13,531 Shares in United Bankshares, Inc. (NASDAQ:UBSI) Bought by Apollon Wealth Management LLC

Apollon Wealth Management LLC purchased a new stake in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 13,531 shares of the financial services provider's stock, valued at approximately $469,000.

Other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its stake in shares of United Bankshares by 726.5% in the first quarter. Farther Finance Advisors LLC now owns 967 shares of the financial services provider's stock worth $33,000 after buying an additional 850 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in United Bankshares by 37.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,480 shares of the financial services provider's stock valued at $56,000 after purchasing an additional 400 shares in the last quarter. CWM LLC lifted its holdings in United Bankshares by 226.9% during the first quarter. CWM LLC now owns 1,651 shares of the financial services provider's stock valued at $57,000 after purchasing an additional 1,146 shares in the last quarter. Fifth Third Bancorp lifted its holdings in United Bankshares by 44.4% during the first quarter. Fifth Third Bancorp now owns 1,699 shares of the financial services provider's stock valued at $59,000 after purchasing an additional 522 shares in the last quarter. Finally, Hughes Financial Services LLC purchased a new position in United Bankshares during the first quarter valued at approximately $60,000. Hedge funds and other institutional investors own 70.80% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Keefe, Bruyette & Woods lowered their price target on shares of United Bankshares from $42.00 to $40.00 and set a "market perform" rating on the stock in a report on Monday, April 28th. Wall Street Zen downgraded shares of United Bankshares from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $40.63.

United Bankshares Price Performance

Shares of United Bankshares stock traded down $0.24 on Wednesday, hitting $36.86. 970,535 shares of the company traded hands, compared to its average volume of 679,507. The stock has a market capitalization of $5.24 billion, a P/E ratio of 13.70 and a beta of 0.76. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98. United Bankshares, Inc. has a 52 week low of $30.51 and a 52 week high of $44.43. The business has a 50-day simple moving average of $36.64 and a 200 day simple moving average of $36.02.

United Bankshares (NASDAQ:UBSI - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.07). The firm had revenue of $289.61 million for the quarter, compared to analysts' expectations of $279.02 million. United Bankshares had a net margin of 22.35% and a return on equity of 7.36%. The business's quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 EPS. Research analysts expect that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend was Friday, June 13th. United Bankshares's dividend payout ratio is presently 55.02%.

United Bankshares Profile

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.