Commonwealth Financial Services LLC Lowers Stake in United Bankshares, Inc. (NASDAQ:UBSI)

Commonwealth Financial Services LLC lessened its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 61.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,235 shares of the financial services provider’s stock after selling 15,014 shares during the period. Commonwealth Financial Services LLC’s holdings in United Bankshares were worth $333,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Vaughan Nelson Investment Management L.P. boosted its holdings in United Bankshares by 14.8% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,311,291 shares of the financial services provider’s stock worth $46,931,000 after buying an additional 169,200 shares during the last quarter. SG Americas Securities LLC boosted its position in United Bankshares by 218.2% during the second quarter. SG Americas Securities LLC now owns 29,676 shares of the financial services provider’s stock worth $963,000 after acquiring an additional 20,350 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in United Bankshares by 77.8% in the 1st quarter. BNP Paribas Financial Markets now owns 69,932 shares of the financial services provider’s stock valued at $2,503,000 after acquiring an additional 30,590 shares during the last quarter. Ontario Teachers Pension Plan Board purchased a new position in United Bankshares in the 1st quarter worth approximately $901,000. Finally, State Board of Administration of Florida Retirement System grew its position in shares of United Bankshares by 37.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 51,455 shares of the financial services provider’s stock valued at $1,811,000 after purchasing an additional 14,080 shares in the last quarter. Institutional investors and hedge funds own 70.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on UBSI. Keefe, Bruyette & Woods upped their price target on United Bankshares from $38.00 to $40.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. Stephens raised their price objective on shares of United Bankshares from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. StockNews.com lowered United Bankshares from a “hold” rating to a “sell” rating in a report on Thursday, September 26th. Finally, DA Davidson raised their target price on United Bankshares from $36.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $40.25.

United Bankshares Stock Performance

NASDAQ:UBSI traded down $0.20 during trading hours on Thursday, reaching $36.70. 12,577 shares of the company’s stock were exchanged, compared to its average volume of 515,813. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.31. United Bankshares, Inc. has a 1-year low of $25.99 and a 1-year high of $39.93. The company has a 50-day moving average of $37.17 and a 200 day moving average of $35.01. The firm has a market capitalization of $4.96 billion, a price-to-earnings ratio of 13.81 and a beta of 0.99.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.07. United Bankshares had a return on equity of 7.72% and a net margin of 22.44%. The company had revenue of $255.94 million for the quarter, compared to analyst estimates of $255.54 million. During the same quarter in the previous year, the company earned $0.68 EPS. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. Research analysts anticipate that United Bankshares, Inc. will post 2.7 EPS for the current year.

United Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 4.03%. The ex-dividend date was Friday, September 13th. United Bankshares’s dividend payout ratio (DPR) is 55.85%.

About United Bankshares

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.