDAQ UBSI opened at $39.91 on Friday. The stock has a market cap of $3.93 billion, a PE ratio of 16.29, a PEG ratio of 1.91 and a beta of 1.24. The business has a fifty day moving average of $36.62 and a two-hundred day moving average of $37.16. United Bankshares, Inc. has a 52-week low of $29.13 and a 52-week high of $39.89. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.01 and a current ratio of 1.04.
United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.02. The company had revenue of $190.35 million during the quarter, compared to analysts’ expectations of $183.29 million. United Bankshares had a return on equity of 7.90% and a net margin of 29.01%. During the same period last year, the business earned $0.63 earnings per share. Analysts predict that United Bankshares, Inc. will post 2.53 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.41%. United Bankshares’s payout ratio is presently 55.51%.
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.
Further Reading: Limitations of the P/E Growth ratio
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