United Bankshares, Inc. $UBSI Shares Sold by MAI Capital Management

Key Points

• MAI Capital Management has significantly reduced its holdings in United Bankshares, Inc. by 80.8%, now owning only 2,245 shares worth $78,000 after selling 9,450 shares.
• Several institutional investors have made adjustments to their positions, with notable increases from the State of Alaska Department of Revenue (8.6% increase) and New York State Teachers Retirement System (0.5% increase).
• United Bankshares announced a quarterly dividend of $0.37 per share, which reflects an annual yield of 3.9%, and will be paid on October 1st to shareholders of record on September 12th.

MAI Capital Management lowered its position in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 80.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,245 shares of the financial services provider's stock after selling 9,450 shares during the period. MAI Capital Management's holdings in United Bankshares were worth $78,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Earnest Partners LLC raised its position in shares of United Bankshares by 0.4% in the first quarter. Earnest Partners LLC now owns 4,214,634 shares of the financial services provider's stock worth $146,121,000 after acquiring an additional 15,498 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of United Bankshares by 1.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,733,488 shares of the financial services provider's stock worth $60,100,000 after acquiring an additional 22,900 shares during the period. ProShare Advisors LLC grew its stake in United Bankshares by 3.9% in the 4th quarter. ProShare Advisors LLC now owns 1,123,987 shares of the financial services provider's stock valued at $42,206,000 after acquiring an additional 41,819 shares during the period. Invesco Ltd. grew its stake in United Bankshares by 8.9% in the 1st quarter. Invesco Ltd. now owns 980,553 shares of the financial services provider's stock valued at $33,996,000 after acquiring an additional 80,176 shares during the period. Finally, Nuveen LLC acquired a new stake in United Bankshares in the 1st quarter valued at $28,526,000. Institutional investors and hedge funds own 70.80% of the company's stock.

Wall Street Analysts Forecast Growth

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

United Bankshares Price Performance

Shares of NASDAQ UBSI traded up $0.05 during mid-day trading on Wednesday, reaching $37.83. The company's stock had a trading volume of 351,895 shares, compared to its average volume of 763,660. The stock has a 50-day moving average of $37.29 and a two-hundred day moving average of $35.82. The stock has a market capitalization of $5.36 billion, a P/E ratio of 13.37 and a beta of 0.82. 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, Inc. has a 1-year low of $30.50 and a 1-year high of $44.43.

United Bankshares (NASDAQ:UBSI - Get Free Report) last issued its earnings results 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. The business had revenue of $306.00 million during the quarter, compared to analysts' expectations of $297.98 million. United Bankshares had a net margin of 23.14% and a return on equity of 7.65%. During the same period in the prior year, the business earned $0.71 earnings per share. On average, equities research analysts anticipate that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Dividend Announcement

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

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.