Deutsche Bank AG Acquires Shares of 126,435 United Bankshares, Inc. $UBSI

Key Points

• Deutsche Bank acquired 126,435 United Bankshares shares in the second quarter, valued at approximately $4.44 million and representing a 0.09% stake. Institutional investors collectively own 70.8% of UBSI.
• United Bankshares exceeded quarterly expectations, reporting $0.95 earnings per share versus the $0.89 consensus and revenue of $323.82 million. Analysts maintain a consensus “Hold” rating with a $47.80 target price.
• The company declared a quarterly dividend of $0.38 per share, or $1.52 annualized, implying a 3.2% yield and a 41.42% payout ratio.

Deutsche Bank AG 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 13F filing with the SEC. The institutional investor purchased 126,435 shares of the financial services provider's stock, valued at approximately $4,437,000. Deutsche Bank AG owned 0.09% of United Bankshares as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of United Bankshares during the third quarter valued at $25,000. Eurizon Capital SGR S.p.A. purchased a new position in United Bankshares in the 4th quarter worth about $26,000. Root Financial Partners LLC increased 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 worth $33,000 after buying an additional 308 shares during the period. Farther Finance Advisors LLC lifted its holdings in United Bankshares by 196.2% during the 4th quarter. Farther Finance Advisors LLC now owns 856 shares of the financial services provider's stock valued at $33,000 after buying an additional 567 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in United Bankshares by 528.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,175 shares of the financial services provider's stock valued at $43,000 after buying an additional 988 shares in the last quarter. 70.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

UBSI has been the subject of several research analyst reports. Raymond James Financial lifted their price target 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. Keefe, Bruyette & Woods increased their price objective on United Bankshares from $46.00 to $48.00 and gave the stock a "market perform" rating in a research note on Monday, July 27th. Wall Street Zen raised United Bankshares from a "sell" rating to a "hold" rating in a research report on Saturday, July 25th. Weiss Ratings reiterated a "buy (b)" rating on shares of United Bankshares in a report on Monday, July 6th. Finally, Hovde Group upped their target price on United Bankshares from $49.00 to $50.00 and gave the stock a "market perform" rating in a report on Friday, July 24th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $47.80.

United Bankshares Trading Down 0.8%

Shares of NASDAQ UBSI opened at $47.41 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.97. The stock has a market capitalization of $6.46 billion, a P/E ratio of 12.92 and a beta of 0.71. United Bankshares, Inc. has a 1-year low of $34.10 and a 1-year high of $49.62. The business has a fifty day moving average price of $47.21 and a 200 day moving average price of $44.32.

United Bankshares (NASDAQ:UBSI - Get Free Report) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.06. The company had revenue of $323.82 million for the quarter, compared to analyst estimates of $320.07 million. United Bankshares had a return on equity of 9.39% and a net margin of 27.97%.During the same quarter in the previous year, the firm earned $0.85 earnings per share. Equities research analysts expect that United Bankshares, Inc. will post 3.71 EPS for the current fiscal year.

United Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be given a $0.38 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.2%. United Bankshares's payout ratio is presently 41.42%.

About United Bankshares

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source