United Bankshares, Inc. $UBSI Shares Sold by Meeder Asset Management Inc.

Meeder Asset Management Inc. lessened its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 33.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,317 shares of the financial services provider’s stock after selling 15,342 shares during the period. Meeder Asset Management Inc.’s holdings in United Bankshares were worth $1,256,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Caitong International Asset Management Co. Ltd purchased a new position in shares of United Bankshares during the 3rd quarter worth approximately $25,000. Eurizon Capital SGR S.p.A. purchased a new stake in United Bankshares in the 4th quarter valued at approximately $26,000. Root Financial Partners LLC grew its holdings in United Bankshares by 64.4% during the 1st quarter. Root Financial Partners LLC now owns 786 shares of the financial services provider’s stock valued at $33,000 after buying an additional 308 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in United Bankshares by 196.2% during the 4th quarter. Farther Finance Advisors LLC now owns 856 shares of the financial services provider’s stock valued at $33,000 after buying an additional 567 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in United Bankshares by 528.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,175 shares of the financial services provider’s stock worth $43,000 after buying an additional 988 shares in the last quarter. 70.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on UBSI. Hovde Group initiated coverage on shares of United Bankshares in a research note on Wednesday, June 24th. They issued a “market perform” rating and a $49.00 target price for the company. Zacks Research cut shares of United Bankshares from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Raymond James Financial lifted their price target on shares of United Bankshares from $49.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Weiss Ratings reissued a “buy (b)” rating on shares of United Bankshares in a research report on Monday, July 6th. Finally, Wall Street Zen downgraded shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, United Bankshares presently has a consensus rating of “Hold” and an average target price of $46.60.

United Bankshares Trading Down 0.8%

Shares of UBSI stock opened at $47.18 on Tuesday. The firm’s 50-day simple moving average is $44.69 and its 200-day simple moving average is $42.99. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.98. United Bankshares, Inc. has a 1-year low of $34.10 and a 1-year high of $48.22. The firm has a market cap of $6.50 billion, a P/E ratio of 13.22 and a beta of 0.71.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.89 EPS for the quarter, topping the consensus estimate of $0.85 by $0.04. The firm had revenue of $316.58 million during the quarter, compared to analyst estimates of $315.15 million. United Bankshares had a net margin of 27.45% and a return on equity of 9.26%. During the same quarter in the prior year, the business posted $0.59 earnings per share. As a group, equities analysts forecast that United Bankshares, Inc. will post 3.64 EPS for the current year.

United Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Friday, June 12th. United Bankshares’s dividend payout ratio is presently 42.58%.

About United Bankshares

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.