Crown Wealth Group LLC Invests $1.20 Million in United Bankshares, Inc. $UBSI

Key Points

• Crown Wealth Group LLC invested approximately $1.20 million in United Bankshares, Inc. by purchasing 33,031 shares during the 2nd quarter.
• As of the latest reports, the stock has a consensus rating of "Hold" and a price target of $40.50 according to Zacks Research.
• United Bankshares recently announced a quarterly dividend of $0.37 per share, yielding about 4.0% annually, with the ex-dividend date set for September 12th.

Crown Wealth Group LLC purchased a new stake in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 33,031 shares of the financial services provider's stock, valued at approximately $1,203,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of UBSI. Farther Finance Advisors LLC raised its position 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 valued at $33,000 after purchasing an additional 850 shares during the period. Meeder Asset Management Inc. raised its holdings in United Bankshares by 144.2% in the 1st quarter. Meeder Asset Management Inc. now owns 1,155 shares of the financial services provider's stock valued at $40,000 after buying an additional 682 shares during the period. CWM LLC raised its holdings in United Bankshares by 226.9% in the 1st quarter. CWM LLC now owns 1,651 shares of the financial services provider's stock valued at $57,000 after buying an additional 1,146 shares during the period. Fifth Third Bancorp lifted its position 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 valued at $59,000 after buying an additional 522 shares during the last quarter. Finally, Hughes Financial Services LLC purchased a new position in United Bankshares during the first quarter worth about $60,000. 70.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised shares of United Bankshares to a "hold" rating in a research note on Friday, August 8th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $40.50.

United Bankshares Price Performance

UBSI opened at $37.32 on Friday. The stock's 50-day moving average price is $37.20 and its 200 day moving average price is $35.98. United Bankshares, Inc. has a 12-month low of $30.50 and a 12-month high of $44.43. The firm has a market cap of $5.29 billion, a price-to-earnings ratio of 13.19 and a beta of 0.82. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.10.

United Bankshares (NASDAQ:UBSI - Get Free Report) last released its earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.08. The company had revenue of $306.00 million during the quarter, compared to the consensus estimate 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 in the previous year, the company posted $0.71 EPS. As a group, sell-side analysts expect that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Friday, September 12th. United Bankshares's dividend payout ratio is presently 52.30%.

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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