Vaughan Nelson Investment Management L.P. Buys New Shares in United Bankshares, Inc. $UBSI

Vaughan Nelson Investment Management L.P. bought a new position in shares of United Bankshares, Inc. (NASDAQ:UBSI) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 832,340 shares of the financial services provider’s stock, valued at approximately $34,476,000. Vaughan Nelson Investment Management L.P. owned approximately 0.60% of United Bankshares as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in United Bankshares by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 7,741,908 shares of the financial services provider’s stock valued at $288,076,000 after purchasing an additional 24,631 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of United Bankshares by 5.1% during the 4th quarter. Geode Capital Management LLC now owns 3,802,338 shares of the financial services provider’s stock worth $146,030,000 after purchasing an additional 183,950 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of United Bankshares by 1.2% in the 3rd quarter. Victory Capital Management Inc. now owns 3,624,628 shares of the financial services provider’s stock valued at $134,872,000 after buying an additional 42,255 shares during the period. Norges Bank acquired a new stake in shares of United Bankshares in the 4th quarter valued at about $68,366,000. Finally, AQR Capital Management LLC increased its position in United Bankshares by 74.7% in the 4th quarter. AQR Capital Management LLC now owns 1,625,205 shares of the financial services provider’s stock valued at $62,408,000 after buying an additional 694,953 shares in the last quarter. 70.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on UBSI shares. Raymond James Financial reiterated an “outperform” rating and issued a $49.00 price target on shares of United Bankshares in a report on Monday, April 27th. Zacks Research downgraded United Bankshares from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Finally, Wall Street Zen lowered United Bankshares from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.75.

United Bankshares Stock Performance

NASDAQ:UBSI opened at $44.42 on Monday. United Bankshares, Inc. has a 52 week low of $34.10 and a 52 week high of $46.08. The firm has a 50-day moving average price of $43.61 and a two-hundred day moving average price of $41.93. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $6.12 billion, a price-to-earnings ratio of 12.44 and a beta of 0.71.

United Bankshares (NASDAQ:UBSI) last released its earnings results on Thursday, April 23rd. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.04. The company had revenue of $316.58 million during the quarter, compared to analyst estimates of $315.15 million. United Bankshares had a return on equity of 9.26% and a net margin of 27.45%.During the same period in the prior year, the company posted $0.59 earnings per share. On average, equities analysts expect that United Bankshares, Inc. will post 3.64 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $1.52 annualized dividend and a dividend yield of 3.4%. United Bankshares’s dividend payout ratio (DPR) is currently 42.58%.

United Bankshares Profile

United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company’s core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.

United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.