Keybank National Association OH Sells 3,303 Shares of United Bankshares, Inc. $UBSI

Keybank National Association OH reduced its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 16.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,764 shares of the financial services provider’s stock after selling 3,303 shares during the quarter. Keybank National Association OH’s holdings in United Bankshares were worth $611,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Earnest Partners LLC increased its holdings in shares of United Bankshares by 0.4% in the first quarter. Earnest Partners LLC now owns 4,214,634 shares of the financial services provider’s stock worth $146,121,000 after acquiring an additional 15,498 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of United Bankshares by 1.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,733,488 shares of the financial services provider’s stock worth $60,100,000 after acquiring an additional 22,900 shares in the last quarter. Invesco Ltd. increased its holdings in shares of United Bankshares by 8.9% in the first quarter. Invesco Ltd. now owns 980,553 shares of the financial services provider’s stock worth $33,996,000 after acquiring an additional 80,176 shares in the last quarter. Nuveen LLC bought a new stake in shares of United Bankshares in the first quarter worth about $28,526,000. Finally, Systematic Financial Management LP increased its holdings in shares of United Bankshares by 5.9% in the first quarter. Systematic Financial Management LP now owns 423,479 shares of the financial services provider’s stock worth $14,682,000 after acquiring an additional 23,747 shares in the last quarter. 70.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

UBSI has been the subject of several recent analyst reports. Piper Sandler set a $42.50 price target on United Bankshares and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Weiss Ratings restated a “hold (c)” rating on shares of United Bankshares in a report on Thursday, October 30th. Finally, Zacks Research upgraded United Bankshares to a “hold” rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $41.83.

United Bankshares Price Performance

Shares of UBSI opened at $36.01 on Tuesday. The company has a market cap of $5.10 billion, a price-to-earnings ratio of 11.81 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’s fifty day simple moving average is $37.02 and its 200 day simple moving average is $36.53. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.10.

United Bankshares (NASDAQ:UBSI) last issued its earnings results on Thursday, October 23rd. The financial services provider reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.10. The business had revenue of $324.10 million for the quarter, compared to the consensus estimate of $307.78 million. United Bankshares had a net margin of 24.37% and a return on equity of 8.15%. During the same period in the previous year, the company earned $0.70 earnings per share. On average, research analysts forecast that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

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

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.