Northern Trust Corp Has $60.13 Million Stock Holdings in 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 reduced its holdings in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 2.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,734,399 shares of the financial services provider's stock after selling 39,619 shares during the quarter. Northern Trust Corp owned 1.21% of United Bankshares worth $60,132,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of UBSI. Brighton Jones LLC increased its holdings in shares of United Bankshares by 4.6% in the fourth quarter. Brighton Jones LLC now owns 16,873 shares of the financial services provider's stock worth $634,000 after acquiring an additional 748 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of United Bankshares by 2.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 12,432 shares of the financial services provider's stock worth $467,000 after acquiring an additional 327 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of United Bankshares by 134.6% in the fourth quarter. Hsbc Holdings PLC now owns 25,202 shares of the financial services provider's stock worth $948,000 after acquiring an additional 14,460 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of United Bankshares by 8.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 106,262 shares of the financial services provider's stock worth $3,991,000 after acquiring an additional 8,525 shares in the last quarter. Finally, Tudor Investment Corp ET AL bought a new stake in shares of United Bankshares in the fourth quarter worth about $202,000. 70.80% of the stock is currently owned by institutional investors.

United Bankshares Stock Down 0.3%

Shares of NASDAQ:UBSI traded down $0.12 during mid-day trading on Monday, reaching $38.34. 512,627 shares of the stock were exchanged, compared to its average volume of 599,401. 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 company has a market cap of $5.43 billion, a P/E ratio of 13.55 and a beta of 0.82. United Bankshares, Inc. has a one year low of $30.50 and a one year high of $44.43. The stock's 50 day simple moving average is $37.10 and its 200-day simple moving average is $35.77.

United Bankshares (NASDAQ:UBSI - Get Free Report) last posted its quarterly earnings data 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 business 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 period last year, the company earned $0.71 earnings per share. As a group, equities research analysts predict that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors 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 yield of 3.9%. United Bankshares's dividend payout ratio is 52.30%.

Analysts Set New Price Targets

UBSI has been the subject of several recent analyst reports. Wall Street Zen downgraded United Bankshares from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Zacks Research upgraded United Bankshares to a "hold" rating in a report on Friday, August 8th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $40.50.

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.