United Bankshares, Inc. (NASDAQ:UBSI) Holdings Trimmed by Bank of Nova Scotia

Bank of Nova Scotia lowered its position in shares of United Bankshares, Inc. (NASDAQ:UBSI – Get Rating) by 53.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,902 shares of the financial services provider’s stock after selling 13,526 shares during the quarter. Bank of Nova Scotia’s holdings in United Bankshares were worth $482,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Concord Wealth Partners bought a new position in United Bankshares during the fourth quarter valued at about $60,000. Covestor Ltd increased its stake in United Bankshares by 74.7% in the 1st quarter. Covestor Ltd now owns 2,420 shares of the financial services provider’s stock worth $84,000 after purchasing an additional 1,035 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in United Bankshares by 40.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,808 shares of the financial services provider’s stock worth $171,000 after purchasing an additional 1,391 shares in the last quarter. HNP Capital LLC purchased a new position in United Bankshares in the 4th quarter worth about $207,000. Finally, Vectors Research Management LLC purchased a new position in United Bankshares in the 4th quarter worth about $207,000. Institutional investors own 68.73% of the company’s stock.

United Bankshares Stock Down 1.8 %

Shares of United Bankshares stock opened at $29.86 on Thursday. The firm has a market cap of $4.03 billion, a price-to-earnings ratio of 10.16 and a beta of 1.02. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.99 and a quick ratio of 0.99. United Bankshares, Inc. has a 52-week low of $27.68 and a 52-week high of $44.15. The stock has a 50-day simple moving average of $32.91 and a 200-day simple moving average of $37.94.

United Bankshares (NASDAQ:UBSI – Get Rating) last issued its quarterly earnings data on Wednesday, April 26th. The financial services provider reported $0.74 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.74. United Bankshares had a return on equity of 8.78% and a net margin of 31.24%. The business had revenue of $362.05 million for the quarter, compared to the consensus estimate of $272.72 million. During the same period last year, the business earned $0.60 EPS. On average, equities research analysts expect that United Bankshares, Inc. will post 2.71 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Friday, June 9th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date is Thursday, June 8th. United Bankshares’s payout ratio is 48.98%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Raymond James dropped their price target on United Bankshares from $44.00 to $42.00 and set an “outperform” rating on the stock in a research note on Thursday, April 6th. StockNews.com began coverage on United Bankshares in a research report on Thursday, May 18th. They set a “sell” rating for the company. 3M restated a “maintains” rating on shares of United Bankshares in a research report on Friday, April 28th. Keefe, Bruyette & Woods decreased their price objective on United Bankshares from $38.00 to $36.00 and set a “market perform” rating for the company in a research report on Thursday, April 6th. Finally, Stephens began coverage on United Bankshares in a research report on Tuesday, April 4th. They set an “equal weight” rating and a $32.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, United Bankshares presently has an average rating of “Hold” and a consensus target price of $39.00.

United Bankshares Profile

(Get Rating)

United Bankshares, Inc is a bank holding company, which engages in the provision of commercial and retail banking services and products. It operates through the following segments: Community Banking, Mortgage Banking, and Other. The Community Banking segment consists of both commercial and consumer lending and provides customers with such products as commercial loans, real estate loans, business financing, and consumer loans.