Charles Schwab Investment Management Inc. Purchases 22,900 Shares of United Bankshares, Inc. $UBSI

Key Points

• Charles Schwab Investment Management has increased its stake in United Bankshares by 1.3%, now owning 1.21% of the company, valued at approximately $60.1 million.
• Several institutional investors have significantly boosted their holdings in United Bankshares, with 70.8% of the stock currently owned by these entities.
• United Bankshares reported $0.85 EPS for the last quarter, exceeding estimates, and analysts predict an EPS of 2.81 for the current fiscal year.

Charles Schwab Investment Management Inc. boosted its position in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 1.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,733,488 shares of the financial services provider's stock after acquiring an additional 22,900 shares during the period. Charles Schwab Investment Management Inc. owned 1.21% of United Bankshares worth $60,100,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its holdings in 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 acquiring an additional 850 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in United Bankshares by 144.2% in the first quarter. Meeder Asset Management Inc. now owns 1,155 shares of the financial services provider's stock worth $40,000 after acquiring an additional 682 shares in the last quarter. CWM LLC boosted its holdings in United Bankshares by 226.9% in the first quarter. CWM LLC now owns 1,651 shares of the financial services provider's stock worth $57,000 after acquiring an additional 1,146 shares in the last quarter. Fifth Third Bancorp boosted its holdings in United Bankshares by 44.4% in the first quarter. Fifth Third Bancorp now owns 1,699 shares of the financial services provider's stock worth $59,000 after acquiring an additional 522 shares in the last quarter. Finally, Hughes Financial Services LLC bought a new position in United Bankshares in the first quarter worth approximately $60,000. Institutional investors own 70.80% of the company's stock.

Analyst Upgrades and Downgrades

UBSI has been the topic of several recent research reports. Wall Street Zen lowered United Bankshares from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Keefe, Bruyette & Woods cut their target price on United Bankshares from $42.00 to $40.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th. Finally, Zacks Research raised United Bankshares to a "hold" rating in a research report on Friday, August 8th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $40.50.

United Bankshares Stock Performance

United Bankshares stock traded down $0.14 during mid-day trading on Wednesday, reaching $37.06. 479,395 shares of the company's stock were exchanged, compared to its average volume of 693,884. The business's fifty day simple moving average is $36.61 and its 200 day simple moving average is $35.81. The firm has a market capitalization of $5.25 billion, a PE ratio of 13.10 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 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 issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.85 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.08. The business had revenue of $306.00 million for the quarter, compared to analyst estimates 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 posted $0.71 earnings per share. On average, sell-side analysts expect that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Company 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.