Barclays PLC Sells 17,791 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Barclays PLC reduced its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 21.9% during the third quarter, according to its most recent filing with the SEC. The fund owned 63,530 shares of the financial services provider’s stock after selling 17,791 shares during the quarter. Barclays PLC owned 0.06% of United Bankshares worth $2,406,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its stake in United Bankshares by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 1,400,515 shares of the financial services provider’s stock valued at $51,944,000 after acquiring an additional 9,420 shares during the last quarter. Silvercrest Asset Management Group LLC increased its position in United Bankshares by 3.3% in the second quarter. Silvercrest Asset Management Group LLC now owns 1,150,550 shares of the financial services provider’s stock worth $42,674,000 after buying an additional 36,975 shares during the last quarter. Anchor Capital Advisors LLC increased its position in United Bankshares by 2.7% in the third quarter. Anchor Capital Advisors LLC now owns 1,066,450 shares of the financial services provider’s stock worth $40,386,000 after buying an additional 28,507 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of United Bankshares by 46.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 956,448 shares of the financial services provider’s stock valued at $35,197,000 after buying an additional 303,402 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of United Bankshares by 1.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 765,429 shares of the financial services provider’s stock valued at $28,390,000 after buying an additional 7,682 shares during the last quarter. Institutional investors own 69.07% of the company’s stock.

NASDAQ:UBSI opened at $37.32 on Wednesday. The company has a market cap of $3.85 billion, a P/E ratio of 15.23 and a beta of 1.19. The stock’s fifty day moving average price is $39.01 and its two-hundred day moving average price is $37.50. United Bankshares, Inc. has a 1 year low of $29.13 and a 1 year high of $40.70. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.04 and a quick ratio of 1.01.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.02. United Bankshares had a return on equity of 7.89% and a net margin of 28.68%. The company had revenue of $185.06 million during the quarter, compared to analysts’ expectations of $181.44 million. During the same period in the previous year, the business earned $0.62 earnings per share. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, analysts expect that United Bankshares, Inc. will post 2.56 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a dividend of $0.35 per share. This is a boost from United Bankshares’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $1.40 dividend on an annualized basis and a yield of 3.75%. United Bankshares’s dividend payout ratio is 55.51%.

Several brokerages recently weighed in on UBSI. Zacks Investment Research raised United Bankshares from a “sell” rating to a “hold” rating in a report on Saturday, October 26th. ValuEngine lowered shares of United Bankshares from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. BidaskClub downgraded shares of United Bankshares from a “buy” rating to a “hold” rating in a research note on Thursday, November 21st. Finally, DA Davidson lowered shares of United Bankshares to a “hold” rating and set a $44.65 price target on the stock. in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $42.83.

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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Institutional Ownership by Quarter for United Bankshares (NASDAQ:UBSI)

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