Deutsche Bank AG Sells 9,105 Shares of United Bankshares, Inc. $UBSI

Key Points

• Deutsche Bank AG reduced its stake in United Bankshares, Inc. by 8.0% in the first quarter, lowering its holdings to 104,695 shares valued at approximately $3.63 million.
• Several other institutional investors have increased their stakes in United Bankshares, with Fifth Third Bancorp making the largest boost at 44.4% in the first quarter.
• United Bankshares reported a Q2 EPS of $0.85, surpassing analyst estimates, with a total revenue of $306 million for the quarter.

Deutsche Bank AG trimmed its position in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 8.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 104,695 shares of the financial services provider's stock after selling 9,105 shares during the quarter. Deutsche Bank AG owned approximately 0.07% of United Bankshares worth $3,630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Cerity Partners LLC lifted its holdings in United Bankshares by 0.8% in the 1st quarter. Cerity Partners LLC now owns 42,211 shares of the financial services provider's stock worth $1,463,000 after purchasing an additional 346 shares during the last quarter. Amalgamated Bank lifted its holdings in United Bankshares by 1.1% in the 1st quarter. Amalgamated Bank now owns 62,509 shares of the financial services provider's stock worth $2,167,000 after purchasing an additional 698 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in United Bankshares by 0.5% in the 1st quarter. New York State Teachers Retirement System now owns 133,107 shares of the financial services provider's stock worth $4,615,000 after purchasing an additional 600 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in United Bankshares by 8.6% in the 1st quarter. State of Alaska Department of Revenue now owns 16,719 shares of the financial services provider's stock worth $579,000 after purchasing an additional 1,330 shares during the last quarter. Finally, Nomura Holdings Inc. acquired a new stake in United Bankshares in the 4th quarter worth approximately $671,000. 70.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on UBSI shares. Zacks Research upgraded United Bankshares to a "hold" rating in a report on Friday, August 8th. Keefe, Bruyette & Woods reduced their target price on United Bankshares from $42.00 to $40.00 and set a "market perform" rating for the company in a report on Monday, April 28th. Finally, Wall Street Zen lowered United Bankshares from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $40.50.

United Bankshares Stock Performance

NASDAQ UBSI traded up $1.82 during trading on Friday, hitting $38.73. The company's stock had a trading volume of 778,061 shares, compared to its average volume of 638,112. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average price of $36.69 and a 200 day moving average price of $35.79. The firm has a market cap of $5.49 billion, a P/E ratio of 13.69 and a beta of 0.79. United Bankshares, Inc. has a 52 week low of $30.50 and a 52 week high of $44.43.

United Bankshares (NASDAQ:UBSI - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.77 by $0.08. The company had revenue of $306.00 million for the quarter, compared to the consensus estimate of $297.98 million. United Bankshares had a return on equity of 7.65% and a net margin of 23.14%.During the same period in the previous year, the business posted $0.71 EPS. Equities research analysts forecast that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

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.