First Trust Advisors LP Increases Stake in United Bankshares, Inc. $UBSI

Key Points

• Institutional ownership increased: First Trust Advisors raised its United Bankshares stake by 7.5% to 570,961 shares, while institutional investors collectively own 70.8% of UBSI.
• Quarterly results beat expectations: United Bankshares reported earnings of $0.95 per share versus the $0.89 consensus estimate, with revenue of $323.82 million exceeding forecasts.
• Dividend and analyst outlook: The company maintains a $0.38 quarterly dividend, representing a 3.1% yield. Analysts have a consensus “Hold” rating and a $47.80 price target, below the stock’s recent $48.88 price.

First Trust Advisors LP grew its position in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 7.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 570,961 shares of the financial services provider's stock after acquiring an additional 39,712 shares during the period. First Trust Advisors LP owned about 0.41% of United Bankshares worth $23,649,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC increased its stake in shares of United Bankshares by 4.6% during the fourth quarter. Brighton Jones LLC now owns 16,873 shares of the financial services provider's stock valued at $634,000 after purchasing an additional 748 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of United Bankshares by 2.0% during the first quarter. Royal Bank of Canada now owns 66,649 shares of the financial services provider's stock valued at $2,310,000 after purchasing an additional 1,298 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of United Bankshares by 464.1% during the first quarter. Millennium Management LLC now owns 137,336 shares of the financial services provider's stock valued at $4,761,000 after purchasing an additional 112,988 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of United Bankshares by 7.4% in 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 purchasing an additional 28,366 shares in the last quarter. Finally, Jane Street Group LLC boosted its position 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 worth $6,329,000 after purchasing an additional 155,051 shares in the last quarter. Institutional investors own 70.80% of the company's stock.

United Bankshares Stock Performance

UBSI opened at $48.88 on Thursday. The company's 50 day moving average is $45.46 and its 200 day moving average is $43.42. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.10. The company has a market cap of $6.74 billion, a price-to-earnings ratio of 13.32 and a beta of 0.71. United Bankshares, Inc. has a 12-month low of $34.10 and a 12-month high of $49.27.

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, beating analysts' consensus estimates of $0.89 by $0.06. United Bankshares had a net margin of 27.97% and a return on equity of 9.39%. The business had revenue of $323.82 million during the quarter, compared to analysts' expectations of $320.07 million. During the same period in the prior year, the company earned $0.85 earnings per share. On average, equities research analysts predict that United Bankshares, Inc. will post 3.71 EPS for the current year.

United Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Friday, June 12th. United Bankshares's dividend payout ratio (DPR) is currently 41.42%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Wall Street Zen upgraded United Bankshares from a "sell" rating to a "hold" rating in a report on Saturday, July 25th. Raymond James Financial upped their price target on shares of United Bankshares from $49.00 to $50.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 1st. Keefe, Bruyette & Woods increased their price objective on shares of United Bankshares from $46.00 to $48.00 and gave the company a "market perform" rating in a research report on Monday. Hovde Group increased their price objective on shares of United Bankshares from $49.00 to $50.00 and gave the company a "market perform" rating in a research report on Friday, July 24th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of United Bankshares in a research note on Monday, July 6th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $47.80.

United Bankshares Profile

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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