United Bankshares, Inc. (NASDAQ:UBSI) Stock Position Lowered by Family Asset Management LLC

Family Asset Management LLC decreased its position in United Bankshares, Inc. (NASDAQ:UBSI) by 1.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 40,220 shares of the financial services provider’s stock after selling 463 shares during the period. United Bankshares comprises about 1.0% of Family Asset Management LLC’s investment portfolio, making the stock its 22nd biggest holding. Family Asset Management LLC’s holdings in United Bankshares were worth $1,510,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Bancorp raised its position in United Bankshares by 206.0% during the fourth quarter. Fifth Third Bancorp now owns 976 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 657 shares in the last quarter. Hexagon Capital Partners LLC boosted its holdings in United Bankshares by 449.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 1,345 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 1,100 shares in the last quarter. Key Financial Inc boosted its holdings in United Bankshares by 735.6% in the third quarter. Key Financial Inc now owns 1,830 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 1,611 shares in the last quarter. Anchor Investment Management LLC acquired a new position in United Bankshares during the fourth quarter worth $95,000. Finally, Covestor Ltd raised its holdings in United Bankshares by 133.7% during the third quarter. Covestor Ltd now owns 3,659 shares of the financial services provider’s stock valued at $101,000 after buying an additional 2,093 shares in the last quarter. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

UBSI has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lowered their price objective on United Bankshares from $40.00 to $38.00 and set a “market perform” rating on the stock in a report on Friday. Stephens dropped their price target on shares of United Bankshares from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $37.00.

United Bankshares Stock Performance

United Bankshares stock traded up $0.06 during mid-day trading on Monday, reaching $34.02. The company had a trading volume of 353,228 shares, compared to its average volume of 546,713. United Bankshares, Inc. has a 52 week low of $25.35 and a 52 week high of $38.74. The company has a 50 day moving average of $34.07 and a 200-day moving average of $34.28. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.36. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of 12.98 and a beta of 1.01.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). The company had revenue of $401.39 million during the quarter, compared to analyst estimates of $256.80 million. United Bankshares had a net margin of 22.51% and a return on equity of 7.72%. During the same period in the prior year, the business earned $0.74 EPS. On average, sell-side analysts expect that United Bankshares, Inc. will post 2.63 EPS for the current fiscal year.

United Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were given a $0.37 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.48 dividend on an annualized basis and a yield of 4.35%. United Bankshares’s payout ratio is 56.49%.

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.