Apollon Wealth Management LLC Invests $469,000 in United Bankshares, Inc. (NASDAQ:UBSI)

Apollon Wealth Management LLC purchased a new position in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 13,531 shares of the financial services provider's stock, valued at approximately $469,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its position in United Bankshares by 4.6% during the 4th quarter. Brighton Jones LLC now owns 16,873 shares of the financial services provider's stock worth $634,000 after purchasing an additional 748 shares in the last quarter. HighTower Advisors LLC increased its position in United Bankshares by 16.1% during the 4th quarter. HighTower Advisors LLC now owns 22,683 shares of the financial services provider's stock worth $852,000 after purchasing an additional 3,141 shares in the last quarter. Cibc World Markets Corp purchased a new stake in United Bankshares during the 4th quarter worth about $465,000. Xponance Inc. increased its position in United Bankshares by 4.9% during the 4th quarter. Xponance Inc. now owns 18,951 shares of the financial services provider's stock worth $712,000 after purchasing an additional 879 shares in the last quarter. Finally, Millstone Evans Group LLC purchased a new stake in United Bankshares during the 4th quarter worth about $740,000. Institutional investors and hedge funds own 70.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on UBSI. Wall Street Zen cut United Bankshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Keefe, Bruyette & Woods lowered their price target on United Bankshares from $42.00 to $40.00 and set a "market perform" rating for the company in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $40.63.

United Bankshares Stock Down 0.5%

NASDAQ UBSI opened at $37.30 on Friday. The stock has a market cap of $5.30 billion, a PE ratio of 13.87 and a beta of 0.76. United Bankshares, Inc. has a fifty-two week low of $30.51 and a fifty-two week high of $44.43. The business has a 50 day moving average price of $36.64 and a two-hundred day moving average price of $36.02. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.10.

United Bankshares (NASDAQ:UBSI - Get Free Report) last announced its earnings results on Thursday, April 24th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.66 by ($0.07). United Bankshares had a net margin of 22.35% and a return on equity of 7.36%. The business had revenue of $289.61 million during the quarter, compared to analyst estimates of $279.02 million. During the same period in the previous year, the company earned $0.64 earnings per share. The business's revenue for the quarter was up 13.7% on a year-over-year basis. As a group, sell-side analysts predict that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend was Friday, June 13th. United Bankshares's dividend payout ratio is currently 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.

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