Papamarkou Wellner Asset Management inc. Buys Shares of 23,198 United Bankshares, Inc. $UBSI

Papamarkou Wellner Asset Management inc. bought a new stake in United Bankshares, Inc. (NASDAQ:UBSI) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 23,198 shares of the financial services provider’s stock, valued at approximately $961,000.

Other institutional investors also recently modified their holdings of the company. Jefferies Financial Group Inc. acquired a new position in United Bankshares in the second quarter valued at approximately $334,000. Public Employees Retirement System of Ohio acquired a new stake in United Bankshares during the 2nd quarter worth $246,000. Capstone Investment Advisors LLC acquired a new stake in United Bankshares during the 2nd quarter worth $283,000. Corient Private Wealth LP bought a new stake in shares of United Bankshares during the 2nd quarter valued at $393,000. Finally, Bank of America Corp DE bought a new stake in shares of United Bankshares during the 2nd quarter valued at $22,046,000. Institutional investors and hedge funds own 70.80% of the company’s stock.

United Bankshares Stock Up 0.1%

Shares of UBSI stock opened at $47.49 on Friday. The firm has a fifty day moving average of $47.34 and a 200-day moving average of $44.35. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.10. United Bankshares, Inc. has a 12-month low of $34.10 and a 12-month high of $49.62. The company has a market capitalization of $6.47 billion, a price-to-earnings ratio of 12.94 and a beta of 0.71.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.95 EPS for the quarter, beating the consensus estimate of $0.89 by $0.06. The business had revenue of $323.82 million for the quarter, compared to analysts’ expectations of $320.07 million. United Bankshares had a net margin of 27.97% and a return on equity of 9.39%. During the same period in the previous year, the firm posted $0.85 EPS. As a group, equities research analysts predict that United Bankshares, Inc. will post 3.71 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.52 annualized dividend and a dividend yield of 3.2%. United Bankshares’s dividend payout ratio (DPR) is currently 41.42%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Raymond James Financial raised their price target on United Bankshares from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Hovde Group upped their price objective on United Bankshares from $49.00 to $50.00 and gave the company a “market perform” rating in a report on Friday, July 24th. Weiss Ratings reissued a “buy (b)” rating on shares of United Bankshares in a research note on Monday, July 6th. Wall Street Zen raised United Bankshares from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Keefe, Bruyette & Woods raised their target price on United Bankshares from $46.00 to $48.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $47.80.

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.