Vanguard Group Inc. increased its position in United Bankshares Inc. (NASDAQ:UBSI) by 3.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,270,813 shares of the financial services provider’s stock after buying an additional 155,011 shares during the period. Vanguard Group Inc. owned about 6.91% of United Bankshares worth $197,708,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in UBSI. Silvercrest Asset Management Group LLC increased its stake in United Bankshares by 31.2% in the first quarter. Silvercrest Asset Management Group LLC now owns 20,834 shares of the financial services provider’s stock worth $765,000 after buying an additional 4,956 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in United Bankshares during the first quarter worth approximately $294,000. Hancock Holding Co. increased its stake in United Bankshares by 5.2% in the first quarter. Hancock Holding Co. now owns 20,310 shares of the financial services provider’s stock worth $746,000 after buying an additional 1,002 shares during the last quarter. Geode Capital Management LLC increased its stake in United Bankshares by 6.5% in the first quarter. Geode Capital Management LLC now owns 462,348 shares of the financial services provider’s stock worth $16,968,000 after buying an additional 28,079 shares during the last quarter. Finally, Rafferty Asset Management LLC increased its stake in United Bankshares by 16.3% in the first quarter. Rafferty Asset Management LLC now owns 13,479 shares of the financial services provider’s stock worth $495,000 after buying an additional 1,890 shares during the last quarter. Institutional investors own 51.99% of the company’s stock.
United Bankshares Inc. (NASDAQ:UBSI) opened at 36.80 on Tuesday. The stock has a market capitalization of $2.81 billion, a P/E ratio of 19.17 and a beta of 1.03. The stock has a 50 day moving average of $37.92 and a 200 day moving average of $37.97. United Bankshares Inc. has a 52-week low of $32.22 and a 52-week high of $43.13.
United Bankshares (NASDAQ:UBSI) last released its earnings results on Thursday, July 28th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by $0.06. United Bankshares had a net margin of 26.71% and a return on equity of 7.53%. During the same quarter last year, the company earned $0.50 EPS. On average, equities research analysts forecast that United Bankshares Inc. will post $1.97 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 9th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.32 dividend on an annualized basis and a yield of 3.59%. United Bankshares’s payout ratio is presently 68.75%.
UBSI has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their target price on shares of United Bankshares from $36.00 to $38.00 and gave the stock a “market perform” rating in a report on Monday, August 22nd. Zacks Investment Research upgraded shares of United Bankshares from a “sell” rating to a “hold” rating in a report on Wednesday, August 17th.
United Bankshares Company Profile
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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