Teza Capital Management LLC Takes $294,000 Position in United Bankshares, Inc. $UBSI

Key Points

• Teza Capital Management LLC acquired 8,473 shares of United Bankshares, Inc. valued at approximately $294,000, marking a significant investment in the financial services provider.
• Several hedge funds increased their stakes in United Bankshares, with Farther Finance Advisors LLC boosting its position by 726.5%, demonstrating growing institutional interest in the company.
• The company declared a quarterly dividend of $0.37 per share, translating to an annualized dividend yield of 3.9%, set to be paid on October 1st.

Teza Capital Management LLC bought a new position in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,473 shares of the financial services provider's stock, valued at approximately $294,000.

Several other institutional investors and hedge funds have also bought and sold shares of UBSI. Cerity Partners LLC raised its holdings in shares of United Bankshares by 0.8% in the first quarter. Cerity Partners LLC now owns 42,211 shares of the financial services provider's stock valued at $1,463,000 after purchasing an additional 346 shares during the last quarter. Amalgamated Bank raised its holdings in shares of United Bankshares by 1.1% in the first quarter. Amalgamated Bank now owns 62,509 shares of the financial services provider's stock valued at $2,167,000 after purchasing an additional 698 shares during the last quarter. New York State Teachers Retirement System raised its holdings in shares of United Bankshares by 0.5% in the first quarter. New York State Teachers Retirement System now owns 133,107 shares of the financial services provider's stock valued at $4,615,000 after purchasing an additional 600 shares during the last quarter. State of Alaska Department of Revenue grew its position in United Bankshares by 8.6% during the first quarter. State of Alaska Department of Revenue now owns 16,719 shares of the financial services provider's stock valued at $579,000 after buying an additional 1,330 shares during the period. Finally, Nomura Holdings Inc. bought a new position in United Bankshares during the fourth quarter valued at about $671,000. 70.80% of the stock is owned by institutional investors.

United Bankshares Price Performance

Shares of NASDAQ UBSI traded down $0.66 during midday trading on Friday, reaching $37.43. 322,803 shares of the stock traded hands, compared to its average volume of 472,138. 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 stock has a market capitalization of $5.30 billion, a PE ratio of 13.23 and a beta of 0.82. United Bankshares, Inc. has a one year low of $30.50 and a one year high of $44.43. The company's 50 day moving average is $37.26 and its 200 day moving average is $35.87.

United Bankshares (NASDAQ:UBSI - Get Free Report) last posted its earnings results on Thursday, July 24th. The financial services provider reported $0.85 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.08. The firm had revenue of $306.00 million during the quarter, compared to the consensus estimate of $297.98 million. United Bankshares had a return on equity of 7.65% and a net margin of 23.14%.During the same period in the prior year, the company earned $0.71 EPS. On average, equities research analysts anticipate that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be paid a $0.37 dividend. The ex-dividend date is Friday, September 12th. This represents a $1.48 dividend on an annualized basis and a yield of 4.0%. United Bankshares's dividend payout ratio (DPR) is presently 52.30%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on UBSI shares. Wall Street Zen lowered shares of United Bankshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Zacks Research raised shares of United Bankshares to a "hold" rating in a research report on Friday, August 8th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, United Bankshares has an average rating of "Hold" and an average price target of $40.50.

About United Bankshares

United Bankshares, Inc, through its subsidiaries, primarily provides commercial and retail banking products and services in the United States. It operates through two segments, Community Banking and Mortgage Banking. The company accepts checking, savings, and time and money market accounts; individual retirement accounts; and demand deposits, statement and special savings, and NOW accounts.