Aigen Investment Management LP 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 SEC. The institutional investor bought 20,595 shares of the financial services provider's stock, valued at approximately $714,000.
Several other large investors also recently modified their holdings of the stock. Earnest Partners LLC grew its holdings in shares of United Bankshares by 0.7% during the 4th quarter. Earnest Partners LLC now owns 4,199,136 shares of the financial services provider's stock worth $157,678,000 after purchasing an additional 29,898 shares in the last quarter. Northern Trust Corp lifted its position in shares of United Bankshares by 13.7% during the 4th quarter. Northern Trust Corp now owns 1,774,018 shares of the financial services provider's stock worth $66,614,000 after buying an additional 213,441 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of United Bankshares by 1.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,733,488 shares of the financial services provider's stock worth $60,100,000 after buying an additional 22,900 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of United Bankshares by 3.9% during the 4th quarter. ProShare Advisors LLC now owns 1,123,987 shares of the financial services provider's stock worth $42,206,000 after buying an additional 41,819 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of United Bankshares by 8.9% during the 1st quarter. Invesco Ltd. now owns 980,553 shares of the financial services provider's stock worth $33,996,000 after buying an additional 80,176 shares during the last quarter. 70.80% of the stock is owned by institutional investors and hedge funds.
United Bankshares Trading Up 2.1%
United Bankshares stock traded up $0.79 during trading hours on Wednesday, hitting $37.87. The stock had a trading volume of 730,369 shares, compared to its average volume of 854,965. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.10. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of 13.38 and a beta of 0.79. United Bankshares, Inc. has a one year low of $30.50 and a one year high of $44.43. The business's 50 day simple moving average is $36.53 and its 200-day simple moving average is $35.86.
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 the consensus estimate 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 last year, the company earned $0.71 earnings per share. On average, equities analysts predict that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on UBSI. Wall Street Zen downgraded United Bankshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Keefe, Bruyette & Woods dropped their price objective on United Bankshares from $42.00 to $40.00 and set a "market perform" rating for the company in a research report on Monday, April 28th.
Check Out Our Latest Analysis on United Bankshares
About United Bankshares
(
Free Report)
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.
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