California State Teachers Retirement System Has $6.45 Million Position in United Bankshares, Inc. $UBSI

Key Points

• California State Teachers Retirement System increased its United Bankshares stake by 16.9% in the first quarter, owning 155,643 shares worth approximately $6.45 million. Institutional investors collectively hold 70.8% of the company.
• United Bankshares reported quarterly earnings of $0.95 per share, exceeding analyst expectations of $0.89, while revenue of $323.82 million also topped estimates. The company pays a quarterly dividend of $0.38, equivalent to a 3.1% annual yield.
• Analysts remain broadly cautious, with three Buy ratings and four Hold ratings producing a consensus “Hold” rating and a $47.80 target price, below the reported share price of $49.08.

California State Teachers Retirement System boosted its holdings in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 16.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 155,643 shares of the financial services provider's stock after acquiring an additional 22,458 shares during the quarter. California State Teachers Retirement System owned 0.11% of United Bankshares worth $6,447,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Ritholtz Wealth Management grew its stake in shares of United Bankshares by 2.6% in the 4th quarter. Ritholtz Wealth Management now owns 9,216 shares of the financial services provider's stock valued at $354,000 after purchasing an additional 237 shares during the period. Inspire Investing LLC lifted its position in shares of United Bankshares by 2.0% during the 1st quarter. Inspire Investing LLC now owns 12,389 shares of the financial services provider's stock worth $513,000 after buying an additional 245 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of United Bankshares by 24.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,492 shares of the financial services provider's stock worth $57,000 after buying an additional 292 shares during the period. Kestra Private Wealth Services LLC boosted its stake in United Bankshares by 1.1% in the 4th quarter. Kestra Private Wealth Services LLC now owns 27,609 shares of the financial services provider's stock valued at $1,060,000 after buying an additional 297 shares in the last quarter. Finally, Root Financial Partners LLC boosted its stake in 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 buying an additional 308 shares in the last quarter. Institutional investors and hedge funds own 70.80% of the company's stock.

United Bankshares Stock Down 0.6%

Shares of NASDAQ UBSI opened at $49.08 on Thursday. The firm's 50-day simple moving average is $46.01 and its 200 day simple moving average is $43.72. The company has a market cap of $6.76 billion, a price-to-earnings ratio of 13.37 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. United Bankshares, Inc. has a 12-month low of $34.10 and a 12-month high of $49.62.

United Bankshares (NASDAQ:UBSI - Get Free Report) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $0.95 earnings per share for the quarter, topping 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 company had revenue of $323.82 million during the quarter, compared to the consensus estimate of $320.07 million. During the same period in the previous year, the firm posted $0.85 earnings per share. On average, research analysts expect that United Bankshares, Inc. will post 3.71 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

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

Analyst Ratings Changes

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