Raymond James Financial Inc. Decreases Stake in United Bankshares, Inc. $UBSI

Key Points

• Raymond James Financial Inc. reduced its stake in United Bankshares, Inc. by 2.1%, owning approximately 0.27% of the company, valued at $13.5 million after selling 8,296 shares.
• United Bankshares reported an EPS of $0.85 for the latest quarter, exceeding analysts' estimates of $0.77, with a net margin of 23.14% and revenue of $306 million.
• The company announced a quarterly dividend of $0.37 per share, translating to an annualized yield of 3.9%, with the payout set for October 1st.

Raymond James Financial Inc. lowered its position in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 2.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 389,771 shares of the financial services provider's stock after selling 8,296 shares during the quarter. Raymond James Financial Inc. owned 0.27% of United Bankshares worth $13,512,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of UBSI. Farther Finance Advisors LLC lifted its stake in United Bankshares by 726.5% in 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 valued at $40,000 after purchasing an additional 682 shares in the last quarter. CWM LLC increased its holdings in shares of United Bankshares by 226.9% in the first 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 during the period. Fifth Third Bancorp boosted its stake in United Bankshares by 44.4% during the first quarter. Fifth Third Bancorp now owns 1,699 shares of the financial services provider's stock valued at $59,000 after buying an additional 522 shares during the period. Finally, Hughes Financial Services LLC purchased a new position in United Bankshares during the first quarter worth about $60,000. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

United Bankshares Trading Up 1.6%

NASDAQ UBSI traded up $0.60 on Thursday, hitting $38.65. 397,643 shares of the stock were exchanged, compared to its average volume of 544,640. 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 $5.47 billion, a P/E ratio of 13.66 and a beta of 0.82. United Bankshares, Inc. has a 52-week low of $30.50 and a 52-week high of $44.43. The stock has a fifty day moving average price of $37.21 and a two-hundred day moving average price of $35.81.

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 7.65% and a net margin of 23.14%.During the same period last year, the company earned $0.71 EPS. Research analysts forecast that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.8%. The ex-dividend date is Friday, September 12th. United Bankshares's dividend payout ratio (DPR) is 52.30%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on UBSI shares. Wall Street Zen lowered shares of 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 research report on Friday, August 8th. Four analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $40.50.

United Bankshares Company 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.