United Bankshares, Inc. (NASDAQ:UBSI) Shares Sold by Wesbanco Bank Inc.

Wesbanco Bank Inc. lessened its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 1.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 121,948 shares of the financial services provider’s stock after selling 1,450 shares during the quarter. Wesbanco Bank Inc. owned about 0.09% of United Bankshares worth $3,956,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Victory Capital Management Inc. lifted its position in shares of United Bankshares by 2,745.7% during the 4th quarter. Victory Capital Management Inc. now owns 2,835,545 shares of the financial services provider’s stock worth $106,475,000 after purchasing an additional 2,735,901 shares during the last quarter. Norges Bank purchased a new stake in United Bankshares during the fourth quarter worth approximately $45,308,000. Dimensional Fund Advisors LP increased its holdings in shares of United Bankshares by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,291,001 shares of the financial services provider’s stock valued at $273,782,000 after purchasing an additional 172,997 shares during the period. Vaughan Nelson Investment Management L.P. grew its position in United Bankshares by 14.8% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,311,291 shares of the financial services provider’s stock valued at $46,931,000 after buying an additional 169,200 shares during the last quarter. Finally, UBS Group AG increased its stake in shares of United Bankshares by 77.5% during the fourth quarter. UBS Group AG now owns 316,889 shares of the financial services provider’s stock worth $11,899,000 after acquiring an additional 138,317 shares during the period. Hedge funds and other institutional investors own 70.80% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on UBSI. StockNews.com raised United Bankshares from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods boosted their target price on shares of United Bankshares from $38.00 to $40.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Stephens increased their price target on shares of United Bankshares from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Finally, DA Davidson boosted their price objective on shares of United Bankshares from $36.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $40.25.

United Bankshares Stock Performance

Shares of UBSI opened at $36.22 on Friday. United Bankshares, Inc. has a 12-month low of $25.35 and a 12-month high of $39.93. The stock has a market cap of $4.90 billion, a P/E ratio of 13.82 and a beta of 0.99. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average of $33.93 and a two-hundred day moving average of $34.22.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.07. The business had revenue of $255.94 million for the quarter, compared to the consensus estimate of $255.54 million. United Bankshares had a net margin of 22.44% and a return on equity of 7.72%. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.68 earnings per share. As a group, research analysts predict that United Bankshares, Inc. will post 2.69 EPS for the current fiscal year.

United Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend was Friday, June 14th. United Bankshares’s payout ratio is 56.49%.

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.