Legal & General Group Plc trimmed its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 9.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 115,529 shares of the financial services provider’s stock after selling 11,548 shares during the period. Legal & General Group Plc owned about 0.11% of United Bankshares worth $4,206,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Millennium Management LLC purchased a new position in shares of United Bankshares during the 1st quarter worth approximately $7,919,000. Raymond James Financial Services Advisors Inc. raised its stake in shares of United Bankshares by 35.1% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 32,382 shares of the financial services provider’s stock worth $1,179,000 after buying an additional 8,408 shares in the last quarter. Swiss National Bank raised its stake in shares of United Bankshares by 5.2% during the 2nd quarter. Swiss National Bank now owns 182,782 shares of the financial services provider’s stock worth $6,653,000 after buying an additional 9,100 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of United Bankshares by 469.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 218,002 shares of the financial services provider’s stock worth $7,684,000 after buying an additional 179,690 shares in the last quarter. Finally, W.E. Donoghue & Co. LLC purchased a new position in shares of United Bankshares during the 2nd quarter worth approximately $473,000. 72.37% of the stock is owned by institutional investors and hedge funds.

In related news, Director Peter A. Converse sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $39.50, for a total value of $98,750.00. Following the completion of the transaction, the director now directly owns 471,810 shares of the company’s stock, valued at approximately $18,636,495. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter A. Converse sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $39.00, for a total value of $195,000.00. Following the completion of the transaction, the director now directly owns 474,310 shares of the company’s stock, valued at $18,498,090. The disclosure for this sale can be found here. Company insiders own 5.15% of the company’s stock.

A number of brokerages have recently issued reports on UBSI. BidaskClub raised United Bankshares from a “hold” rating to a “buy” rating in a research note on Saturday, September 8th. ValuEngine raised United Bankshares from a “sell” rating to a “hold” rating in a research note on Monday, July 30th. TheStreet raised United Bankshares from a “c+” rating to a “b-” rating in a research note on Wednesday, June 6th. Finally, Zacks Investment Research raised United Bankshares from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research note on Tuesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $39.33.

NASDAQ UBSI opened at $38.05 on Monday. United Bankshares, Inc. has a 1-year low of $33.40 and a 1-year high of $39.95. The company has a market capitalization of $3.95 billion, a P/E ratio of 20.03, a PEG ratio of 1.91 and a beta of 1.08. The company has a quick ratio of 1.03, a current ratio of 1.05 and a debt-to-equity ratio of 0.55.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Thursday, July 26th. The financial services provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.02. United Bankshares had a return on equity of 7.40% and a net margin of 24.38%. The firm had revenue of $185.13 million during the quarter, compared to the consensus estimate of $184.65 million. During the same period last year, the business posted $0.37 EPS. equities research analysts expect that United Bankshares, Inc. will post 2.49 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 14th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.57%. The ex-dividend date is Thursday, September 13th. United Bankshares’s payout ratio is currently 71.58%.

United Bankshares Profile

United Bankshares, Inc, a financial holding company, 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.

Recommended Story: How is a Moving Average Calculated?

Want to see what other hedge funds are holding UBSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Bankshares, Inc. (NASDAQ:UBSI).

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

Receive News & Ratings for United Bankshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Bankshares and related companies with MarketBeat.com's FREE daily email newsletter.