Edgestream Partners L.P. Makes New Investment in United Bankshares, Inc. $UBSI

Edgestream Partners L.P. bought a new position in United Bankshares, Inc. (NASDAQ:UBSI) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 14,946 shares of the financial services provider’s stock, valued at approximately $619,000.

Several other institutional investors and hedge funds also recently made changes to their positions in UBSI. Caitong International Asset Management Co. Ltd bought a new position in shares of United Bankshares during the third quarter valued at about $25,000. Eurizon Capital SGR S.p.A. purchased a new position in United Bankshares during the fourth quarter worth about $26,000. Farther Finance Advisors LLC grew its position in United Bankshares by 196.2% in the 4th quarter. Farther Finance Advisors LLC now owns 856 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 567 shares in the last quarter. Root Financial Partners LLC grew its position in United Bankshares by 64.4% in the 1st quarter. Root Financial Partners LLC now owns 786 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 308 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased 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 buying an additional 988 shares during the last quarter. Hedge funds and other institutional investors own 70.80% of the company’s stock.

Wall Street Analysts Forecast Growth

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

United Bankshares Stock Performance

NASDAQ:UBSI opened at $49.37 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.98. The business has a fifty day simple moving average of $45.89 and a two-hundred day simple moving average of $43.66. United Bankshares, Inc. has a 1 year low of $34.10 and a 1 year high of $49.62. The company has a market capitalization of $6.80 billion, a P/E ratio of 13.45 and a beta of 0.71.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.06. United Bankshares had a return on equity of 9.39% and a net margin of 27.97%.The firm had revenue of $323.82 million for the quarter, compared to analysts’ expectations of $320.07 million. During the same quarter in the prior year, the firm earned $0.85 EPS. On average, analysts expect that United Bankshares, Inc. will post 3.71 earnings per share for the current year.

United Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, June 12th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Friday, June 12th. United Bankshares’s payout ratio is currently 41.42%.

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.