United Bankshares, Inc. $UBSI Shares Sold by Graham Capital Management L.P.

Key Points

• Graham Capital Management L.P. sold 27,687 shares of United Bankshares, Inc. (NASDAQ: UBSI), reducing its stake by 58.7%, leaving it with 19,496 shares valued at approximately $676,000.
• Multiple institutional investors increased their stakes in United Bankshares during the first quarter, with Cerity Partners LLC owning 42,211 shares valued at $1.46 million and Amalgamated Bank owning 62,509 shares valued at $2.17 million.
• United Bankshares recently announced a quarterly dividend of $0.37, yielding 3.9% annually, with the ex-dividend date set for September 12th.

Graham Capital Management L.P. trimmed its position in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 58.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,496 shares of the financial services provider's stock after selling 27,687 shares during the period. Graham Capital Management L.P.'s holdings in United Bankshares were worth $676,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Cerity Partners LLC increased its holdings in shares of United Bankshares by 0.8% in the 1st quarter. Cerity Partners LLC now owns 42,211 shares of the financial services provider's stock valued at $1,463,000 after acquiring an additional 346 shares during the last quarter. Teacher Retirement System of Texas raised its stake in United Bankshares by 1.8% during the 1st quarter. Teacher Retirement System of Texas now owns 20,813 shares of the financial services provider's stock worth $722,000 after acquiring an additional 371 shares in the last quarter. Captrust Financial Advisors raised its stake in United Bankshares by 0.7% during the 4th quarter. Captrust Financial Advisors now owns 73,655 shares of the financial services provider's stock worth $2,766,000 after acquiring an additional 510 shares in the last quarter. Fifth Third Bancorp raised its stake in United Bankshares by 44.4% during the 1st quarter. Fifth Third Bancorp now owns 1,699 shares of the financial services provider's stock worth $59,000 after acquiring an additional 522 shares in the last quarter. Finally, New York State Teachers Retirement System increased its position in shares of United Bankshares by 0.5% during the first 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 in the last quarter. Hedge funds and other institutional investors own 70.80% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on UBSI shares. Zacks Research upgraded United Bankshares to a "hold" rating in a research report on Friday, August 8th. Wall Street Zen cut United Bankshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, United Bankshares has a consensus rating of "Hold" and a consensus target price of $40.50.

United Bankshares Stock Performance

NASDAQ UBSI traded up $0.10 during trading on Wednesday, reaching $37.88. The company's stock had a trading volume of 142,133 shares, compared to its average volume of 762,401. The firm has a market cap of $5.36 billion, a price-to-earnings ratio of 13.41 and a beta of 0.82. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98. United Bankshares, Inc. has a twelve month low of $30.50 and a twelve month high of $44.43. The business's fifty day moving average price is $37.29 and its 200-day moving average price is $35.82.

United Bankshares (NASDAQ:UBSI - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.85 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.08. The company had revenue of $306.00 million during the quarter, compared to the consensus estimate of $297.98 million. United Bankshares had a net margin of 23.14% and a return on equity of 7.65%. During the same quarter in the prior year, the firm earned $0.71 EPS. As a group, analysts anticipate that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, September 12th. This represents a $1.48 dividend on an annualized basis and a yield of 3.9%. United Bankshares's dividend payout ratio is presently 52.30%.

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.