Virginia Retirement Systems ET AL acquired a new stake in United Bankshares Inc. (NASDAQ:UBSI) during the second quarter, Holdings Channel reports. The fund acquired 7,500 shares of the financial services provider’s stock, valued at approximately $281,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Societe Generale purchased a new position in United Bankshares during the second quarter valued at $109,000. Victory Capital Management Inc. boosted its position in shares of United Bankshares by 77.3% in the second quarter. Victory Capital Management Inc. now owns 2,962 shares of the financial services provider’s stock worth $111,000 after buying an additional 1,291 shares during the last quarter. Shelton Capital Management bought a new position in shares of United Bankshares during the second quarter worth approximately $204,000. Cambridge Investment Research Advisors Inc. boosted its position in shares of United Bankshares by 6.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 6,043 shares of the financial services provider’s stock worth $227,000 after buying an additional 379 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of United Bankshares during the first quarter worth approximately $294,000. Hedge funds and other institutional investors own 51.99% of the company’s stock.
United Bankshares Inc. (NASDAQ:UBSI) opened at 38.28 on Tuesday. The company has a 50 day moving average price of $38.12 and a 200-day moving average price of $37.96. The company has a market cap of $2.92 billion, a PE ratio of 19.94 and a beta of 1.03. United Bankshares Inc. has a 12 month low of $32.22 and a 12 month high of $43.13.
United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings data on Thursday, July 28th. The financial services provider reported $0.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by $0.06. United Bankshares had a return on equity of 7.53% and a net margin of 26.71%. During the same period in the previous year, the firm posted $0.50 earnings per share. Equities analysts predict that United Bankshares Inc. will post $1.97 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 9th were given a $0.33 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $1.32 annualized dividend and a yield of 3.45%. United Bankshares’s dividend payout ratio is currently 68.75%.
A number of research analysts recently commented on UBSI shares. Zacks Investment Research cut United Bankshares from a “buy” rating to a “hold” rating in a research report on Thursday, June 30th. Keefe, Bruyette & Woods raised their price target on United Bankshares from $36.00 to $38.00 and gave the stock a “market perform” rating in a research report on Monday, August 22nd.
About United Bankshares
United Bankshares, Inc (United) is a bank holding company. The Company has approximately two banking subsidiaries (the Banking Subsidiaries) doing business under the name of United Bank, one operating under the laws of West Virginia referred to as United Bank (WV) and the other operating under the laws of Virginia referred to as United Bank (VA).
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