GW&K Investment Management LLC reduced its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 21.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 603,881 shares of the financial services provider’s stock after selling 164,723 shares during the quarter. GW&K Investment Management LLC owned 0.58% of United Bankshares worth $20,985,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of United Bankshares by 9.2% during the 2nd quarter. BlackRock Inc. now owns 13,701,878 shares of the financial services provider’s stock worth $537,113,000 after purchasing an additional 1,150,017 shares in the last quarter. State Street Corp grew its holdings in shares of United Bankshares by 31.2% during the 2nd quarter. State Street Corp now owns 10,855,612 shares of the financial services provider’s stock worth $425,538,000 after purchasing an additional 2,578,520 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of United Bankshares by 20.7% during the 2nd quarter. Vanguard Group Inc. now owns 8,674,789 shares of the financial services provider’s stock worth $340,052,000 after purchasing an additional 1,488,580 shares in the last quarter. Northern Trust Corp grew its holdings in shares of United Bankshares by 60.3% during the 2nd quarter. Northern Trust Corp now owns 2,939,523 shares of the financial services provider’s stock worth $115,229,000 after purchasing an additional 1,105,697 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of United Bankshares by 2.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,934,748 shares of the financial services provider’s stock worth $109,027,000 after purchasing an additional 57,657 shares in the last quarter. 65.51% of the stock is currently owned by institutional investors.
Shares of United Bankshares, Inc. (UBSI) opened at $36.80 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.46. United Bankshares, Inc. has a 1 year low of $31.70 and a 1 year high of $46.35. The firm has a market capitalization of $3,805.98, a price-to-earnings ratio of 19.37, a P/E/G ratio of 1.48 and a beta of 1.05.
United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.01). United Bankshares had a return on equity of 6.25% and a net margin of 24.94%. The business had revenue of $188.51 million for the quarter, compared to the consensus estimate of $193.87 million. During the same quarter in the prior year, the company earned $0.54 earnings per share. United Bankshares’s quarterly revenue was up 44.9% compared to the same quarter last year. analysts predict that United Bankshares, Inc. will post 1.9 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 8th were given a dividend of $0.34 per share. This is an increase from United Bankshares’s previous quarterly dividend of $0.33. This represents a $1.36 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend was Thursday, December 7th. United Bankshares’s dividend payout ratio is currently 71.58%.
Several analysts recently weighed in on the company. Zacks Investment Research upgraded United Bankshares from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research report on Saturday, January 13th. Sandler O’Neill set a $38.00 price objective on United Bankshares and gave the stock a “hold” rating in a research report on Thursday, January 4th. BidaskClub downgraded United Bankshares from a “hold” rating to a “sell” rating in a research report on Thursday, January 4th. Finally, Boenning Scattergood restated a “hold” rating on shares of United Bankshares in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a strong buy rating to the company’s stock. United Bankshares currently has an average rating of “Hold” and a consensus price target of $42.25.
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About United Bankshares
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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