Deutsche Bank AG purchased a new stake in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 146,119 shares of the financial services provider's stock, valued at approximately $6,697,000. Deutsche Bank AG owned approximately 0.11% of United Bankshares as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd acquired a new stake in shares of United Bankshares in the third quarter worth about $25,000. Eurizon Capital SGR S.p.A. acquired a new stake in United Bankshares in the 4th quarter worth approximately $26,000. Farther Finance Advisors LLC lifted its holdings in United Bankshares by 196.2% in the 4th quarter. Farther Finance Advisors LLC now owns 856 shares of the financial services provider's stock worth $33,000 after purchasing an additional 567 shares during the last quarter. Root Financial Partners LLC boosted its holdings in shares of United Bankshares by 64.4% during 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. Finally, EverSource Wealth Advisors LLC boosted its holdings in United Bankshares by 528.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,175 shares of the financial services provider's stock valued at $43,000 after acquiring an additional 988 shares during the period. 70.80% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
UBSI has been the subject of several research reports. Keefe, Bruyette & Woods increased their price objective on United Bankshares from $46.00 to $48.00 and gave the company a "market perform" rating in a research report on Monday, July 27th. Wall Street Zen upgraded United Bankshares from a "sell" rating to a "hold" rating in a research note on Saturday, July 25th. Hovde Group lifted their price objective on United Bankshares from $49.00 to $50.00 and gave the company a "market perform" rating in a report on Friday, July 24th. Weiss Ratings restated a "buy (b)" rating on shares of United Bankshares in a research note on Monday, July 6th. Finally, Raymond James Financial upped their target price on shares of United Bankshares from $49.00 to $50.00 and gave the stock an "outperform" rating in a report on Wednesday, July 1st. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, United Bankshares has a consensus rating of "Hold" and a consensus target price of $47.80.
Check Out Our Latest Report on United Bankshares
United Bankshares Price Performance
United Bankshares stock opened at $47.80 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 0.98. The firm has a market cap of $6.51 billion, a P/E ratio of 13.02 and a beta of 0.71. The business's fifty day moving average is $47.17 and its two-hundred day moving average is $44.30. United Bankshares, Inc. has a 52 week low of $34.10 and a 52 week 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 EPS for the quarter, topping the consensus estimate of $0.89 by $0.06. United Bankshares had a return on equity of 9.39% and a net margin of 27.97%.The company had revenue of $323.82 million for the quarter, compared to analysts' expectations of $320.07 million. During the same quarter in the prior year, the business earned $0.85 earnings per share. Equities research analysts forecast that United Bankshares, Inc. will post 3.71 earnings per share for the current fiscal year.
United Bankshares Company Profile
(
Free Report)
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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