Axxcess Wealth Management LLC Sells 902 Shares of United Bankshares, Inc. $UBSI

Axxcess Wealth Management LLC lowered its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 1.1% in the second quarter, Holdings Channel reports. The fund owned 82,934 shares of the financial services provider’s stock after selling 902 shares during the quarter. Axxcess Wealth Management LLC’s holdings in United Bankshares were worth $3,021,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Cerity Partners LLC lifted its holdings in shares of United Bankshares by 0.8% in the first quarter. Cerity Partners LLC now owns 42,211 shares of the financial services provider’s stock worth $1,463,000 after acquiring an additional 346 shares during the last quarter. Lynx Investment Advisory lifted its holdings in shares of United Bankshares by 3.5% in the second quarter. Lynx Investment Advisory now owns 10,670 shares of the financial services provider’s stock worth $389,000 after acquiring an additional 356 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of United Bankshares by 1.8% in the first quarter. Teacher Retirement System of Texas now owns 20,813 shares of the financial services provider’s stock worth $722,000 after acquiring an additional 371 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of United Bankshares by 44.4% in the first quarter. Fifth Third Bancorp now owns 1,699 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 522 shares during the last quarter. Finally, New York State Teachers Retirement System lifted its holdings in shares of United Bankshares by 0.5% in the first quarter. New York State Teachers Retirement System now owns 133,107 shares of the financial services provider’s stock worth $4,615,000 after acquiring an additional 600 shares during the last quarter. Institutional investors own 70.80% of the company’s stock.

Wall Street Analyst Weigh In

UBSI has been the subject of a number of research reports. Zacks Research raised shares of United Bankshares to a “hold” rating in a report on Friday, August 8th. Weiss Ratings lowered shares of United Bankshares from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $40.50.

United Bankshares Stock Up 2.7%

Shares of NASDAQ UBSI opened at $37.06 on Wednesday. The company has a 50 day simple moving average of $37.36 and a 200 day simple moving average of $36.20. The firm has a market cap of $5.25 billion, a PE ratio of 13.10 and a beta of 0.76. United Bankshares, Inc. has a 1 year low of $30.50 and a 1 year high of $44.43. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.98.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.08. The business had revenue of $306.00 million during the quarter, compared to analyst estimates of $297.98 million. United Bankshares had a net margin of 23.14% and a return on equity of 7.65%. During the same quarter last year, the business earned $0.71 EPS. On average, research analysts forecast that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Friday, September 12th. United Bankshares’s dividend payout ratio is currently 52.30%.

United Bankshares Company Profile

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.