Nationwide Fund Advisors Sells 3,215 Shares of United Bankshares, Inc. (UBSI)
Nationwide Fund Advisors lessened its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 1.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 243,603 shares of the financial services provider’s stock after selling 3,215 shares during the quarter. Nationwide Fund Advisors owned approximately 0.23% of United Bankshares worth $9,050,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. raised its position in shares of United Bankshares by 9.2% in the 2nd quarter. BlackRock Inc. now owns 13,701,878 shares of the financial services provider’s stock valued at $537,113,000 after acquiring an additional 1,150,017 shares during the period. State Street Corp raised its position in shares of United Bankshares by 31.2% in the 2nd quarter. State Street Corp now owns 10,855,612 shares of the financial services provider’s stock valued at $425,538,000 after acquiring an additional 2,578,520 shares during the period. Vanguard Group Inc. raised its position in shares of United Bankshares by 20.7% in the 2nd quarter. Vanguard Group Inc. now owns 8,674,789 shares of the financial services provider’s stock valued at $340,052,000 after acquiring an additional 1,488,580 shares during the period. Northern Trust Corp raised its position in shares of United Bankshares by 60.3% in the 2nd quarter. Northern Trust Corp now owns 2,939,523 shares of the financial services provider’s stock valued at $115,229,000 after acquiring an additional 1,105,697 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of United Bankshares by 52.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,877,091 shares of the financial services provider’s stock valued at $112,787,000 after acquiring an additional 989,666 shares during the period. 65.56% of the stock is currently owned by institutional investors.
Shares of United Bankshares, Inc. (NASDAQ UBSI) opened at $35.70 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.04 and a current ratio of 1.06. The company has a market cap of $3,811.22, a P/E ratio of 19.10, a price-to-earnings-growth ratio of 1.90 and a beta of 1.05. United Bankshares, Inc. has a fifty-two week low of $31.70 and a fifty-two week high of $49.35.
United Bankshares (NASDAQ:UBSI) last announced its earnings results on Thursday, October 26th. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.01). The company had revenue of $188.51 million for the quarter, compared to analyst estimates of $193.87 million. United Bankshares had a return on equity of 6.25% and a net margin of 24.94%. The business’s quarterly revenue was up 44.9% on a year-over-year basis. During the same quarter last year, the business posted $0.54 earnings per share. equities analysts anticipate that United Bankshares, Inc. will post 1.92 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th will be issued 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 yield of 3.81%. The ex-dividend date is Thursday, December 7th. United Bankshares’s dividend payout ratio (DPR) is 69.47%.
United Bankshares announced that its Board of Directors has approved a stock repurchase program on Monday, August 28th that authorizes the company to buyback 2,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.
A number of analysts recently weighed in on UBSI shares. BidaskClub downgraded shares of United Bankshares from a “hold” rating to a “sell” rating in a research report on Thursday. Boenning Scattergood reiterated a “hold” rating on shares of United Bankshares in a research report on Friday, October 27th. Finally, Zacks Investment Research upgraded shares of United Bankshares from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. United Bankshares has a consensus rating of “Hold” and an average target price of $44.50.
In related news, Director Gary G. White bought 1,000 shares of the company’s stock in a transaction on Monday, September 11th. The shares were purchased at an average cost of $33.33 per share, for a total transaction of $33,330.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 6.23% of the company’s stock.
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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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