State of Alaska Department of Revenue Sells 1,460 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

State of Alaska Department of Revenue reduced its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 9.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,574 shares of the financial services provider’s stock after selling 1,460 shares during the period. State of Alaska Department of Revenue’s holdings in United Bankshares were worth $547,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Point72 Asset Management L.P. purchased a new stake in United Bankshares in the 4th quarter worth about $43,000. Key Financial Inc increased its stake in shares of United Bankshares by 735.6% in the third quarter. Key Financial Inc now owns 1,830 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 1,611 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of United Bankshares by 427.8% in the first quarter. Steward Partners Investment Advisory LLC now owns 1,974 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 1,600 shares during the period. Covestor Ltd lifted its stake in shares of United Bankshares by 74.7% during the 1st quarter. Covestor Ltd now owns 2,420 shares of the financial services provider’s stock valued at $84,000 after buying an additional 1,035 shares in the last quarter. Finally, Anchor Investment Management LLC purchased a new stake in shares of United Bankshares during the 4th quarter valued at approximately $95,000. 70.80% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Raymond James lifted their price objective on shares of United Bankshares from $38.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, January 5th.

United Bankshares Stock Performance

Shares of UBSI opened at $33.12 on Friday. United Bankshares, Inc. has a 52-week low of $25.35 and a 52-week high of $38.74. The stock’s 50-day simple moving average is $34.48 and its 200 day simple moving average is $33.50. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 12.22 and a beta of 1.00.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings results on Friday, January 26th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. The firm had revenue of $402.85 million for the quarter, compared to the consensus estimate of $258.98 million. United Bankshares had a net margin of 23.84% and a return on equity of 8.05%. During the same period in the prior year, the firm posted $0.74 earnings per share. Research analysts forecast that United Bankshares, Inc. will post 2.64 EPS for the current fiscal year.

United Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend was Thursday, March 7th. United Bankshares’s payout ratio is 54.61%.

United Bankshares Company Profile

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.