Raymond James Financial Inc. Sells 8,296 Shares of 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. trimmed its stake in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 2.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 389,771 shares of the financial services provider's stock after selling 8,296 shares during the period. Raymond James Financial Inc. owned about 0.27% of United Bankshares worth $13,512,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in UBSI. Nuveen LLC acquired a new stake in shares of United Bankshares during the 1st quarter valued at about $28,526,000. Northern Trust Corp boosted its position in shares of United Bankshares by 13.7% during 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of United Bankshares by 52.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 381,062 shares of the financial services provider's stock valued at $14,309,000 after acquiring an additional 130,444 shares in the last quarter. Dover Advisors LLC acquired a new position in United Bankshares in the first quarter valued at about $3,015,000. Finally, Invesco Ltd. boosted its position in United Bankshares by 8.9% in the first quarter. Invesco Ltd. now owns 980,553 shares of the financial services provider's stock valued at $33,996,000 after buying an additional 80,176 shares in the last quarter. 70.80% of the stock is currently owned by institutional investors and hedge funds.

United Bankshares Trading Down 0.9%

UBSI traded down $0.33 during mid-day trading on Tuesday, hitting $38.01. The stock had a trading volume of 445,856 shares, compared to its average volume of 775,983. The stock's fifty day simple moving average is $37.10 and its 200-day simple moving average is $35.77. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market capitalization of $5.38 billion, a price-to-earnings ratio of 13.43 and a beta of 0.82. United Bankshares, Inc. has a 1-year low of $30.50 and a 1-year high of $44.43.

United Bankshares (NASDAQ:UBSI - Get Free Report) last posted its earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.08. The company had revenue of $306.00 million for the quarter, compared to analyst estimates of $297.98 million. United Bankshares had a net margin of 23.14% and a return on equity of 7.65%. During the same period last year, the business posted $0.71 earnings per share. As a group, research analysts forecast that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Dividend Announcement

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 is currently 52.30%.

Analyst Ratings Changes

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

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.