Victory Capital Management Inc. Sells 303,130 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Victory Capital Management Inc. lowered its position in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 7.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,578,055 shares of the financial services provider's stock after selling 303,130 shares during the quarter. Victory Capital Management Inc. owned approximately 2.49% of United Bankshares worth $124,051,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in UBSI. Jones Financial Companies Lllp raised its position in shares of United Bankshares by 55.8% during the fourth quarter. Jones Financial Companies Lllp now owns 866 shares of the financial services provider's stock worth $33,000 after acquiring an additional 310 shares during the last quarter. Farther Finance Advisors LLC increased its holdings 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 last quarter. Nomura Asset Management Co. Ltd. increased its holdings in United Bankshares by 37.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,480 shares of the financial services provider's stock valued at $56,000 after purchasing an additional 400 shares during the last quarter. CWM LLC increased its holdings in United Bankshares by 226.9% in the first 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. Finally, Fifth Third Bancorp increased its holdings in United Bankshares by 44.4% in the first quarter. Fifth Third Bancorp now owns 1,699 shares of the financial services provider's stock valued at $59,000 after purchasing an additional 522 shares during the last quarter. Institutional investors own 70.80% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on UBSI shares. Keefe, Bruyette & Woods dropped their price objective on United Bankshares from $42.00 to $40.00 and set a "market perform" rating for the company in a report on Monday, April 28th. Wall Street Zen downgraded United Bankshares from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company's stock. Based on data from MarketBeat.com, United Bankshares has a consensus rating of "Hold" and an average price target of $40.63.

United Bankshares Trading Down 0.5%

NASDAQ UBSI traded down $0.18 on Friday, reaching $37.30. The company had a trading volume of 2,669,971 shares, compared to its average volume of 677,338. The stock's 50 day moving average is $36.61 and its 200-day moving average is $36.03. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 13.87 and a beta of 0.76. 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 52 week low of $30.51 and a 52 week high of $44.43.

United Bankshares (NASDAQ:UBSI - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.07). United Bankshares had a return on equity of 7.36% and a net margin of 22.35%. The business had revenue of $289.61 million during the quarter, compared to the consensus estimate of $279.02 million. During the same quarter last year, the company earned $0.64 earnings per share. The firm's revenue was up 13.7% compared to the same quarter last year. Equities analysts predict that United Bankshares, Inc. will post 2.81 earnings per share for the current 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 issued a $0.37 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.48 annualized dividend and a dividend yield of 3.97%. United Bankshares's dividend payout ratio (DPR) is currently 55.02%.

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.