United Bankshares, Inc. (NASDAQ:UBSI) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,665,006 shares of the financial services provider’s stock after selling 26,649 shares during the period. Bank of New York Mellon Corp owned approximately 1.23% of United Bankshares worth $54,013,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in UBSI. Norges Bank acquired a new position in United Bankshares during the fourth quarter worth about $45,308,000. Dimensional Fund Advisors LP raised its position in United Bankshares by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,291,001 shares of the financial services provider’s stock worth $273,782,000 after acquiring an additional 172,997 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in United Bankshares by 14.8% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,311,291 shares of the financial services provider’s stock worth $46,931,000 after acquiring an additional 169,200 shares during the last quarter. UBS Group AG grew its holdings 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 buying an additional 138,317 shares in the last quarter. Finally, Axxcess Wealth Management LLC grew its holdings in shares of United Bankshares by 283.7% during the fourth quarter. Axxcess Wealth Management LLC now owns 162,692 shares of the financial services provider’s stock worth $6,109,000 after buying an additional 120,294 shares in the last quarter. Institutional investors and hedge funds own 70.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on UBSI. Stephens lifted their price target on shares of United Bankshares from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. StockNews.com upgraded shares of United Bankshares from a “sell” rating to a “hold” rating in a report on Friday, July 26th. DA Davidson lifted their price target 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. Finally, Keefe, Bruyette & Woods lifted their price target on shares of United Bankshares from $38.00 to $40.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $40.25.

United Bankshares Stock Performance

Shares of UBSI stock opened at $38.87 on Friday. United Bankshares, Inc. has a one year low of $25.35 and a one year high of $39.93. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.99 and a current ratio of 1.00. The company has a 50 day moving average price of $35.65 and a 200 day moving average price of $34.34. The firm has a market capitalization of $5.26 billion, a price-to-earnings ratio of 14.84 and a beta of 0.99.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.64 by $0.07. United Bankshares had a net margin of 22.44% and a return on equity of 7.72%. The firm had revenue of $255.94 million during the quarter, compared to analyst estimates of $255.54 million. During the same quarter in the prior year, the business posted $0.68 earnings per share. United Bankshares’s revenue for the quarter was down 2.6% compared to the same quarter last year. Sell-side analysts anticipate that United Bankshares, Inc. will post 2.7 EPS for the current year.

United Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend is Friday, September 13th. United Bankshares’s payout ratio is currently 56.49%.

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.