Fisher Asset Management LLC Sells 203,089 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Fisher Asset Management LLC trimmed its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 12.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,378,264 shares of the financial services provider’s stock after selling 203,089 shares during the period. Fisher Asset Management LLC owned about 1.02% of United Bankshares worth $51,754,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of UBSI. UBS Group AG grew its holdings in shares of United Bankshares by 77.5% during the fourth quarter. UBS Group AG now owns 316,889 shares of the financial services provider’s stock worth $11,899,000 after purchasing an additional 138,317 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of United Bankshares by 58.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 91,471 shares of the financial services provider’s stock worth $3,435,000 after purchasing an additional 33,812 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of United Bankshares by 2,745.7% during the fourth quarter. Victory Capital Management Inc. now owns 2,835,545 shares of the financial services provider’s stock worth $106,475,000 after purchasing an additional 2,735,901 shares during the last quarter. Verity Asset Management Inc. grew its holdings in shares of United Bankshares by 18.2% during the third quarter. Verity Asset Management Inc. now owns 22,816 shares of the financial services provider’s stock worth $629,000 after purchasing an additional 3,506 shares during the last quarter. Finally, Anchor Capital Advisors LLC grew its holdings in shares of United Bankshares by 99.0% during the fourth quarter. Anchor Capital Advisors LLC now owns 50,560 shares of the financial services provider’s stock worth $1,899,000 after purchasing an additional 25,155 shares during the last quarter. 70.80% of the stock is currently owned by institutional investors.

United Bankshares Price Performance

United Bankshares stock opened at $31.11 on Monday. The business’s 50-day simple moving average is $33.17 and its 200 day simple moving average is $34.76. The stock has a market cap of $4.21 billion, a price-to-earnings ratio of 11.87 and a beta of 0.99. United Bankshares, Inc. has a 12-month low of $25.35 and a 12-month high of $38.74. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.36.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.01). The firm had revenue of $401.39 million during the quarter, compared to the consensus estimate of $256.80 million. United Bankshares had a net margin of 22.51% and a return on equity of 7.72%. During the same quarter in the prior year, the business earned $0.74 EPS. As a group, research analysts anticipate that United Bankshares, Inc. will post 2.62 earnings per share for the current year.

United Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 4.76%. The ex-dividend date is Friday, June 14th. United Bankshares’s payout ratio is 56.49%.

Wall Street Analyst Weigh In

Several analysts have recently commented on UBSI shares. Stephens decreased their target price on United Bankshares from $36.00 to $34.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Keefe, Bruyette & Woods decreased their price target on United Bankshares from $40.00 to $38.00 and set a “market perform” rating on the stock in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, United Bankshares presently has an average rating of “Hold” and a consensus price target of $37.00.

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.