Fisher Asset Management LLC Sells 92,484 Shares of United Bankshares, Inc. $UBSI

Fisher Asset Management LLC reduced its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 7.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,182,941 shares of the financial services provider’s stock after selling 92,484 shares during the quarter. Fisher Asset Management LLC’s holdings in United Bankshares were worth $45,425,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in UBSI. Ritholtz Wealth Management lifted its position in United Bankshares by 2.6% in the 4th quarter. Ritholtz Wealth Management now owns 9,216 shares of the financial services provider’s stock valued at $354,000 after acquiring an additional 237 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in United Bankshares by 24.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,492 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 292 shares in the last quarter. Kestra Private Wealth Services LLC lifted its position in United Bankshares by 1.1% in the 4th quarter. Kestra Private Wealth Services LLC now owns 27,609 shares of the financial services provider’s stock valued at $1,060,000 after acquiring an additional 297 shares in the last quarter. Jones Financial Companies Lllp lifted its position in United Bankshares by 2.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 12,266 shares of the financial services provider’s stock valued at $458,000 after acquiring an additional 343 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in United Bankshares by 14.9% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,699 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 351 shares in the last quarter. 70.80% of the stock is owned by institutional investors.

United Bankshares Trading Up 1.2%

NASDAQ:UBSI opened at $43.76 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market capitalization of $6.03 billion, a price-to-earnings ratio of 12.26 and a beta of 0.72. United Bankshares, Inc. has a one year low of $34.10 and a one year high of $45.92. The business has a fifty day moving average price of $42.48 and a 200-day moving average price of $40.99.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.89 EPS for the quarter, topping the consensus estimate of $0.85 by $0.04. The firm had revenue of $316.58 million during the quarter, compared to analyst estimates of $315.15 million. United Bankshares had a return on equity of 9.26% and a net margin of 27.45%.During the same period in the prior year, the business posted $0.59 EPS. Sell-side analysts forecast that United Bankshares, Inc. will post 3.64 EPS for the current year.

United Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Friday, June 12th. United Bankshares’s dividend payout ratio is 42.58%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on UBSI shares. Raymond James Financial reaffirmed an “outperform” rating and issued a $49.00 price objective on shares of United Bankshares in a research report on Monday, April 27th. Weiss Ratings raised United Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 13th. Finally, Zacks Research cut United Bankshares from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $45.75.

About United Bankshares

United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company’s core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.

United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.