United Bankshares, Inc. $UBSI Holdings Trimmed by ProShare Advisors LLC

ProShare Advisors LLC reduced its position in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 22.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 600,955 shares of the financial services provider’s stock after selling 174,593 shares during the period. ProShare Advisors LLC’s holdings in United Bankshares were worth $27,608,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of United Bankshares in the second quarter worth $925,212,000. Dimensional Fund Advisors LP raised its position in United Bankshares by 0.7% during the first quarter. Dimensional Fund Advisors LP now owns 7,661,331 shares of the financial services provider’s stock valued at $317,327,000 after buying an additional 56,808 shares during the period. Bank of America Corp DE lifted its stake in United Bankshares by 20.5% in the 1st quarter. Bank of America Corp DE now owns 1,631,894 shares of the financial services provider’s stock worth $67,593,000 after acquiring an additional 277,836 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in United Bankshares in the 2nd quarter worth about $60,968,000. Finally, First Trust Advisors LP lifted its stake in United Bankshares by 7.5% in the 1st quarter. First Trust Advisors LP now owns 570,961 shares of the financial services provider’s stock worth $23,649,000 after acquiring an additional 39,712 shares in the last quarter. Hedge funds and other institutional investors own 70.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Piper Sandler raised their price objective on United Bankshares from $51.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, October 26th. Wall Street Zen raised shares of United Bankshares from a “sell” rating to a “hold” rating in a research report on Sunday. Weiss Ratings reissued a “buy (b)” rating on shares of United Bankshares in a research report on Friday, October 2nd. Hovde Group raised their price target on shares of United Bankshares from $49.00 to $50.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of United Bankshares from $46.00 to $48.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $49.20.

Insiders Place Their Bets

In related news, Director Mark Nesselroad sold 3,200 shares of United Bankshares stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $46.42, for a total transaction of $148,544.00. Following the sale, the director directly owned 32,224 shares of the company’s stock, valued at $1,495,838.08. This trade represents a 9.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.16% of the stock is currently owned by company insiders.

United Bankshares Price Performance

NASDAQ UBSI opened at $48.22 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10. United Bankshares, Inc. has a 1 year low of $34.68 and a 1 year high of $49.62. The company has a fifty day simple moving average of $47.05 and a 200 day simple moving average of $44.77. The company has a market cap of $6.57 billion, a P/E ratio of 13.07 and a beta of 0.72.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.01. The company had revenue of $325.10 million for the quarter, compared to the consensus estimate of $327.23 million. United Bankshares had a return on equity of 9.37% and a net margin of 28.03%. During the same period last year, the business posted $0.92 earnings per share. On average, sell-side analysts predict that United Bankshares, Inc. will post 3.74 EPS for the current year.

United Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, September 11th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, September 11th. United Bankshares’s dividend payout ratio (DPR) is currently 41.19%.

United Bankshares Profile

United Bankshares, Inc is a financial holding company that operates through its subsidiary, United Bank. The company provides a broad range of banking and financial services to individuals, businesses, nonprofit organizations and government entities.

United Bank’s offerings include checking and savings accounts, certificates of deposit, residential and commercial real estate lending, consumer loans, commercial and industrial financing, treasury management and online and mobile banking.