Sargent Investment Group LLC Sells 1,000 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Sargent Investment Group LLC cut its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 11.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of UBSI. Dimensional Fund Advisors LP grew its holdings in United Bankshares by 1.8% during the second quarter. Dimensional Fund Advisors LP now owns 7,907,665 shares of the financial services provider’s stock valued at $256,521,000 after purchasing an additional 142,545 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of United Bankshares by 3.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 256,203 shares of the financial services provider’s stock worth $8,311,000 after buying an additional 8,174 shares during the period. Oppenheimer Asset Management Inc. grew its stake in United Bankshares by 27.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 106,217 shares of the financial services provider’s stock valued at $3,446,000 after buying an additional 22,565 shares during the last quarter. American Century Companies Inc. grew its stake in United Bankshares by 3.6% in the 2nd quarter. American Century Companies Inc. now owns 73,340 shares of the financial services provider’s stock valued at $2,379,000 after buying an additional 2,577 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in United Bankshares by 27.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 11,901 shares of the financial services provider’s stock worth $386,000 after acquiring an additional 2,565 shares during the period. 70.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

UBSI has been the subject of a number of recent analyst reports. DA Davidson upped their price target on shares of United Bankshares from $36.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Stephens raised 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 lifted their price target 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, StockNews.com upgraded shares of United Bankshares from a “sell” rating to a “hold” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $40.25.

United Bankshares Stock Up 0.3 %

NASDAQ UBSI opened at $37.53 on Wednesday. United Bankshares, Inc. has a twelve month low of $25.35 and a twelve month high of $39.93. The stock has a market cap of $5.07 billion, a PE ratio of 14.32 and a beta of 0.99. The firm has a 50-day simple moving average of $36.83 and a 200 day simple moving average of $34.53. 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 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.07. The company had revenue of $255.94 million during the quarter, compared to the consensus estimate of $255.54 million. United Bankshares had a return on equity of 7.72% and a net margin of 22.44%. The company’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the company earned $0.68 EPS. On average, research analysts forecast that United Bankshares, Inc. will post 2.7 EPS for the current year.

United Bankshares Announces Dividend

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