Cambridge Investment Research Advisors Inc. Sells 3,073 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Cambridge Investment Research Advisors Inc. trimmed its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 11.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,368 shares of the financial services provider’s stock after selling 3,073 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in United Bankshares were worth $845,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of United Bankshares by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,310,562 shares of the financial services provider’s stock valued at $537,362,000 after buying an additional 115,681 shares in the last quarter. Earnest Partners LLC raised its holdings in shares of United Bankshares by 0.7% in the fourth quarter. Earnest Partners LLC now owns 4,199,136 shares of the financial services provider’s stock valued at $157,678,000 after purchasing an additional 29,898 shares during the last quarter. Northern Trust Corp raised its holdings in shares of United Bankshares by 13.7% in the fourth quarter. Northern Trust Corp now owns 1,774,018 shares of the financial services provider’s stock valued at $66,614,000 after purchasing an additional 213,441 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of United Bankshares by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,710,588 shares of the financial services provider’s stock valued at $64,233,000 after purchasing an additional 37,532 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of United Bankshares in the fourth quarter valued at about $54,712,000. 70.80% of the stock is owned by institutional investors.

United Bankshares Stock Performance

NASDAQ UBSI opened at $38.41 on Monday. United Bankshares, Inc. has a 52-week low of $30.51 and a 52-week high of $44.43. The company has a 50-day simple moving average of $36.11 and a 200 day simple moving average of $36.03. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $5.46 billion, a PE ratio of 14.28 and a beta of 0.76.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.07). United Bankshares had a return on equity of 7.36% and a net margin of 22.35%. The company had revenue of $289.61 million for the quarter, compared to analysts’ expectations of $279.02 million. During the same quarter last year, the business posted $0.64 EPS. The business’s quarterly revenue was up 13.7% on a year-over-year basis. On average, research analysts predict that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.48 dividend on an annualized basis and a yield of 3.85%. United Bankshares’s dividend payout ratio (DPR) is presently 55.02%.

Wall Street Analyst Weigh In

Several analysts have recently commented on UBSI shares. Keefe, Bruyette & Woods lowered their target price on shares of United Bankshares from $42.00 to $40.00 and set a “market perform” rating for the company in a report on Monday, April 28th. Wall Street Zen downgraded shares of United Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Finally, Piper Sandler reiterated a “neutral” rating and issued a $38.50 target price on shares of United Bankshares in a report on Wednesday, March 12th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $40.63.

About United Bankshares

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.