OLD National Bancorp IN Buys 19,463 Shares of United Bankshares, Inc. $UBSI

OLD National Bancorp IN increased its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 15.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 146,924 shares of the financial services provider’s stock after purchasing an additional 19,463 shares during the quarter. OLD National Bancorp IN owned approximately 0.11% of United Bankshares worth $6,086,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new stake in United Bankshares in the third quarter worth $25,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of United Bankshares during the 4th quarter valued at $26,000. Farther Finance Advisors LLC lifted its position in shares of United Bankshares by 196.2% during the 4th quarter. Farther Finance Advisors LLC now owns 856 shares of the financial services provider’s stock valued at $33,000 after buying an additional 567 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in United Bankshares by 528.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,175 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 988 shares during the period. Finally, Rothschild Investment LLC raised its stake in United Bankshares by 47.5% in the 4th quarter. Rothschild Investment LLC now owns 1,236 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 398 shares during the period. Hedge funds and other institutional investors own 70.80% of the company’s stock.

United Bankshares Trading Up 0.1%

UBSI opened at $46.21 on Friday. The business has a 50 day moving average of $43.79 and a 200-day moving average of $42.17. United Bankshares, Inc. has a 52 week low of $34.10 and a 52 week high of $46.50. The stock has a market cap of $6.37 billion, a PE ratio of 12.94 and a beta of 0.71. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.10.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.04. United Bankshares had a return on equity of 9.26% and a net margin of 27.45%.The firm had revenue of $316.58 million during the quarter, compared to the consensus estimate of $315.15 million. During the same period last year, the company earned $0.59 earnings per share. Equities research analysts predict that United Bankshares, Inc. will post 3.64 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be issued a $0.38 dividend. The ex-dividend date is Friday, June 12th. This represents a $1.52 annualized dividend and a yield of 3.3%. United Bankshares’s dividend payout ratio (DPR) is currently 42.58%.

Wall Street Analysts Forecast Growth

UBSI has been the subject of a number of recent research reports. Zacks Research lowered shares of United Bankshares from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Wall Street Zen lowered shares of United Bankshares from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Hovde Group started coverage on shares of United Bankshares in a research note on Wednesday. They issued a “market perform” rating and a $49.00 target price on the stock. Finally, Raymond James Financial restated an “outperform” rating and set a $49.00 price target on shares of United Bankshares in a research report on Monday, April 27th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, United Bankshares currently has a consensus rating of “Hold” and a consensus price target of $46.40.

About United Bankshares

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.