Vanguard Group Inc. Cuts Stock Position in United Bankshares, Inc. (NASDAQ:UBSI)

Vanguard Group Inc. trimmed its position in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 0.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,298,754 shares of the financial services provider’s stock after selling 11,808 shares during the quarter. Vanguard Group Inc. owned approximately 9.97% of United Bankshares worth $495,738,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in UBSI. Farther Finance Advisors LLC grew 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 buying an additional 850 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in United Bankshares by 144.2% during the 1st quarter. Meeder Asset Management Inc. now owns 1,155 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 682 shares in the last quarter. CWM LLC increased its holdings in United Bankshares by 226.9% during the 1st quarter. CWM LLC now owns 1,651 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 1,146 shares during the period. 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 worth $59,000 after purchasing an additional 522 shares during the period. Finally, Hughes Financial Services LLC purchased a new stake in United Bankshares during the 1st quarter worth about $60,000. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

United Bankshares Stock Performance

United Bankshares stock opened at $37.73 on Friday. 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 stock has a fifty day moving average of $36.57 and a two-hundred day moving average of $35.85. The company has a market capitalization of $5.34 billion, a price-to-earnings ratio of 13.33 and a beta of 0.79. United Bankshares, Inc. has a fifty-two week low of $30.50 and a fifty-two week high of $44.43.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.08. The business had revenue of $306.00 million during the quarter, compared to the consensus estimate of $297.98 million. United Bankshares had a return on equity of 7.65% and a net margin of 23.14%. During the same quarter in the previous year, the business earned $0.71 earnings per share. On average, analysts anticipate that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on UBSI shares. Wall Street Zen downgraded United Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Keefe, Bruyette & Woods reduced their price target on United Bankshares from $42.00 to $40.00 and set a “market perform” rating for the company in a report on Monday, April 28th.

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.