Dynamic Technology Lab Private Ltd Lowers Stock Position in United Bankshares, Inc. $UBSI

Key Points

• Dynamic Technology Lab Private Ltd reduced its holdings in United Bankshares by 39.7%, selling 14,153 shares and now owning 21,480 shares valued at $745,000.
• The firm's quarterly earnings beat estimates, reporting $0.85 EPS compared to the consensus of $0.77, with revenue of $306 million exceeding expectations of $297.98 million.
• United Bankshares declared a $0.37 quarterly dividend, which will be paid on October 1st, reflecting an annualized yield of 3.9%.

Dynamic Technology Lab Private Ltd reduced its position in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 39.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,480 shares of the financial services provider's stock after selling 14,153 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in United Bankshares were worth $745,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Cerity Partners LLC boosted its stake in United Bankshares by 0.8% during the first quarter. Cerity Partners LLC now owns 42,211 shares of the financial services provider's stock worth $1,463,000 after acquiring an additional 346 shares in the last quarter. Teacher Retirement System of Texas boosted its stake 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 worth $722,000 after acquiring an additional 371 shares in the last quarter. Captrust Financial Advisors boosted its stake in United Bankshares by 0.7% during the fourth quarter. Captrust Financial Advisors now owns 73,655 shares of the financial services provider's stock worth $2,766,000 after acquiring an additional 510 shares in the last quarter. 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 worth $59,000 after acquiring an additional 522 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its stake in United Bankshares by 0.5% during the first quarter. New York State Teachers Retirement System now owns 133,107 shares of the financial services provider's stock worth $4,615,000 after acquiring an additional 600 shares in the last quarter. 70.80% of the stock is owned by institutional investors.

Analysts Set New Price Targets

UBSI has been the topic of several research analyst reports. Wall Street Zen lowered shares of United Bankshares from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Zacks Research raised shares of United Bankshares to a "hold" rating in a research note on Friday, August 8th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, United Bankshares presently has an average rating of "Hold" and an average target price of $40.50.

United Bankshares Stock Down 1.7%

Shares of United Bankshares stock traded down $0.66 during trading hours on Friday, reaching $37.43. The company's stock had a trading volume of 322,803 shares, compared to its average volume of 472,138. United Bankshares, Inc. has a one year low of $30.50 and a one year high of $44.43. The company has a market capitalization of $5.30 billion, a P/E ratio of 13.23 and a beta of 0.82. The stock's fifty day simple moving average is $37.26 and its two-hundred day simple moving average is $35.87. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98.

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

United Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be issued a $0.37 dividend. The ex-dividend date is Friday, September 12th. This represents a $1.48 annualized dividend and a dividend yield of 4.0%. United Bankshares's dividend payout ratio is currently 52.30%.

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.