Viking Fund Management LLC Sells 55,000 Shares of United Bankshares, Inc. (UBSI)

Viking Fund Management LLC lowered its position in United Bankshares, Inc. (NASDAQ:UBSI) by 65.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,000 shares of the financial services provider’s stock after selling 55,000 shares during the quarter. Viking Fund Management LLC’s holdings in United Bankshares were worth $1,008,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Tower Research Capital LLC TRC purchased a new position in United Bankshares in the second quarter worth approximately $135,000. Chicago Partners Investment Group LLC purchased a new stake in shares of United Bankshares during the 3rd quarter worth approximately $216,000. Riverhead Capital Management LLC lifted its position in shares of United Bankshares by 102.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,678 shares of the financial services provider’s stock worth $223,000 after buying an additional 2,878 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in shares of United Bankshares during the 3rd quarter worth approximately $241,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of United Bankshares during the 2nd quarter worth approximately $248,000. Institutional investors own 65.51% of the company’s stock.

Several brokerages have recently weighed in on UBSI. Sandler O’Neill set a $38.00 price objective on shares of United Bankshares and gave the stock a “hold” rating in a research report on Thursday, January 4th. Zacks Investment Research upgraded shares of United Bankshares from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. BidaskClub upgraded shares of United Bankshares from a “sell” rating to a “hold” rating in a research report on Wednesday, December 20th. Finally, Boenning Scattergood restated a “hold” rating on shares of United Bankshares in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a strong buy rating to the company. United Bankshares has an average rating of “Hold” and a consensus price target of $42.25.

Shares of United Bankshares, Inc. (UBSI) opened at $36.80 on Friday. The firm has a market cap of $3,805.98, a P/E ratio of 19.37, a PEG ratio of 1.48 and a beta of 1.05. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.46. United Bankshares, Inc. has a 12-month low of $31.70 and a 12-month high of $46.35.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.01). The company had revenue of $188.51 million for the quarter, compared to analysts’ expectations of $193.87 million. United Bankshares had a return on equity of 6.25% and a net margin of 24.94%. The firm’s quarterly revenue was up 44.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.54 EPS. research analysts expect that United Bankshares, Inc. will post 1.9 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.70%. This is a boost from United Bankshares’s previous quarterly dividend of $0.33. The ex-dividend date was Thursday, December 7th. United Bankshares’s payout ratio is presently 71.58%.

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About United Bankshares

United Bankshares, Inc (United) is a bank holding company. The Company operates through community banking segment. United’s Banking Subsidiaries offer a range of commercial and retail banking services and products. United, through its subsidiaries, engages in community banking and offers banking products and services permitted by law and regulation.

Institutional Ownership by Quarter for United Bankshares (NASDAQ:UBSI)

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