NewEdge Advisors LLC Sells 11,080 Shares of United Bankshares, Inc. $UBSI

NewEdge Advisors LLC trimmed its position in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 23.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 35,994 shares of the financial services provider’s stock after selling 11,080 shares during the quarter. NewEdge Advisors LLC’s holdings in United Bankshares were worth $1,491,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Bank of America Corp DE grew its position in shares of United Bankshares by 20.5% in the 1st quarter. Bank of America Corp DE now owns 1,631,894 shares of the financial services provider’s stock worth $67,593,000 after buying an additional 277,836 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in United Bankshares during the first quarter valued at approximately $619,000. Arkadios Wealth Advisors boosted its stake in United Bankshares by 10.8% in the first quarter. Arkadios Wealth Advisors now owns 81,499 shares of the financial services provider’s stock valued at $3,376,000 after acquiring an additional 7,940 shares in the last quarter. Amundi boosted its stake in United Bankshares by 204.8% in the first quarter. Amundi now owns 49,874 shares of the financial services provider’s stock valued at $2,066,000 after acquiring an additional 33,511 shares in the last quarter. Finally, California State Teachers Retirement System grew its holdings in United Bankshares by 16.9% in the first quarter. California State Teachers Retirement System now owns 155,643 shares of the financial services provider’s stock worth $6,447,000 after purchasing an additional 22,458 shares during the last quarter. 70.80% of the stock is currently owned by institutional investors.

United Bankshares Stock Up 0.2%

NASDAQ:UBSI opened at $48.45 on Friday. The company has a market cap of $6.68 billion, a PE ratio of 13.20 and a beta of 0.71. United Bankshares, Inc. has a twelve month low of $34.10 and a twelve month high of $49.27. 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’s 50 day moving average is $45.67 and its two-hundred day moving average is $43.51.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.06. United Bankshares had a net margin of 27.97% and a return on equity of 9.39%. The business had revenue of $323.82 million during the quarter, compared to analysts’ expectations of $320.07 million. During the same quarter last year, the company posted $0.85 earnings per share. Analysts anticipate that United Bankshares, Inc. will post 3.71 EPS for the current year.

United Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, June 12th were paid a $0.38 dividend. The ex-dividend date was Friday, June 12th. This represents a $1.52 dividend on an annualized basis and a yield of 3.1%. United Bankshares’s dividend payout ratio (DPR) is 41.42%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Raymond James Financial upped their price target on United Bankshares from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Hovde Group raised their price objective on United Bankshares from $49.00 to $50.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Weiss Ratings restated a “buy (b)” rating on shares of United Bankshares in a research note on Monday, July 6th. Keefe, Bruyette & Woods upped their target price on United Bankshares from $46.00 to $48.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Finally, Wall Street Zen upgraded United Bankshares from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $47.80.

United Bankshares Profile

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.