American Century Companies Inc. lowered its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI – Get Rating) by 12.2% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 90,008 shares of the financial services provider's stock after selling 12,467 shares during the period. American Century Companies Inc. owned approximately 0.07% of United Bankshares worth $3,139,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. New York State Teachers Retirement System boosted its stake in United Bankshares by 0.4% during the 1st quarter. New York State Teachers Retirement System now owns 133,807 shares of the financial services provider's stock valued at $4,667,000 after purchasing an additional 500 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of United Bankshares by 7.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 7,711 shares of the financial services provider's stock worth $269,000 after buying an additional 506 shares during the last quarter. Connable Office Inc. boosted its stake in shares of United Bankshares by 4.1% in the 4th quarter. Connable Office Inc. now owns 12,846 shares of the financial services provider's stock worth $466,000 after buying an additional 507 shares during the last quarter. Synovus Financial Corp boosted its stake in shares of United Bankshares by 2.9% in the 4th quarter. Synovus Financial Corp now owns 19,911 shares of the financial services provider's stock worth $726,000 after buying an additional 552 shares during the last quarter. Finally, Securian Asset Management Inc. boosted its stake in shares of United Bankshares by 5.2% in the 4th quarter. Securian Asset Management Inc. now owns 12,187 shares of the financial services provider's stock worth $442,000 after buying an additional 600 shares during the last quarter. Institutional investors and hedge funds own 69.61% of the company's stock.
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Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on UBSI. StockNews.com downgraded United Bankshares from a "hold" rating to a "sell" rating in a research note on Thursday, September 1st. DA Davidson reaffirmed a "neutral" rating on shares of United Bankshares in a report on Wednesday, July 27th. Raymond James lowered their price target on shares of United Bankshares from $40.00 to $39.00 and set an "outperform" rating on the stock in a report on Thursday, July 7th. Finally, Janney Montgomery Scott began coverage on shares of United Bankshares in a report on Tuesday. They issued a "buy" rating and a $40.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $39.00.
United Bankshares Stock Down 2.5 %
Shares of NASDAQ UBSI opened at $35.52 on Wednesday. United Bankshares, Inc. has a 52 week low of $31.74 and a 52 week high of $40.85. The business has a 50-day simple moving average of $37.35 and a two-hundred day simple moving average of $35.99. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.18. The company has a market cap of $4.78 billion, a P/E ratio of 14.12 and a beta of 1.10.
United Bankshares (NASDAQ:UBSI – Get Rating) last issued its earnings results on Thursday, July 28th. The financial services provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.63 by $0.08. United Bankshares had a return on equity of 7.53% and a net margin of 33.26%. During the same period in the prior year, the company posted $0.73 earnings per share. Research 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 will be paid on Monday, October 3rd. Stockholders of record on Friday, September 9th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.05%. United Bankshares's dividend payout ratio (DPR) is presently 55.81%.
United Bankshares Profile
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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, NOW accounts, and interest-bearing checking accounts.
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