Victory Capital Management Inc. Trims Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

Victory Capital Management Inc. lowered its position in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 7.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,578,055 shares of the financial services provider's stock after selling 303,130 shares during the period. Victory Capital Management Inc. owned about 2.49% of United Bankshares worth $124,051,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in UBSI. Vanguard Group Inc. grew its position in United Bankshares by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 14,310,562 shares of the financial services provider's stock valued at $537,362,000 after buying an additional 115,681 shares during the period. Earnest Partners LLC boosted its position in United Bankshares by 0.7% during the fourth 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 period. Northern Trust Corp boosted its position in United Bankshares by 13.7% during the fourth quarter. Northern Trust Corp now owns 1,774,018 shares of the financial services provider's stock worth $66,614,000 after purchasing an additional 213,441 shares during the period. Norges Bank bought a new position in United Bankshares during the fourth quarter worth about $54,712,000. Finally, ProShare Advisors LLC boosted its position in United Bankshares by 3.9% during the fourth quarter. ProShare Advisors LLC now owns 1,123,987 shares of the financial services provider's stock worth $42,206,000 after purchasing an additional 41,819 shares during the period. Hedge funds and other institutional investors own 70.80% of the company's stock.

United Bankshares Trading Down 0.5%

Shares of United Bankshares stock traded down $0.18 on Friday, hitting $37.30. The stock had a trading volume of 2,669,971 shares, compared to its average volume of 677,933. 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 one year low of $30.51 and a one year high of $44.43. 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 stock's 50-day simple moving average is $36.64 and its two-hundred day simple moving average is $36.01.

United Bankshares (NASDAQ:UBSI - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.07). The company had revenue of $289.61 million during the quarter, compared to the consensus estimate of $279.02 million. United Bankshares had a net margin of 22.35% and a return on equity of 7.36%. The business's revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 EPS. As a group, sell-side analysts predict that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Announces Dividend

The company also recently announced 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 yield of 3.97%. United Bankshares's dividend payout ratio (DPR) is presently 55.02%.

Wall Street Analyst Weigh In

UBSI has been the subject of a number of analyst reports. 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 cut 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. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat, United Bankshares currently has a consensus rating of "Hold" and an average target price of $40.63.

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.