Harbor Investment Advisory LLC decreased its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI – Get Rating) by 33.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 2,025 shares of the financial services provider's stock after selling 1,030 shares during the period. Harbor Investment Advisory LLC's holdings in United Bankshares were worth $71,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in UBSI. State Street Corp increased its position in United Bankshares by 24.5% during the 1st quarter. State Street Corp now owns 14,156,275 shares of the financial services provider's stock valued at $498,550,000 after purchasing an additional 2,782,694 shares during the period. Vanguard Group Inc. increased its position in United Bankshares by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 13,508,712 shares of the financial services provider's stock valued at $471,184,000 after purchasing an additional 624,816 shares during the period. BlackRock Inc. grew its position in shares of United Bankshares by 2.7% in the 1st quarter. BlackRock Inc. now owns 18,874,678 shares of the financial services provider's stock worth $658,348,000 after buying an additional 495,652 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of United Bankshares by 101.0% in the 4th quarter. Alliancebernstein L.P. now owns 590,950 shares of the financial services provider's stock worth $21,440,000 after buying an additional 296,875 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of United Bankshares by 10.4% in the 4th quarter. Geode Capital Management LLC now owns 2,434,802 shares of the financial services provider's stock worth $88,334,000 after buying an additional 229,273 shares during the last quarter. Hedge funds and other institutional investors own 69.61% of the company's stock.
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NASDAQ:UBSI opened at $35.78 on Wednesday. The company has a market cap of $4.82 billion, a PE ratio of 13.87 and a beta of 1.10. United Bankshares, Inc. has a twelve month low of $33.11 and a twelve month high of $40.85. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.18. The company's 50 day moving average is $37.78 and its two-hundred day moving average is $36.10.
United Bankshares (NASDAQ:UBSI – Get Rating) last released its earnings results on Thursday, July 28th. The financial services provider reported $0.71 earnings per share for the quarter. The company had revenue of $258.51 million for the quarter, compared to the consensus estimate of $249.02 million. United Bankshares had a net margin of 33.26% and a return on equity of 7.53%. During the same quarter in the previous year, the firm earned $0.73 EPS. Analysts anticipate that United Bankshares, Inc. will post 2.73 EPS for the current year.United Bankshares Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 9th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 4.02%. The ex-dividend date is Thursday, September 8th. United Bankshares's dividend payout ratio is presently 55.81%.
Analyst Ratings Changes
A number of research analysts have recently issued reports on UBSI shares. DA Davidson reaffirmed a "neutral" rating on shares of United Bankshares in a research report on Wednesday, July 27th. StockNews.com raised shares of United Bankshares from a "sell" rating to a "hold" rating in a research report on Wednesday, September 21st. Raymond James cut their price objective on shares of United Bankshares from $40.00 to $39.00 and set an "outperform" rating on the stock in a research report on Thursday, July 7th. Finally, Janney Montgomery Scott started coverage on shares of United Bankshares in a research report on Tuesday, September 6th. They issued a "buy" rating and a $40.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, United Bankshares currently has an average rating of "Hold" and a consensus target price of $39.00.
About United Bankshares
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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.
Further Reading
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