Raymond James & Associates Has $3.79 Million Stock Position in United Bankshares, Inc. (NASDAQ:UBSI)

Raymond James & Associates decreased its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 1.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 102,025 shares of the financial services provider’s stock after selling 1,080 shares during the quarter. Raymond James & Associates owned about 0.08% of United Bankshares worth $3,785,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in UBSI. State of Michigan Retirement System boosted its stake in shares of United Bankshares by 1.9% during the 1st quarter. State of Michigan Retirement System now owns 33,013 shares of the financial services provider’s stock worth $1,182,000 after acquiring an additional 600 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of United Bankshares by 77.8% during the 1st quarter. BNP Paribas Financial Markets now owns 69,932 shares of the financial services provider’s stock worth $2,503,000 after acquiring an additional 30,590 shares during the period. Daiwa Securities Group Inc. bought a new position in shares of United Bankshares during the 1st quarter worth approximately $334,000. RIA Advisory Group LLC bought a new position in shares of United Bankshares during the 1st quarter worth approximately $490,000. Finally, Texas Permanent School Fund Corp boosted its stake in shares of United Bankshares by 1.1% during the 1st quarter. Texas Permanent School Fund Corp now owns 117,813 shares of the financial services provider’s stock worth $4,217,000 after acquiring an additional 1,250 shares during the period. Institutional investors and hedge funds own 70.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on UBSI shares. Stephens lifted their target price on United Bankshares from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. StockNews.com downgraded United Bankshares from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods boosted their price target on United Bankshares from $38.00 to $40.00 and gave the company a “market perform” rating in a research note on Friday, July 26th. Finally, DA Davidson boosted their price target on United Bankshares from $36.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $40.25.

United Bankshares Stock Performance

UBSI opened at $37.61 on Monday. The business has a fifty day simple moving average of $37.29 and a 200 day simple moving average of $35.22. The company has a market capitalization of $5.09 billion, a PE ratio of 14.25 and a beta of 0.98. United Bankshares, Inc. has a 1 year low of $28.77 and a 1 year high of $39.93. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.97.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.03. The business had revenue of $414.67 million during the quarter, compared to the consensus estimate of $260.30 million. United Bankshares had a return on equity of 7.58% and a net margin of 22.05%. During the same period in the previous year, the company posted $0.71 EPS. Research analysts expect that United Bankshares, Inc. will post 2.7 EPS for the current year.

United Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.94%. United Bankshares’s payout ratio is 56.06%.

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.