Segall Bryant & Hamill LLC Cuts Stock Position in United Bankshares, Inc. $UBSI

Key Points

• Segall Bryant & Hamill cut its United Bankshares position by 46.3% in the first quarter, selling 126,478 shares and retaining 146,514 shares worth approximately $6.1 million. Institutional investors and hedge funds collectively own 70.8% of UBSI.
• United Bankshares reported quarterly earnings of $0.95 per share, exceeding analyst expectations of $0.89, while revenue of $323.8 million also topped estimates. The stock recently traded at $48.91, near its 12-month high of $49.27.
• The company pays a quarterly dividend of $0.38 per share, equivalent to an annualized $1.52 dividend and a 3.1% yield. Analysts have a consensus “Hold” rating with an average price target of $47.80.

Segall Bryant & Hamill LLC trimmed its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 46.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 146,514 shares of the financial services provider's stock after selling 126,478 shares during the period. Segall Bryant & Hamill LLC owned 0.11% of United Bankshares worth $6,069,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of United Bankshares during the third quarter worth about $25,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of United Bankshares in the fourth quarter valued at about $26,000. Farther Finance Advisors LLC raised its holdings in shares of United Bankshares by 196.2% during the 4th quarter. Farther Finance Advisors LLC now owns 856 shares of the financial services provider's stock valued at $33,000 after buying an additional 567 shares during the period. Root Financial Partners LLC raised its holdings in shares of United Bankshares by 64.4% during the 1st quarter. Root Financial Partners LLC now owns 786 shares of the financial services provider's stock valued at $33,000 after buying an additional 308 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in United Bankshares by 528.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,175 shares of the financial services provider's stock worth $43,000 after acquiring an additional 988 shares in the last quarter. 70.80% of the stock is currently owned by institutional investors and hedge funds.

United Bankshares Trading Up 0.9%

UBSI opened at $48.91 on Tuesday. United Bankshares, Inc. has a 12-month low of $34.10 and a 12-month high of $49.27. 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 stock has a market capitalization of $6.74 billion, a PE ratio of 13.33 and a beta of 0.71. The firm's fifty day moving average price is $45.78 and its 200 day moving average price is $43.60.

United Bankshares (NASDAQ:UBSI - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.06. The company had revenue of $323.82 million during the quarter, compared to analyst estimates of $320.07 million. United Bankshares had a net margin of 27.97% and a return on equity of 9.39%. During the same period last year, the business earned $0.85 EPS. As a group, research analysts expect that United Bankshares, Inc. will post 3.71 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Friday, June 12th. United Bankshares's dividend payout ratio is 41.42%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on UBSI. Raymond James Financial increased their price objective on shares of United Bankshares from $49.00 to $50.00 and gave the company an "outperform" rating in a research report on Wednesday, July 1st. Hovde Group boosted their target price on shares of United Bankshares from $49.00 to $50.00 and gave the stock a "market perform" rating in a research report on Friday, July 24th. Keefe, Bruyette & Woods upped their target price on shares of United Bankshares from $46.00 to $48.00 and gave the company a "market perform" rating in a research note on Monday, July 27th. Wall Street Zen raised shares of United Bankshares from a "sell" rating to a "hold" rating in a report on Saturday, July 25th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of United Bankshares in a research note on Monday, July 6th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $47.80.

United Bankshares Profile

United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company's core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.

United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.