ProShare Advisors LLC Reduces Stock Position in United Bankshares, Inc. $UBSI

ProShare Advisors LLC lowered its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 1.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,140,858 shares of the financial services provider’s stock after selling 11,586 shares during the quarter. ProShare Advisors LLC owned about 0.81% of United Bankshares worth $42,451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Ameritas Advisory Services LLC bought a new position in shares of United Bankshares in the 2nd quarter valued at about $25,000. Hantz Financial Services Inc. boosted its stake in United Bankshares by 261.8% during the second quarter. Hantz Financial Services Inc. now owns 749 shares of the financial services provider’s stock worth $27,000 after buying an additional 542 shares during the period. Bogart Wealth LLC boosted its holdings in United Bankshares by 655.4% in the third quarter. Bogart Wealth LLC now owns 763 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 662 shares during the period. EverSource Wealth Advisors LLC lifted its stake in United Bankshares by 528.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,175 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 988 shares during the last quarter. Finally, Allworth Financial LP raised its stake in United Bankshares by 394.1% in the second quarter. Allworth Financial LP now owns 1,265 shares of the financial services provider’s stock valued at $46,000 after buying an additional 1,009 shares in the last quarter. 70.80% of the stock is owned by hedge funds and other institutional investors.

United Bankshares Trading Down 1.0%

UBSI stock opened at $45.05 on Tuesday. The company has a market cap of $6.33 billion, a price-to-earnings ratio of 13.78 and a beta of 0.78. 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 business has a fifty day simple moving average of $40.46 and a 200-day simple moving average of $38.10. United Bankshares, Inc. has a 52 week low of $30.50 and a 52 week high of $45.92.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.05. The business had revenue of $430.85 million for the quarter, compared to analyst estimates of $315.50 million. United Bankshares had a return on equity of 8.60% and a net margin of 25.51%.During the same period in the previous year, the company posted $0.69 EPS. On average, equities research analysts expect that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 12th were issued a $0.38 dividend. The ex-dividend date was Friday, December 12th. This represents a $1.52 annualized dividend and a yield of 3.4%. This is an increase from United Bankshares’s previous quarterly dividend of $0.37. United Bankshares’s payout ratio is currently 46.48%.

Wall Street Analyst Weigh In

Several brokerages have commented on UBSI. Stephens increased their price target on shares of United Bankshares from $40.00 to $44.00 and gave the company an “equal weight” rating in a research note on Friday, January 23rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of United Bankshares in a research report on Monday, December 29th. Zacks Research upgraded shares of United Bankshares from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Piper Sandler restated an “overweight” rating and issued a $47.00 price objective on shares of United Bankshares in a research note on Monday, January 26th. Finally, Keefe, Bruyette & Woods upped their target price on United Bankshares from $40.00 to $43.00 and gave the company a “market perform” rating in a research report on Monday, January 26th. One equities research 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $44.67.

United Bankshares Profile

United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company’s core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.

United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.