Arizona State Retirement System Sells 459 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Arizona State Retirement System lessened its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 1.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,766 shares of the financial services provider’s stock after selling 459 shares during the quarter. Arizona State Retirement System’s holdings in United Bankshares were worth $1,344,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Farther Finance Advisors LLC boosted its holdings in United Bankshares by 726.5% in the 1st quarter. Farther Finance Advisors LLC now owns 967 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 850 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in United Bankshares by 37.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,480 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 400 shares during the last quarter. Fifth Third Bancorp increased its holdings in United Bankshares by 44.4% during the 1st quarter. Fifth Third Bancorp now owns 1,699 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 522 shares during the period. Headlands Technologies LLC bought a new position in shares of United Bankshares during the fourth quarter valued at approximately $85,000. Finally, UMB Bank n.a. raised its holdings in United Bankshares by 207.7% in the 1st quarter. UMB Bank n.a. now owns 2,597 shares of the financial services provider’s stock worth $90,000 after purchasing an additional 1,753 shares in the last quarter. Institutional investors and hedge funds own 70.80% of the company’s stock.

United Bankshares Price Performance

United Bankshares stock opened at $37.30 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.10. United Bankshares, Inc. has a 12-month low of $30.51 and a 12-month high of $44.43. The firm has a market capitalization of $5.30 billion, a PE ratio of 13.87 and a beta of 0.76. The firm has a 50-day moving average price of $36.64 and a 200-day moving average price of $36.02.

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

United Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were paid a dividend of $0.37 per share. The ex-dividend date was Friday, June 13th. This represents a $1.48 annualized dividend and a dividend yield of 3.97%. United Bankshares’s dividend payout ratio (DPR) is presently 55.02%.

Wall Street Analyst Weigh In

UBSI has been the subject of a number of analyst reports. Wall Street Zen lowered United Bankshares from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. Keefe, Bruyette & Woods cut their target price on United Bankshares from $42.00 to $40.00 and set a “market perform” rating on the stock in a research note on Monday, April 28th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $40.63.

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.