McKinley Carter Wealth Services Inc. reduced its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 64.6% during the 1st quarter, Holdings Channel reports. The firm owned 21,137 shares of the financial services provider’s stock after selling 38,503 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in United Bankshares were worth $766,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Toronto Dominion Bank purchased a new position in shares of United Bankshares in the 4th quarter valued at approximately $40,000. Rehmann Capital Advisory Group grew its stake in shares of United Bankshares by 60.3% in the 4th quarter. Rehmann Capital Advisory Group now owns 1,334 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 502 shares during the last quarter. FNY Investment Advisers LLC grew its stake in shares of United Bankshares by 97.1% in the 4th quarter. FNY Investment Advisers LLC now owns 1,774 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 874 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of United Bankshares in the 1st quarter valued at approximately $112,000. Finally, Bessemer Group Inc. grew its stake in shares of United Bankshares by 381.0% in the 4th quarter. Bessemer Group Inc. now owns 4,021 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 3,185 shares during the last quarter. Institutional investors own 72.62% of the company’s stock.
United Bankshares stock opened at $36.93 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.58. United Bankshares, Inc. has a 1-year low of $29.13 and a 1-year high of $39.95. The company has a market capitalization of $3.78 billion, a P/E ratio of 15.07, a price-to-earnings-growth ratio of 1.82 and a beta of 1.27.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $0.34 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.68%. United Bankshares’s dividend payout ratio (DPR) is presently 55.51%.
In related news, President Richard M. Adams, Jr. sold 14,790 shares of United Bankshares stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $37.97, for a total value of $561,576.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.62% of the stock is owned by insiders.
Several brokerages have weighed in on UBSI. BidaskClub upgraded United Bankshares from a “sell” rating to a “hold” rating in a research note on Saturday, March 30th. Boenning Scattergood reiterated a “neutral” rating on shares of United Bankshares in a research note on Thursday, April 25th. Finally, Zacks Investment Research downgraded United Bankshares from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Four equities research analysts have rated the stock with a hold rating, United Bankshares presently has a consensus rating of “Hold” and an average target price of $41.00.
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United Bankshares Profile
United Bankshares, Inc, a financial holding company, 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.
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