EP Wealth Advisors LLC bought a new position in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 86,817 shares of the financial services provider's stock, valued at approximately $3,979,000. EP Wealth Advisors LLC owned 0.06% of United Bankshares at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC increased its stake in United Bankshares by 4.6% in the 4th quarter. Brighton Jones LLC now owns 16,873 shares of the financial services provider's stock valued at $634,000 after buying an additional 748 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of United Bankshares by 2.0% during the 1st quarter. Royal Bank of Canada now owns 66,649 shares of the financial services provider's stock worth $2,310,000 after buying an additional 1,298 shares during the last quarter. Millennium Management LLC boosted its stake in shares of United Bankshares by 464.1% during the 1st quarter. Millennium Management LLC now owns 137,336 shares of the financial services provider's stock worth $4,761,000 after buying an additional 112,988 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of United Bankshares by 7.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 409,428 shares of the financial services provider's stock worth $14,195,000 after buying an additional 28,366 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of United Bankshares by 564.0% in the 1st quarter. Jane Street Group LLC now owns 182,540 shares of the financial services provider's stock valued at $6,329,000 after acquiring an additional 155,051 shares in the last quarter. 70.80% of the stock is owned by institutional investors.
United Bankshares Trading Up 0.2%
Shares of NASDAQ:UBSI opened at $47.81 on Friday. United Bankshares, Inc. has a 52-week low of $34.10 and a 52-week high of $49.62. The company has a market capitalization of $6.51 billion, a P/E ratio of 13.03 and a beta of 0.71. The company has a 50-day simple moving average of $47.11 and a 200 day simple moving average of $44.27. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 0.98.
United Bankshares (NASDAQ:UBSI - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.06. The firm had revenue of $35.72 million during the quarter, compared to analysts' expectations of $320.07 million. United Bankshares had a net margin of 27.97% and a return on equity of 9.39%. During the same period in the previous year, the business posted $0.85 earnings per share. Sell-side analysts forecast that United Bankshares, Inc. will post 3.71 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on UBSI. Keefe, Bruyette & Woods upped their target price on United Bankshares from $46.00 to $48.00 and gave the stock a "market perform" rating in a 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. Weiss Ratings reaffirmed a "buy (b)" rating on shares of United Bankshares in a research report on Monday, July 6th. Hovde Group upped their price objective on United Bankshares from $49.00 to $50.00 and gave the stock a "market perform" rating in a research note on Friday, July 24th. Finally, Raymond James Financial increased their price objective on United Bankshares from $49.00 to $50.00 and gave the company an "outperform" rating in a report on Wednesday, July 1st. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, United Bankshares currently has a consensus rating of "Hold" and an average target price of $47.80.
View Our Latest Stock Analysis on United Bankshares
About United Bankshares
(
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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