Northern Trust Corp Sells 39,619 Shares of United Bankshares, Inc. $UBSI

Key Points

• Northern Trust Corp reduced its stake in United Bankshares, Inc. by 2.2%, selling 39,619 shares and retaining a total of 1,734,399 shares valued at approximately $60.1 million.
• The company recently announced a $0.37 quarterly dividend, with an annualized yield of 3.8% and a dividend payout ratio of 52.30%.
• In its latest earnings report, United Bankshares exceeded expectations with an EPS of $0.85, compared to the consensus estimate of $0.77, and reported a revenue of $306 million for the quarter.

Northern Trust Corp lessened its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 2.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,734,399 shares of the financial services provider's stock after selling 39,619 shares during the period. Northern Trust Corp owned about 1.21% of United Bankshares worth $60,132,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in UBSI. Farther Finance Advisors LLC grew its position in shares of United Bankshares by 726.5% during the 1st quarter. Farther Finance Advisors LLC now owns 967 shares of the financial services provider's stock worth $33,000 after purchasing an additional 850 shares in the last quarter. Meeder Asset Management Inc. grew its position in shares of United Bankshares by 144.2% during the 1st quarter. Meeder Asset Management Inc. now owns 1,155 shares of the financial services provider's stock worth $40,000 after purchasing an additional 682 shares in the last quarter. CWM LLC grew its position in shares of United Bankshares by 226.9% during the 1st quarter. CWM LLC now owns 1,651 shares of the financial services provider's stock worth $57,000 after purchasing an additional 1,146 shares in the last quarter. Fifth Third Bancorp grew its position in shares of 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 purchasing an additional 522 shares in the last quarter. Finally, Hughes Financial Services LLC acquired a new position in shares of United Bankshares during the 1st quarter worth approximately $60,000. Institutional investors and hedge funds own 70.80% of the company's stock.

Wall Street Analyst Weigh In

UBSI has been the topic of a number of analyst reports. Zacks Research upgraded shares of United Bankshares to a "hold" rating in a research report on Friday, August 8th. Wall Street Zen cut shares of 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, According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $40.50.

United Bankshares Trading Down 0.3%

Shares of United Bankshares stock traded down $0.12 on Friday, hitting $38.34. The stock had a trading volume of 512,627 shares, compared to its average volume of 612,900. The stock has a 50 day moving average of $37.05 and a 200 day moving average of $35.80. United Bankshares, Inc. has a twelve month low of $30.50 and a twelve month high of $44.43. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market capitalization of $5.43 billion, a P/E ratio of 13.55 and a beta of 0.79.

United Bankshares (NASDAQ:UBSI - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 7.65% and a net margin of 23.14%.During the same quarter in the prior year, the firm posted $0.71 earnings per share. Sell-side analysts expect that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.48 annualized dividend and a dividend yield of 3.9%. United Bankshares's dividend payout ratio (DPR) is 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.