Federated Hermes Inc. Lowers Position in United Bankshares, Inc. (NASDAQ:UBSI)

Federated Hermes Inc. lessened its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 7.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,631 shares of the financial services provider’s stock after selling 1,454 shares during the period. Federated Hermes Inc.’s holdings in United Bankshares were worth $604,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of UBSI. American Century Companies Inc. increased its holdings in shares of United Bankshares by 3.6% during the second quarter. American Century Companies Inc. now owns 73,340 shares of the financial services provider’s stock valued at $2,379,000 after acquiring an additional 2,577 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in United Bankshares by 27.5% in the second quarter. Daiwa Securities Group Inc. now owns 11,901 shares of the financial services provider’s stock worth $386,000 after buying an additional 2,565 shares during the last quarter. Anchor Capital Advisors LLC raised its holdings in United Bankshares by 5.7% in the second quarter. Anchor Capital Advisors LLC now owns 54,135 shares of the financial services provider’s stock worth $1,756,000 after buying an additional 2,930 shares during the last quarter. Arizona State Retirement System lifted its position in United Bankshares by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 37,781 shares of the financial services provider’s stock valued at $1,226,000 after acquiring an additional 698 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in United Bankshares by 1.4% during the 2nd quarter. Victory Capital Management Inc. now owns 3,982,478 shares of the financial services provider’s stock valued at $129,192,000 after purchasing an additional 55,633 shares during the last quarter. Hedge funds and other institutional investors own 70.80% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on UBSI shares. Stephens upped their price target on United Bankshares from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. StockNews.com raised United Bankshares from a “sell” rating to a “hold” rating in a research report on Wednesday, September 18th. DA Davidson raised their price objective on shares of United Bankshares from $36.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Finally, Keefe, Bruyette & Woods upped their target price on shares of United Bankshares from $38.00 to $40.00 and gave the company a “market perform” rating in a report on Friday, July 26th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, United Bankshares has an average rating of “Hold” and a consensus target price of $40.25.

United Bankshares Stock Performance

UBSI opened at $37.69 on Tuesday. The company has a 50 day simple moving average of $37.25 and a two-hundred day simple moving average of $34.64. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.00 and a quick ratio of 0.99. The firm has a market cap of $5.10 billion, a P/E ratio of 14.39 and a beta of 0.99. United Bankshares, Inc. has a 1-year low of $25.35 and a 1-year high of $39.93.

United Bankshares (NASDAQ:UBSI) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating 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 company had revenue of $255.94 million for the quarter, compared to the consensus estimate of $255.54 million. During the same quarter last year, the company earned $0.68 EPS. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. Equities analysts forecast that United Bankshares, Inc. will post 2.7 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, September 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.93%. United Bankshares’s payout ratio is 56.49%.

United Bankshares Company 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.