United Bankshares, Inc. (NASDAQ:UBSI) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its position in United Bankshares, Inc. (NASDAQ:UBSI) by 1.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 641,606 shares of the financial services provider’s stock after selling 11,367 shares during the period. New York State Common Retirement Fund owned about 0.47% of United Bankshares worth $23,804,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in shares of United Bankshares by 1.8% in the 2nd 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 in the last quarter. Earnest Partners LLC grew its holdings in United Bankshares by 1.8% in the second quarter. Earnest Partners LLC now owns 4,253,797 shares of the financial services provider’s stock valued at $137,993,000 after purchasing an additional 74,638 shares during the period. Victory Capital Management Inc. increased its position in shares of United Bankshares by 1.4% in the second quarter. Victory Capital Management Inc. now owns 3,982,478 shares of the financial services provider’s stock valued at $129,192,000 after buying an additional 55,633 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of United Bankshares by 110.4% during the 2nd quarter. ProShare Advisors LLC now owns 2,206,434 shares of the financial services provider’s stock worth $71,577,000 after buying an additional 1,157,579 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its position in shares of United Bankshares by 1.8% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,334,931 shares of the financial services provider’s stock valued at $43,305,000 after buying an additional 23,640 shares in the last quarter. Institutional investors and hedge funds own 70.80% of the company’s stock.

Analyst Upgrades and Downgrades

UBSI has been the subject of several recent analyst reports. DA Davidson upped their price objective on shares of United Bankshares from $36.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods raised their price target on shares of United Bankshares from $38.00 to $40.00 and gave the company a “market perform” rating in a research note on Friday, July 26th. Stephens boosted their price objective on United Bankshares from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Finally, StockNews.com downgraded United Bankshares from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, United Bankshares has a consensus rating of “Hold” and a consensus target price of $40.25.

United Bankshares Stock Performance

NASDAQ:UBSI opened at $37.61 on Monday. The company has a market cap of $5.09 billion, a P/E ratio of 14.25 and a beta of 0.98. United Bankshares, Inc. has a twelve month low of $28.77 and a twelve month high of $39.93. The company’s 50-day moving average price is $37.29 and its 200-day moving average price is $35.22. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.11.

United Bankshares (NASDAQ:UBSI) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.03. The business had revenue of $414.67 million for the quarter, compared to analyst estimates of $260.30 million. United Bankshares had a net margin of 22.05% and a return on equity of 7.58%. During the same period last year, the company posted $0.71 EPS. On average, sell-side analysts forecast that United Bankshares, Inc. will post 2.7 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date was Friday, September 13th. United Bankshares’s dividend payout ratio (DPR) is currently 56.06%.

About United Bankshares

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.