Crossmark Global Holdings Inc. Sells 937 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Crossmark Global Holdings Inc. lowered its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 10.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,807 shares of the financial services provider’s stock after selling 937 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in United Bankshares were worth $253,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Innealta Capital LLC acquired a new position in shares of United Bankshares during the second quarter worth approximately $116,000. Nisa Investment Advisors LLC lifted its holdings in shares of United Bankshares by 96.9% during the second quarter. Nisa Investment Advisors LLC now owns 12,848 shares of the financial services provider’s stock worth $422,000 after buying an additional 6,323 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of United Bankshares by 1.8% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,334,931 shares of the financial services provider’s stock worth $43,305,000 after buying an additional 23,640 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of United Bankshares by 2,977.3% during the second quarter. Blue Trust Inc. now owns 6,647 shares of the financial services provider’s stock worth $238,000 after buying an additional 6,431 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in shares of United Bankshares by 5.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 6,587 shares of the financial services provider’s stock worth $214,000 after buying an additional 350 shares during the last quarter. Institutional investors own 70.80% of the company’s stock.

United Bankshares Stock Performance

Shares of NASDAQ UBSI opened at $37.78 on Thursday. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $36.06 and a 200 day simple moving average of $34.40. United Bankshares, Inc. has a one year low of $25.35 and a one year high of $39.93. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of 14.42 and a beta of 0.99.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.07. United Bankshares had a return on equity of 7.72% and a net margin of 22.44%. The firm had revenue of $255.94 million during the quarter, compared to analyst estimates of $255.54 million. During the same period in the prior year, the company posted $0.68 earnings per share. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. Sell-side analysts expect that United Bankshares, Inc. will post 2.7 EPS for the current year.

United Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $0.37 per share. The ex-dividend date is Friday, September 13th. This represents a $1.48 annualized dividend and a yield of 3.92%. United Bankshares’s dividend payout ratio is currently 56.49%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on UBSI. DA Davidson upped their price target on United Bankshares from $36.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods upped their target price on United Bankshares from $38.00 to $40.00 and gave the company a “market perform” rating in a research note on Friday, July 26th. StockNews.com upgraded United Bankshares from a “sell” rating to a “hold” rating in a research note on Friday, July 26th. Finally, Stephens upped their target price on United Bankshares from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $40.25.

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.