Envestnet Asset Management Inc. Sells 11,241 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Envestnet Asset Management Inc. decreased its position in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 4.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 249,711 shares of the financial services provider's stock after selling 11,241 shares during the quarter. Envestnet Asset Management Inc. owned 0.17% of United Bankshares worth $8,657,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in United Bankshares by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 14,310,562 shares of the financial services provider's stock valued at $537,362,000 after purchasing an additional 115,681 shares in the last quarter. Earnest Partners LLC raised its position in shares of United Bankshares by 0.7% during the 4th quarter. Earnest Partners LLC now owns 4,199,136 shares of the financial services provider's stock valued at $157,678,000 after buying an additional 29,898 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of United Bankshares by 13.7% in the 4th quarter. Northern Trust Corp now owns 1,774,018 shares of the financial services provider's stock valued at $66,614,000 after acquiring an additional 213,441 shares during the last quarter. Norges Bank purchased a new position in United Bankshares in the fourth quarter worth about $54,712,000. Finally, ProShare Advisors LLC grew its position in United Bankshares by 3.9% in the fourth quarter. ProShare Advisors LLC now owns 1,123,987 shares of the financial services provider's stock worth $42,206,000 after acquiring an additional 41,819 shares in the last quarter. 70.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Wall Street Zen downgraded United Bankshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Keefe, Bruyette & Woods decreased their price target on United Bankshares from $42.00 to $40.00 and set a "market perform" rating on the stock in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $40.63.

United Bankshares Trading Up 0.4%

Shares of NASDAQ:UBSI traded up $0.14 during trading hours on Thursday, hitting $37.00. 468,188 shares of the company's stock traded hands, compared to its average volume of 800,459. The firm has a market capitalization of $5.26 billion, a P/E ratio of 13.75 and a beta of 0.76. The business has a fifty day moving average price of $36.64 and a 200-day moving average price of $36.02. United Bankshares, Inc. has a 1 year low of $30.50 and a 1 year high of $44.43. 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 (NASDAQ:UBSI - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.08. The firm had revenue of $306.00 million during the quarter, compared to analyst estimates of $297.98 million. United Bankshares had a return on equity of 7.36% and a net margin of 22.35%. During the same period last year, the company earned $0.71 EPS. Equities analysts expect that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend was Friday, June 13th. United Bankshares's dividend payout ratio is currently 55.02%.

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.