Bank of New York Mellon Corp Trims Stock Position in United Bankshares, Inc. (NASDAQ:UBSI)

Bank of New York Mellon Corp reduced its position in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,396,724 shares of the financial services provider's stock after selling 13,708 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.03% of United Bankshares worth $52,447,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of UBSI. Wilmington Savings Fund Society FSB boosted its stake in United Bankshares by 1,921.1% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,435 shares of the financial services provider's stock worth $54,000 after acquiring an additional 1,364 shares in the last quarter. Principal Securities Inc. boosted its stake in United Bankshares by 10.1% during the fourth quarter. Principal Securities Inc. now owns 3,115 shares of the financial services provider's stock worth $117,000 after acquiring an additional 285 shares in the last quarter. Milestone Asset Management LLC bought a new position in United Bankshares during the fourth quarter worth $201,000. Choreo LLC bought a new position in United Bankshares during the fourth quarter worth $206,000. Finally, Quest Partners LLC boosted its stake in United Bankshares by 377.2% during the third quarter. Quest Partners LLC now owns 5,641 shares of the financial services provider's stock worth $209,000 after acquiring an additional 4,459 shares in the last quarter. 70.80% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. StockNews.com lowered shares of United Bankshares from a "hold" rating to a "sell" rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods lowered their price objective on shares of United Bankshares from $46.00 to $45.00 and set a "market perform" rating on the stock in a report on Monday, January 27th. Finally, Stephens restated an "equal weight" rating and set a $43.00 price objective on shares of United Bankshares in a report on Monday, January 27th.

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United Bankshares Stock Down 0.4 %

UBSI traded down $0.15 during trading on Friday, hitting $35.08. 745,129 shares of the company's stock were exchanged, compared to its average volume of 518,541. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. The business's 50 day moving average is $37.39 and its two-hundred day moving average is $38.34. United Bankshares, Inc. has a fifty-two week low of $30.68 and a fifty-two week high of $44.43. The stock has a market cap of $5.02 billion, a P/E ratio of 12.80 and a beta of 0.98.

United Bankshares (NASDAQ:UBSI - Get Free Report) last released its quarterly earnings data on Friday, January 24th. The financial services provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. United Bankshares had a net margin of 22.94% and a return on equity of 7.60%. During the same quarter in the prior year, the business earned $0.59 EPS. As a group, equities analysts expect that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.48 annualized dividend and a dividend yield of 4.22%. United Bankshares's dividend payout ratio is currently 54.01%.

Insider Activity

In related news, Director Mark R. Nesselroad sold 6,000 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $39.16, for a total transaction of $234,960.00. Following the completion of the transaction, the director now owns 35,424 shares in the company, valued at approximately $1,387,203.84. This represents a 14.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.66% of the stock is currently owned by corporate insiders.

United Bankshares 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.