Bank of New York Mellon Corp Decreases Position in United Bankshares, Inc. (NASDAQ:UBSI)

Bank of New York Mellon Corp cut its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 1.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,371,466 shares of the financial services provider's stock after selling 25,258 shares during the period. Bank of New York Mellon Corp owned 0.96% of United Bankshares worth $47,549,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in UBSI. Brighton Jones LLC increased its position in shares of United Bankshares by 4.6% during the fourth quarter. Brighton Jones LLC now owns 16,873 shares of the financial services provider's stock worth $634,000 after purchasing an additional 748 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of United Bankshares by 55.8% in the 4th quarter. Jones Financial Companies Lllp now owns 866 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 310 shares during the period. Raymond James Financial Inc. acquired a new stake in United Bankshares during the 4th quarter worth about $14,948,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in United Bankshares by 9.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,065 shares of the financial services provider's stock worth $1,204,000 after purchasing an additional 2,899 shares during the period. Finally, HighTower Advisors LLC grew its position in United Bankshares by 16.1% during the 4th quarter. HighTower Advisors LLC now owns 22,683 shares of the financial services provider's stock worth $852,000 after purchasing an additional 3,141 shares during the period. 70.80% of the stock is owned by institutional investors and hedge funds.

United Bankshares Price Performance

Shares of NASDAQ:UBSI traded up $0.75 during trading on Thursday, reaching $37.48. 946,013 shares of the company's stock traded hands, compared to its average volume of 669,368. United Bankshares, Inc. has a fifty-two week low of $30.51 and a fifty-two week high of $44.43. 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 firm has a market cap of $5.32 billion, a PE ratio of 13.93 and a beta of 0.76. The company has a 50-day simple moving average of $36.61 and a 200-day simple moving average of $36.03.

United Bankshares (NASDAQ:UBSI - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $0.66 by ($0.07). United Bankshares had a net margin of 22.35% and a return on equity of 7.36%. The business had revenue of $289.61 million for the quarter, compared to analyst estimates of $279.02 million. During the same quarter last year, the business earned $0.64 earnings per share. United Bankshares's revenue was up 13.7% on a year-over-year basis. As a group, analysts predict that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date was Friday, June 13th. United Bankshares's dividend payout ratio (DPR) is presently 55.02%.

Analysts Set New Price Targets

UBSI has been the topic of several analyst reports. Keefe, Bruyette & Woods cut their price target on United Bankshares from $42.00 to $40.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th. Wall Street Zen downgraded United Bankshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $40.63.

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.