Profund Advisors LLC reduced its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 17.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,471 shares of the financial services provider’s stock after selling 3,227 shares during the quarter. Profund Advisors LLC’s holdings in United Bankshares were worth $606,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of UBSI. US Bancorp DE grew its stake in United Bankshares by 9.1% during the 1st quarter. US Bancorp DE now owns 20,847 shares of the financial services provider’s stock worth $880,000 after buying an additional 1,743 shares during the last quarter. Bank of New York Mellon Corp grew its stake in United Bankshares by 6.8% during the 1st quarter. Bank of New York Mellon Corp now owns 1,103,749 shares of the financial services provider’s stock worth $46,633,000 after buying an additional 70,392 shares during the last quarter. LS Investment Advisors LLC grew its stake in United Bankshares by 9.7% during the 1st quarter. LS Investment Advisors LLC now owns 2,766 shares of the financial services provider’s stock worth $117,000 after buying an additional 244 shares during the last quarter. World Asset Management Inc grew its stake in United Bankshares by 10.5% during the 1st quarter. World Asset Management Inc now owns 5,058 shares of the financial services provider’s stock worth $214,000 after buying an additional 482 shares during the last quarter. Finally, UBS Asset Management Americas Inc. grew its stake in United Bankshares by 45.7% during the 1st quarter. UBS Asset Management Americas Inc. now owns 48,792 shares of the financial services provider’s stock worth $2,061,000 after buying an additional 15,308 shares during the last quarter. Hedge funds and other institutional investors own 62.25% of the company’s stock.

United Bankshares, Inc. (NASDAQ:UBSI) opened at 37.10 on Thursday. The company has a market cap of $3.89 billion, a PE ratio of 19.85 and a beta of 1.05. The stock has a 50 day moving average price of $33.65 and a 200 day moving average price of $38.26. United Bankshares, Inc. has a 1-year low of $31.70 and a 1-year high of $49.35.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.14). United Bankshares had a net margin of 25.20% and a return on equity of 6.42%. The business had revenue of $176.75 million for the quarter, compared to analyst estimates of $164.09 million. During the same period in the prior year, the business earned $0.44 earnings per share. Equities analysts forecast that United Bankshares, Inc. will post $1.92 earnings per share for the current year.

United Bankshares announced that its board has authorized a share buyback plan on Monday, August 28th that allows the company to buyback 2,000,000 shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.32 dividend on an annualized basis and a yield of 3.64%. United Bankshares’s dividend payout ratio is 69.47%.

UBSI has been the subject of a number of recent research reports. BidaskClub downgraded United Bankshares from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 19th. Zacks Investment Research cut United Bankshares from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. United Bankshares has a consensus rating of “Hold” and a consensus target price of $42.63.

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In other United Bankshares news, President Richard M. Adams, Jr. purchased 2,342 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was purchased at an average cost of $33.25 per share, with a total value of $77,871.50. Following the acquisition, the president now directly owns 51,867 shares of the company’s stock, valued at approximately $1,724,577.75. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider William Mark Tatterson purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were acquired at an average cost of $32.30 per share, with a total value of $32,300.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 15,247 shares of company stock valued at $510,526 over the last ninety days. Insiders own 6.23% of the company’s stock.

United Bankshares Company Profile

United Bankshares, Inc (United) is a bank holding company. The Company operates through community banking segment. United’s Banking Subsidiaries offer a range of commercial and retail banking services and products. United, through its subsidiaries, engages in community banking and offers banking products and services permitted by law and regulation.

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Institutional Ownership by Quarter for United Bankshares (NASDAQ:UBSI)

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