City Holding Co. lowered its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 30.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 11,785 shares of the financial services provider’s stock after selling 5,100 shares during the quarter. City Holding Co.’s holdings in United Bankshares were worth $437,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its holdings in United Bankshares by 9.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,609,029 shares of the financial services provider’s stock worth $143,386,000 after acquiring an additional 403,409 shares during the last quarter. Northern Trust Corp increased its position in United Bankshares by 0.3% during the first quarter. Northern Trust Corp now owns 2,856,393 shares of the financial services provider’s stock valued at $103,516,000 after acquiring an additional 9,607 shares during the last quarter. Geode Capital Management LLC increased its position in United Bankshares by 9.4% during the fourth quarter. Geode Capital Management LLC now owns 1,186,991 shares of the financial services provider’s stock valued at $36,927,000 after acquiring an additional 101,765 shares during the last quarter. Anchor Capital Advisors LLC grew its holdings in shares of United Bankshares by 13.6% in the first quarter. Anchor Capital Advisors LLC now owns 1,070,583 shares of the financial services provider’s stock worth $38,798,000 after purchasing an additional 127,837 shares during the last quarter. Finally, Norges Bank bought a new position in shares of United Bankshares in the fourth quarter worth about $28,392,000. 72.74% of the stock is currently owned by institutional investors.
A number of analysts recently weighed in on UBSI shares. BidaskClub lowered shares of Xilinx from a “buy” rating to a “hold” rating in a research note on Saturday, June 15th. Zacks Investment Research raised shares of Hallmark Financial Services from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Friday, July 19th. Finally, Boenning Scattergood reaffirmed an “outperform” rating and issued a $47.75 price objective on shares of WSFS Financial in a research note on Thursday, June 20th.
NASDAQ:UBSI traded down $0.09 during mid-day trading on Friday, reaching $37.60. The company’s stock had a trading volume of 5,639 shares, compared to its average volume of 361,112. United Bankshares, Inc. has a 1 year low of $29.13 and a 1 year high of $39.95. The business’s fifty day simple moving average is $36.81. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 1.87 and a beta of 1.23. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.02.
United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.02. United Bankshares had a net margin of 29.74% and a return on equity of 7.93%. The company had revenue of $190.35 million during the quarter, compared to analyst estimates of $183.29 million. During the same period in the prior year, the firm earned $0.63 earnings per share. As a group, equities analysts forecast that United Bankshares, Inc. will post 2.53 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date was Thursday, June 13th. United Bankshares’s dividend payout ratio (DPR) is presently 55.51%.
United Bankshares Profile
United Bankshares, Inc, a financial holding company, 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.
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