FNY Investment Advisers LLC Cuts Stake in United Bankshares, Inc. $UBSI

FNY Investment Advisers LLC trimmed its position in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 15.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,600 shares of the financial services provider’s stock after selling 300 shares during the period. FNY Investment Advisers LLC’s holdings in United Bankshares were worth $58,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of UBSI. Ameritas Advisory Services LLC purchased a new stake in United Bankshares during the 2nd quarter valued at about $25,000. Signaturefd LLC grew its position in United Bankshares by 2,281.0% during the 2nd quarter. Signaturefd LLC now owns 1,000 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 958 shares during the last quarter. Meeder Asset Management Inc. grew its position in United Bankshares by 144.2% during the 1st quarter. Meeder Asset Management Inc. now owns 1,155 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 682 shares during the last quarter. CWM LLC grew its position in United Bankshares by 226.9% during the 1st quarter. CWM LLC now owns 1,651 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 1,146 shares during the last quarter. Finally, Hughes Financial Services LLC purchased a new stake in United Bankshares during the 1st quarter valued at about $60,000. 70.80% of the stock is owned by hedge funds and other institutional investors.

United Bankshares Stock Performance

Shares of NASDAQ UBSI opened at $35.15 on Friday. The firm’s 50-day moving average price is $37.20 and its 200-day moving average price is $36.28. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.10. The company has a market cap of $4.98 billion, a PE ratio of 12.42 and a beta of 0.76. United Bankshares, Inc. has a 52-week low of $30.50 and a 52-week high of $44.43.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.10. United Bankshares had a net margin of 23.14% and a return on equity of 7.65%. During the same quarter in the prior year, the firm posted $0.70 EPS. As a group, analysts anticipate that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 12th were issued a $0.37 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.2%. United Bankshares’s dividend payout ratio (DPR) is presently 52.30%.

Analysts Set New Price Targets

Several analysts recently commented on UBSI shares. Zacks Research raised shares of United Bankshares to a “hold” rating in a research report on Friday, August 8th. Piper Sandler set a $42.50 price target on shares of United Bankshares and gave the company an “overweight” rating in a report on Thursday. Finally, Weiss Ratings downgraded shares of United Bankshares from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, United Bankshares has an average rating of “Hold” and a consensus price target of $41.83.

United Bankshares 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.