United Bankshares, Inc. (NASDAQ:UBSI) Shares Acquired by US Bancorp DE

Key Points

• US Bancorp DE increased its stake in United Bankshares, Inc. by 68.8%, owning a total of 35,624 shares worth approximately $1.24 million.
• Wall Street analysts have downgraded United Bankshares from a "hold" to a "sell" rating, with Keefe, Bruyette & Woods lowering their target price from $42.00 to $40.00.
• United Bankshares has declared a quarterly dividend of $0.37 per share, representing an annualized dividend of $1.48 and a yield of 4.1%.

US Bancorp DE raised its position in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 68.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 35,624 shares of the financial services provider's stock after buying an additional 14,516 shares during the period. US Bancorp DE's holdings in United Bankshares were worth $1,235,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of UBSI. Earnest Partners LLC boosted its holdings in shares of United Bankshares by 0.7% during the 4th quarter. Earnest Partners LLC now owns 4,199,136 shares of the financial services provider's stock worth $157,678,000 after purchasing an additional 29,898 shares during the last quarter. Northern Trust Corp raised its position in shares of United Bankshares by 13.7% during the 4th quarter. Northern Trust Corp now owns 1,774,018 shares of the financial services provider's stock valued at $66,614,000 after buying an additional 213,441 shares during the period. ProShare Advisors LLC raised its position in shares of United Bankshares by 3.9% during 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 buying an additional 41,819 shares during the period. Invesco Ltd. raised its position in shares of United Bankshares by 7.3% during the 4th quarter. Invesco Ltd. now owns 900,377 shares of the financial services provider's stock valued at $33,809,000 after buying an additional 61,109 shares during the period. Finally, Rhumbline Advisers raised its position in shares of United Bankshares by 0.8% during the 1st quarter. Rhumbline Advisers now owns 458,823 shares of the financial services provider's stock valued at $15,907,000 after buying an additional 3,666 shares during the period. 70.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on UBSI shares. Wall Street Zen lowered 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 price target on shares of 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.

United Bankshares Trading Up 3.3%

NASDAQ UBSI traded up $1.20 on Tuesday, reaching $37.08. The stock had a trading volume of 765,372 shares, compared to its average volume of 794,405. The firm has a market capitalization of $5.27 billion, a price-to-earnings ratio of 13.10 and a beta of 0.79. 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, Inc. has a 12-month low of $30.50 and a 12-month high of $44.43. The stock has a fifty day moving average price of $36.47 and a two-hundred day moving average price of $35.84.

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

United Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were paid a $0.37 dividend. The ex-dividend date was Friday, June 13th. This represents a $1.48 annualized dividend and a dividend yield of 4.0%. United Bankshares's payout ratio is 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.