Amundi Has $2.07 Million Holdings in United Bankshares, Inc. $UBSI

Key Points

• Amundi increased its United Bankshares stake by 204.8% in the first quarter, holding 49,874 shares valued at approximately $2.07 million. Institutional investors and hedge funds collectively own 70.8% of UBSI.
• United Bankshares reported quarterly EPS of $0.95, beating analysts’ $0.89 estimate. The company also pays a quarterly dividend of $0.38 per share, equal to a 3.1% annualized yield.
• UBSI shares opened at $48.32, near their 52-week high of $49.62. Analysts maintain a generally neutral outlook, with an average “Hold” rating and a consensus price target of $47.80.

Amundi increased its holdings in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 204.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,874 shares of the financial services provider's stock after purchasing an additional 33,511 shares during the quarter. Amundi's holdings in United Bankshares were worth $2,066,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Caitong International Asset Management Co. Ltd bought a new stake in United Bankshares in the third quarter valued at approximately $25,000. Eurizon Capital SGR S.p.A. acquired a new position in United Bankshares in the fourth quarter valued at $26,000. Farther Finance Advisors LLC boosted its position in shares of United Bankshares by 196.2% during the 4th quarter. Farther Finance Advisors LLC now owns 856 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 567 shares in the last quarter. Root Financial Partners LLC increased its stake in shares of United Bankshares by 64.4% in the 1st quarter. Root Financial Partners LLC now owns 786 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 308 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of United Bankshares by 528.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,175 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 988 shares during the period. 70.80% of the stock is currently owned by institutional investors and hedge funds.

United Bankshares Price Performance

Shares of NASDAQ:UBSI opened at $48.32 on Friday. United Bankshares, Inc. has a twelve month low of $34.10 and a twelve month high of $49.62. The firm has a market capitalization of $6.66 billion, a PE ratio of 13.17 and a beta of 0.71. 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 company has a 50-day moving average price of $46.21 and a two-hundred day moving average price of $43.80.

United Bankshares (NASDAQ:UBSI - Get Free Report) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.06. United Bankshares had a net margin of 27.97% and a return on equity of 9.39%. The business had revenue of $35.72 million for the quarter, compared to analysts' expectations of $320.07 million. During the same quarter in the previous year, the firm posted $0.85 EPS. Equities analysts forecast that United Bankshares, Inc. will post 3.71 EPS for the current year.

United Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Friday, June 12th. United Bankshares's payout ratio is presently 41.42%.

Analyst Ratings Changes

A number of research analysts recently weighed in on UBSI shares. Hovde Group upped their price target on United Bankshares from $49.00 to $50.00 and gave the stock a "market perform" rating in a research note on Friday, July 24th. Keefe, Bruyette & Woods raised their price objective on United Bankshares from $46.00 to $48.00 and gave the company a "market perform" rating in a research note on Monday, July 27th. Wall Street Zen upgraded United Bankshares from a "sell" rating to a "hold" rating in a report on Saturday, July 25th. Raymond James Financial upped their target price on United Bankshares from $49.00 to $50.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 1st. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of United Bankshares in a report on Monday, July 6th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently 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.

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