Raymond James Financial Services Advisors Inc. Lowers Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

Raymond James Financial Services Advisors Inc. trimmed its holdings in United Bankshares, Inc. (NASDAQ:UBSI – Get Rating) by 3.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 78,404 shares of the financial services provider’s stock after selling 2,455 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in United Bankshares were worth $3,175,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in UBSI. Concord Wealth Partners purchased a new stake in United Bankshares in the fourth quarter valued at $60,000. Covestor Ltd boosted its stake in shares of United Bankshares by 74.7% during the 1st quarter. Covestor Ltd now owns 2,420 shares of the financial services provider’s stock worth $84,000 after acquiring an additional 1,035 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of United Bankshares by 40.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,808 shares of the financial services provider’s stock worth $171,000 after acquiring an additional 1,391 shares in the last quarter. Pathstone Family Office LLC purchased a new stake in shares of United Bankshares during the 3rd quarter worth about $202,000. Finally, HNP Capital LLC purchased a new stake in shares of United Bankshares during the 4th quarter worth about $207,000. 68.73% of the stock is owned by hedge funds and other institutional investors.

United Bankshares Stock Performance

Shares of UBSI stock opened at $29.56 on Monday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.61. United Bankshares, Inc. has a 52 week low of $27.68 and a 52 week high of $44.15. The stock has a market capitalization of $3.99 billion, a PE ratio of 10.05 and a beta of 1.02. The firm has a 50 day moving average of $33.26 and a two-hundred day moving average of $38.17.

United Bankshares (NASDAQ:UBSI – Get Rating) last announced its quarterly earnings data on Wednesday, April 26th. The financial services provider reported $0.74 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.74. United Bankshares had a net margin of 31.24% and a return on equity of 8.78%. The business had revenue of $362.05 million for the quarter, compared to analyst estimates of $272.72 million. During the same period last year, the business earned $0.60 EPS. On average, research analysts predict that United Bankshares, Inc. will post 2.71 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Friday, June 9th will be paid a dividend of $0.36 per share. The ex-dividend date is Thursday, June 8th. This represents a $1.44 annualized dividend and a yield of 4.87%. United Bankshares’s dividend payout ratio is currently 48.98%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lowered their target price on shares of United Bankshares from $38.00 to $36.00 and set a “market perform” rating on the stock in a research note on Thursday, April 6th. 3M reissued a “maintains” rating on shares of United Bankshares in a research note on Friday, April 28th. StockNews.com assumed coverage on shares of United Bankshares in a research note on Thursday. They set a “sell” rating on the stock. Stephens initiated coverage on shares of United Bankshares in a research note on Tuesday, April 4th. They set an “equal weight” rating and a $32.00 target price on the stock. Finally, Raymond James reduced their price target on shares of United Bankshares from $44.00 to $42.00 and set an “outperform” rating for the company in a research report on Thursday, April 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $39.00.

United Bankshares Profile

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United Bankshares, Inc is a bank holding company, which engages in the provision of commercial and retail banking services and products. It operates through the following segments: Community Banking, Mortgage Banking, and Other. The Community Banking segment consists of both commercial and consumer lending and provides customers with such products as commercial loans, real estate loans, business financing, and consumer loans.