Raymond James & Associates Sells 1,080 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Raymond James & Associates trimmed its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 1.0% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 102,025 shares of the financial services provider’s stock after selling 1,080 shares during the quarter. Raymond James & Associates’ holdings in United Bankshares were worth $3,785,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. UMB Bank n.a. raised its holdings in shares of United Bankshares by 237.6% during the 3rd quarter. UMB Bank n.a. now owns 844 shares of the financial services provider’s stock worth $31,000 after buying an additional 594 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of United Bankshares by 253.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,545 shares of the financial services provider’s stock worth $50,000 after buying an additional 1,108 shares in the last quarter. New Covenant Trust Company N.A. acquired a new position in shares of United Bankshares during the 1st quarter worth $79,000. Innealta Capital LLC acquired a new position in shares of United Bankshares during the 2nd quarter worth $116,000. Finally, Marathon Strategic Advisors LLC acquired a new position in shares of United Bankshares during the 3rd quarter worth $206,000. 70.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on UBSI shares. Stephens boosted their price target on United Bankshares from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods boosted their price target on United Bankshares from $38.00 to $40.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. StockNews.com cut United Bankshares from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Finally, DA Davidson upped their target price on United Bankshares from $36.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $40.25.

United Bankshares Price Performance

Shares of UBSI opened at $37.61 on Monday. United Bankshares, Inc. has a 12-month low of $28.77 and a 12-month high of $39.93. The business has a 50-day simple moving average of $37.29 and a two-hundred day simple moving average of $35.22. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. The stock has a market cap of $5.09 billion, a PE ratio of 14.25 and a beta of 0.98.

United Bankshares (NASDAQ:UBSI) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.03. United Bankshares had a return on equity of 7.58% and a net margin of 22.05%. The business had revenue of $414.67 million during the quarter, compared to analysts’ expectations of $260.30 million. During the same quarter in the prior year, the firm earned $0.71 EPS. Analysts anticipate that United Bankshares, Inc. will post 2.7 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a $0.37 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.94%. United Bankshares’s dividend payout ratio (DPR) is presently 56.06%.

About United Bankshares

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.