United Bankshares, Inc. $UBSI Shares Sold by Bank of Montreal Can

Bank of Montreal Can reduced its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 4.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,842 shares of the financial services provider’s stock after selling 1,863 shares during the quarter. Bank of Montreal Can’s holdings in United Bankshares were worth $1,342,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Cerity Partners LLC lifted its stake in shares of United Bankshares by 0.8% in the 1st quarter. Cerity Partners LLC now owns 42,211 shares of the financial services provider’s stock valued at $1,463,000 after purchasing an additional 346 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in United Bankshares during the second quarter valued at $378,000. Focus Partners Wealth increased its holdings in United Bankshares by 178.6% in the first quarter. Focus Partners Wealth now owns 73,102 shares of the financial services provider’s stock valued at $2,534,000 after buying an additional 46,863 shares in the last quarter. Truist Financial Corp raised its position in shares of United Bankshares by 81.8% in the second quarter. Truist Financial Corp now owns 22,375 shares of the financial services provider’s stock worth $815,000 after acquiring an additional 10,069 shares during the period. Finally, Intech Investment Management LLC raised its position in shares of United Bankshares by 20.8% in the first quarter. Intech Investment Management LLC now owns 61,971 shares of the financial services provider’s stock worth $2,149,000 after acquiring an additional 10,668 shares during the period. 70.80% of the stock is owned by institutional investors and hedge funds.

United Bankshares Stock Down 0.1%

UBSI opened at $36.43 on Friday. The company has a market cap of $5.16 billion, a PE ratio of 11.94 and a beta of 0.83. United Bankshares, Inc. has a twelve month low of $30.50 and a twelve month high of $44.43. The company has a 50-day moving average price of $36.67 and a 200 day moving average price of $36.66. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.10.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.10. United Bankshares had a return on equity of 8.15% and a net margin of 24.37%.The company had revenue of $280.90 million for the quarter, compared to analysts’ expectations of $307.78 million. During the same period in the previous year, the firm posted $0.70 EPS. Sell-side analysts expect that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 12th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Friday, September 12th. United Bankshares’s payout ratio is presently 48.52%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on UBSI shares. Piper Sandler set a $42.50 target price on United Bankshares and gave the company an “overweight” rating in a research report on Thursday, October 23rd. Zacks Research upgraded United Bankshares to a “hold” rating in a research report on Friday, August 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of United Bankshares in a research report on Thursday, October 30th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, United Bankshares has an average rating of “Hold” and an average target price 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.