United Bankshares, Inc. (NASDAQ:UBSI) Position Trimmed by Sargent Investment Group LLC

Sargent Investment Group LLC lowered its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 11.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,645 shares of the financial services provider’s stock after selling 1,000 shares during the period. Sargent Investment Group LLC’s holdings in United Bankshares were worth $248,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. raised its position in shares of United Bankshares by 5.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 6,587 shares of the financial services provider’s stock worth $214,000 after purchasing an additional 350 shares during the period. State of Michigan Retirement System raised its holdings in United Bankshares by 1.9% during the 1st quarter. State of Michigan Retirement System now owns 33,013 shares of the financial services provider’s stock worth $1,182,000 after buying an additional 600 shares during the period. Anchor Capital Advisors LLC lifted its stake in United Bankshares by 1.3% during the first quarter. Anchor Capital Advisors LLC now owns 51,205 shares of the financial services provider’s stock valued at $1,833,000 after buying an additional 645 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of United Bankshares by 1.9% in the second quarter. Arizona State Retirement System now owns 37,781 shares of the financial services provider’s stock worth $1,226,000 after buying an additional 698 shares during the period. Finally, New York State Teachers Retirement System increased its position in shares of United Bankshares by 0.6% in the first quarter. New York State Teachers Retirement System now owns 133,207 shares of the financial services provider’s stock worth $4,767,000 after acquiring an additional 800 shares in the last quarter. Institutional investors and hedge funds own 70.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on UBSI. StockNews.com upgraded shares of United Bankshares from a “sell” rating to a “hold” rating in a research report on Wednesday. Stephens increased their target price on United Bankshares from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods raised their target price on United Bankshares from $38.00 to $40.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Finally, DA Davidson upped their price target on United Bankshares from $36.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, United Bankshares currently has an average rating of “Hold” and an average price target of $40.25.

United Bankshares Stock Up 0.3 %

United Bankshares stock opened at $37.53 on Wednesday. The firm’s 50 day moving average price is $36.83 and its two-hundred day moving average price is $34.53. The firm has a market cap of $5.07 billion, a PE ratio of 14.32 and a beta of 0.99. United Bankshares, Inc. has a twelve month low of $25.35 and a twelve month high of $39.93. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.99 and a current ratio of 1.00.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.07. United Bankshares had a return on equity of 7.72% and a net margin of 22.44%. The business had revenue of $255.94 million during the quarter, compared to analyst estimates of $255.54 million. During the same period last year, the company earned $0.68 earnings per share. United Bankshares’s quarterly revenue was down 2.6% compared to the same quarter last year. On average, research analysts predict that United Bankshares, Inc. will post 2.7 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.48 annualized dividend and a dividend yield of 3.94%. United Bankshares’s dividend payout ratio is 56.49%.

United Bankshares Profile

United Bankshares, Inc, through its subsidiaries, 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.