Fisher Asset Management LLC Sells 72,881 Shares of United Bankshares, Inc. $UBSI

Fisher Asset Management LLC cut its position in United Bankshares, Inc. (NASDAQ:UBSI) by 5.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,158,778 shares of the financial services provider’s stock after selling 72,881 shares during the period. Fisher Asset Management LLC owned 0.82% of United Bankshares worth $42,214,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Lynx Investment Advisory boosted its holdings in shares of United Bankshares by 3.5% in the 2nd quarter. Lynx Investment Advisory now owns 10,670 shares of the financial services provider’s stock worth $389,000 after acquiring an additional 356 shares in the last quarter. Ameritas Investment Partners Inc. raised its position in United Bankshares by 1.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 41,978 shares of the financial services provider’s stock valued at $1,529,000 after purchasing an additional 512 shares during the last quarter. Hantz Financial Services Inc. raised its position in United Bankshares by 261.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 749 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 542 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in United Bankshares by 1.5% in the first quarter. Summit Investment Advisors Inc. now owns 41,466 shares of the financial services provider’s stock worth $1,438,000 after purchasing an additional 612 shares in the last quarter. Finally, MetLife Investment Management LLC grew its holdings in shares of United Bankshares by 0.4% during the first quarter. MetLife Investment Management LLC now owns 153,917 shares of the financial services provider’s stock worth $5,336,000 after purchasing an additional 676 shares during the last quarter. Institutional investors and hedge funds own 70.80% of the company’s stock.

United Bankshares Price Performance

Shares of UBSI stock opened at $37.55 on Wednesday. The firm has a market cap of $5.27 billion, a price-to-earnings ratio of 12.31 and a beta of 0.83. United Bankshares, Inc. has a 12 month low of $30.50 and a 12 month high of $42.40. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average price of $36.50 and a 200 day moving average price of $36.76.

United Bankshares (NASDAQ:UBSI) last issued its earnings results on Thursday, October 23rd. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.10. The company had revenue of $280.90 million for the quarter, compared to analyst estimates of $307.78 million. United Bankshares had a net margin of 24.37% and a return on equity of 8.15%. During the same quarter last year, the firm earned $0.70 EPS. Research analysts expect that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Friday, December 12th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, December 12th. This represents a $1.52 dividend on an annualized basis and a yield of 4.0%. This is a boost from United Bankshares’s previous quarterly dividend of $0.37. United Bankshares’s dividend payout ratio (DPR) is presently 49.84%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Zacks Research raised United Bankshares from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 19th. Weiss Ratings restated a “hold (c+)” rating on shares of United Bankshares in a research report on Monday. Finally, Piper Sandler set a $42.50 target price on shares of United Bankshares and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, United Bankshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.83.

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.