Vanguard Group Inc. Has $495.74 Million Stock Holdings in United Bankshares, Inc. $UBSI

Key Points

• Vanguard Group Inc. reduced its stake in United Bankshares by 0.1% in Q1, holding approximately 14.3 million shares valued at around $495.7 million.
• Analysts show mixed opinions on United Bankshares, with one firm downgrading the stock from "hold" to "sell," while others indicate a "hold" rating with an average target price of $40.50.
• United Bankshares' stock fell 2.2% in trading, reaching $36.89, while the company announced better-than-expected earnings per share of $0.85, exceeding forecasts.

Vanguard Group Inc. cut its holdings in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 0.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,298,754 shares of the financial services provider's stock after selling 11,808 shares during the period. Vanguard Group Inc. owned about 9.97% of United Bankshares worth $495,738,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its position in United Bankshares by 726.5% in the first quarter. Farther Finance Advisors LLC now owns 967 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 850 shares during the period. Meeder Asset Management Inc. increased its stake in shares of United Bankshares by 144.2% during the 1st quarter. Meeder Asset Management Inc. now owns 1,155 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 682 shares during the last quarter. CWM LLC boosted its holdings in shares of United Bankshares by 226.9% in the 1st quarter. CWM LLC now owns 1,651 shares of the financial services provider's stock valued at $57,000 after purchasing an additional 1,146 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of 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 buying an additional 522 shares during the last quarter. Finally, Hughes Financial Services LLC acquired a new stake in shares of United Bankshares during the 1st quarter worth $60,000. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on UBSI. Keefe, Bruyette & Woods dropped their price objective on shares of United Bankshares from $42.00 to $40.00 and set a "market perform" rating for the company in a research report on Monday, April 28th. Wall Street Zen downgraded shares of United Bankshares from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Finally, Zacks Research raised shares of United Bankshares to a "hold" rating in a research report on Friday, August 8th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $40.50.

United Bankshares Stock Performance

UBSI stock traded up $0.04 during midday trading on Tuesday, reaching $37.25. The company had a trading volume of 59,531 shares, compared to its average volume of 785,250. United Bankshares, Inc. has a fifty-two week low of $30.50 and a fifty-two week high of $44.43. The firm has a market capitalization of $5.28 billion, a PE ratio of 13.16 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. The stock has a 50 day moving average price of $36.60 and a 200 day moving average price of $35.80.

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 for the quarter, beating the consensus estimate of $0.77 by $0.08. The firm had revenue of $306.00 million for the quarter, compared to the consensus estimate 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 business earned $0.71 EPS. Analysts anticipate that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

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.