United Bankshares, Inc. (NASDAQ:UBSI) Stake Reduced by Arizona State Retirement System

Arizona State Retirement System cut its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,721 shares of the financial services provider’s stock after selling 699 shares during the quarter. Arizona State Retirement System’s holdings in United Bankshares were worth $1,416,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fifth Third Bancorp raised its position in United Bankshares by 206.0% in the fourth quarter. Fifth Third Bancorp now owns 976 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 657 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in United Bankshares in the fourth quarter worth about $43,000. Key Financial Inc raised its position in 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 acquiring an additional 1,611 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in United Bankshares by 427.8% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 1,974 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 1,600 shares in the last quarter. Finally, 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. 70.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

United Bankshares Trading Down 0.4 %

NASDAQ:UBSI opened at $33.12 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.98 and a quick ratio of 0.98. United Bankshares, Inc. has a fifty-two week low of $25.35 and a fifty-two week high of $38.74. The stock’s 50-day moving average is $34.48 and its two-hundred day moving average is $33.54. The stock has a market cap of $4.47 billion, a PE ratio of 12.22 and a beta of 1.00.

United Bankshares (NASDAQ:UBSI) last released its earnings results on Friday, January 26th. The financial services provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.01. The company had revenue of $402.85 million for the quarter, compared to analysts’ expectations of $258.98 million. United Bankshares had a return on equity of 8.05% and a net margin of 23.84%. During the same quarter in the previous year, the business posted $0.74 EPS. As a group, equities research analysts forecast that United Bankshares, Inc. will post 2.64 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

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

United Bankshares 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.