Huntington National Bank boosted its position in United Bankshares, Inc. (NASDAQ:UBSI) by 40.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,174 shares of the financial services provider’s stock after buying an additional 12,124 shares during the period. Huntington National Bank owned about 0.05% of United Bankshares worth $1,782,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System increased its stake in United Bankshares by 3.5% in the third quarter. Louisiana State Employees Retirement System now owns 29,700 shares of the financial services provider’s stock worth $1,119,000 after buying an additional 1,000 shares during the last quarter. HL Financial Services LLC increased its stake in United Bankshares by 9.7% in the third quarter. HL Financial Services LLC now owns 19,283 shares of the financial services provider’s stock worth $726,000 after buying an additional 1,708 shares during the last quarter. Emerald Mutual Fund Advisers Trust purchased a new stake in United Bankshares during the third quarter worth $689,000. Aperio Group LLC increased its stake in United Bankshares by 0.4% in the third quarter. Aperio Group LLC now owns 11,616 shares of the financial services provider’s stock worth $438,000 after buying an additional 46 shares during the last quarter. Finally, TD Asset Management Inc. increased its stake in United Bankshares by 1.8% in the third quarter. TD Asset Management Inc. now owns 22,200 shares of the financial services provider’s stock worth $836,000 after buying an additional 400 shares during the last quarter. Institutional investors own 54.82% of the company’s stock.
United Bankshares, Inc. (NASDAQ:UBSI) traded down 0.061% during mid-day trading on Friday, reaching $41.025. The company had a trading volume of 605,447 shares. United Bankshares, Inc. has a 1-year low of $34.50 and a 1-year high of $49.35. The firm has a 50-day moving average of $41.94 and a 200 day moving average of $42.98. The company has a market capitalization of $3.32 billion, a PE ratio of 20.616 and a beta of 1.04.
United Bankshares (NASDAQ:UBSI) last issued its earnings results on Tuesday, January 31st. The financial services provider reported $0.51 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.51. The business earned $130 million during the quarter, compared to analyst estimates of $127.44 million. United Bankshares had a return on equity of 7.34% and a net margin of 27.22%. United Bankshares’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.48 EPS. On average, analysts predict that United Bankshares, Inc. will post $2.07 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 3rd. Shareholders of record on Friday, March 10th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend was Wednesday, March 8th. United Bankshares’s dividend payout ratio (DPR) is presently 66.33%.
UBSI has been the subject of a number of recent research reports. Zacks Investment Research upgraded United Bankshares from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Wednesday, December 28th. Stephens initiated coverage on United Bankshares in a research report on Friday, March 3rd. They issued an “equal weight” rating for the company. DA Davidson initiated coverage on United Bankshares in a research report on Monday, March 6th. They issued a “neutral” rating and a $45.00 target price for the company. Finally, Keefe, Bruyette & Woods set a $44.00 target price on United Bankshares and gave the stock a “hold” rating in a research report on Thursday, April 6th. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $44.88.
United Bankshares Company Profile
United Bankshares, Inc (United) is a bank holding company. The Company operates through community banking segment. United’s Banking Subsidiaries offer a range of commercial and retail banking services and products. United, through its subsidiaries, engages in community banking and offers banking products and services permitted by law and regulation.
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