Fifth Third Bancorp Has $2.03 Million Stock Holdings in United Bankshares, Inc. $UBSI

Key Points

• Fifth Third Bancorp dramatically increased its stake in United Bankshares in the first quarter, boosting holdings by 3,502.9% to 49,035 shares valued at about $2.03 million.
• Other institutional investors also adjusted positions in UBSI, and 70.80% of the stock is owned by institutions and hedge funds, highlighting strong professional investor interest.
• Analyst sentiment is mixed but cautious: the stock has a consensus Hold rating with a consensus price target of $46.60, while United Bankshares also reported earnings that beat estimates and paid a quarterly dividend yielding about 3.2%.

Fifth Third Bancorp raised its holdings in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 3,502.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,035 shares of the financial services provider's stock after buying an additional 47,674 shares during the period. Fifth Third Bancorp's holdings in United Bankshares were worth $2,031,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in UBSI. Oregon Public Employees Retirement Fund increased its position in shares of United Bankshares by 2.1% during the first quarter. Oregon Public Employees Retirement Fund now owns 28,612 shares of the financial services provider's stock worth $1,185,000 after acquiring an additional 600 shares in the last quarter. Abel Hall LLC lifted its position in United Bankshares by 66.0% in the 1st quarter. Abel Hall LLC now owns 12,018 shares of the financial services provider's stock valued at $498,000 after acquiring an additional 4,778 shares in the last quarter. DGS Capital Management LLC boosted its stake in United Bankshares by 65.3% during the 1st quarter. DGS Capital Management LLC now owns 10,506 shares of the financial services provider's stock valued at $435,000 after purchasing an additional 4,151 shares during the last quarter. Appalachian Capital Management Ltd acquired a new position in United Bankshares during the 1st quarter valued at about $207,000. Finally, HB Wealth Management LLC increased its holdings in United Bankshares by 28.8% during the 1st quarter. HB Wealth Management LLC now owns 8,562 shares of the financial services provider's stock worth $355,000 after purchasing an additional 1,915 shares in the last quarter. 70.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Hovde Group began coverage on United Bankshares in a research note on Wednesday, June 24th. They issued a "market perform" rating and a $49.00 price objective for the company. Zacks Research lowered United Bankshares from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 26th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of United Bankshares in a report on Monday, July 6th. Wall Street Zen lowered shares of United Bankshares from a "hold" rating to a "sell" rating in a research note on Saturday, June 13th. Finally, Raymond James Financial raised their price target on shares of United Bankshares from $49.00 to $50.00 and gave the company an "outperform" rating in a research report on Wednesday, July 1st. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $46.60.

United Bankshares Stock Performance

Shares of UBSI stock opened at $46.91 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $6.46 billion, a price-to-earnings ratio of 13.14 and a beta of 0.71. United Bankshares, Inc. has a 52 week low of $34.10 and a 52 week high of $48.22. The firm's 50-day simple moving average is $44.88 and its two-hundred day simple moving average is $43.11.

United Bankshares (NASDAQ:UBSI - Get Free Report) last released its earnings results on Thursday, April 23rd. The financial services provider reported $0.89 earnings per share for the quarter, beating analysts' consensus estimates of $0.85 by $0.04. The firm had revenue of $316.58 million during the quarter, compared to the consensus estimate of $315.15 million. United Bankshares had a net margin of 27.45% and a return on equity of 9.26%. During the same period in the prior year, the firm earned $0.59 EPS. As a group, equities analysts forecast that United Bankshares, Inc. will post 3.64 earnings per share for the current year.

United Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Friday, June 12th. United Bankshares's dividend payout ratio is 42.58%.

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.

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