Mutual of America Capital Management LLC Sells 2,999 Shares of United Bankshares, Inc. $UBSI

Mutual of America Capital Management LLC lessened its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 4.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 70,479 shares of the financial services provider’s stock after selling 2,999 shares during the period. Mutual of America Capital Management LLC’s holdings in United Bankshares were worth $2,568,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Ameritas Advisory Services LLC bought a new stake in shares of United Bankshares during the second quarter worth $25,000. Signaturefd LLC boosted its holdings in United Bankshares by 2,281.0% in the second quarter. Signaturefd LLC now owns 1,000 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 958 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in United Bankshares by 144.2% in the first quarter. Meeder Asset Management Inc. now owns 1,155 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 682 shares during the last quarter. CWM LLC boosted its holdings in United Bankshares by 226.9% in the first quarter. CWM LLC now owns 1,651 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 1,146 shares during the last quarter. Finally, Hughes Financial Services LLC bought a new position in United Bankshares in the first quarter valued at about $60,000. Institutional investors own 70.80% of the company’s stock.

Wall Street Analysts Forecast Growth

UBSI has been the topic of several recent research reports. Piper Sandler set a $42.50 price target on United Bankshares and gave the company an “overweight” rating in a report on Thursday. Zacks Research upgraded United Bankshares to a “hold” rating in a report on Friday, August 8th. Finally, Weiss Ratings cut United Bankshares from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, United Bankshares presently has an average rating of “Hold” and an average target price of $41.83.

United Bankshares Trading Up 3.6%

NASDAQ UBSI opened at $36.43 on Friday. The firm has a market cap of $5.16 billion, a P/E ratio of 11.94 and a beta of 0.76. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.98. The stock’s 50-day moving average is $37.19 and its 200-day moving average is $36.31. United Bankshares, Inc. has a one year low of $30.50 and a one year high of $44.43.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.10. The company had revenue of $324.10 million for the quarter, compared to analyst estimates of $307.78 million. United Bankshares had a return on equity of 8.23% and a net margin of 24.37%.During the same quarter last year, the firm posted $0.70 earnings per share. Sell-side analysts anticipate that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.1%. United Bankshares’s dividend payout ratio (DPR) is currently 48.52%.

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.