United Bankshares, Inc. $UBSI Shares Sold by Dynamic Technology Lab Private Ltd

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 decreased its position in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 39.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,480 shares of the financial services provider's stock after selling 14,153 shares during the period. Dynamic Technology Lab Private Ltd's holdings in United Bankshares were worth $745,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Cerity Partners LLC grew its position in shares of 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 during the last quarter. Teacher Retirement System of Texas boosted its stake in United Bankshares by 1.8% during the 1st quarter. Teacher Retirement System of Texas now owns 20,813 shares of the financial services provider's stock worth $722,000 after purchasing an additional 371 shares during the period. Captrust Financial Advisors boosted its stake in United Bankshares by 0.7% during the 4th quarter. Captrust Financial Advisors now owns 73,655 shares of the financial services provider's stock worth $2,766,000 after purchasing an additional 510 shares during the period. Fifth Third Bancorp grew its position in United Bankshares by 44.4% during the 1st quarter. Fifth Third Bancorp now owns 1,699 shares of the financial services provider's stock worth $59,000 after purchasing an additional 522 shares during the last quarter. Finally, New York State Teachers Retirement System increased its stake in United Bankshares by 0.5% in the first quarter. New York State Teachers Retirement System now owns 133,107 shares of the financial services provider's stock valued at $4,615,000 after purchasing an additional 600 shares during the period. 70.80% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Zacks Research upgraded shares of United Bankshares to a "hold" rating in a research note on Friday, August 8th. Wall Street Zen cut United Bankshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, United Bankshares currently has a consensus rating of "Hold" and a consensus price target of $40.50.

United Bankshares Trading Down 0.2%

Shares of United Bankshares stock opened at $38.21 on Tuesday. The firm has a market cap of $5.41 billion, a price-to-earnings ratio of 13.50 and a beta of 0.82. United Bankshares, Inc. has a 52-week low of $30.50 and a 52-week high of $44.43. The company's 50-day simple moving average is $37.28 and its 200-day simple moving average is $35.81. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.10.

United Bankshares (NASDAQ:UBSI - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.85 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.08. United Bankshares had a net margin of 23.14% and a return on equity of 7.65%. The firm had revenue of $306.00 million during the quarter, compared to the consensus estimate of $297.98 million. During the same quarter last year, the firm earned $0.71 earnings per share. As a group, equities research analysts anticipate that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be paid a $0.37 dividend. The ex-dividend date is Friday, September 12th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.9%. United Bankshares's payout ratio is 52.30%.

United Bankshares Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.