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

Bank of New York Mellon Corp lowered its stake in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 1.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm 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 approximately 0.96% of United Bankshares worth $47,549,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of UBSI. Strategic Blueprint LLC bought a new stake in shares of United Bankshares during the 1st quarter worth $350,000. Principal Financial Group Inc. boosted its position in United Bankshares by 6.7% during the first quarter. Principal Financial Group Inc. now owns 330,223 shares of the financial services provider's stock valued at $11,449,000 after acquiring an additional 20,600 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in United Bankshares by 5.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 29,012 shares of the financial services provider's stock valued at $1,006,000 after acquiring an additional 1,600 shares during the last quarter. Teacher Retirement System of Texas boosted its position in United Bankshares by 1.8% during the first quarter. Teacher Retirement System of Texas now owns 20,813 shares of the financial services provider's stock valued at $722,000 after acquiring an additional 371 shares during the last quarter. Finally, NovaPoint Capital LLC acquired a new position in shares of United Bankshares during the first quarter valued at about $457,000. Institutional investors own 70.80% of the company's stock.

United Bankshares Stock Performance

UBSI traded up $0.24 during midday trading on Thursday, reaching $36.97. The company had a trading volume of 98,189 shares, compared to its average volume of 667,551. The stock has a market cap of $5.25 billion, a PE ratio of 13.73 and a beta of 0.76. 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 business has a 50-day moving average price of $36.57 and a two-hundred day moving average price of $36.03. United Bankshares, Inc. has a 12-month low of $30.51 and a 12-month high of $44.43.

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

United Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date was Friday, June 13th. United Bankshares's payout ratio is 55.02%.

Analyst Ratings Changes

UBSI has been the topic of a number of research analyst reports. Wall Street Zen cut shares of United Bankshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Keefe, Bruyette & Woods reduced their target price on United Bankshares from $42.00 to $40.00 and set a "market perform" rating for the company in a report on Monday, April 28th. 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, the company currently has a consensus rating of "Hold" and a consensus price target of $40.63.

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.