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.
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.
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