Ieq Capital LLC acquired a new stake in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,564 shares of the financial services provider's stock, valued at approximately $1,034,000.
Other large investors have also bought and sold shares of the company. BlackRock Inc. acquired a new position in United Bankshares during the second quarter worth about $925,212,000. Dimensional Fund Advisors LP boosted its position in shares of United Bankshares by 0.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,661,331 shares of the financial services provider's stock valued at $317,327,000 after purchasing an additional 56,808 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of United Bankshares by 5.1% during the 4th quarter. Geode Capital Management LLC now owns 3,802,338 shares of the financial services provider's stock valued at $146,030,000 after purchasing an additional 183,950 shares in the last quarter. Norges Bank acquired a new position in shares of United Bankshares in the 4th quarter worth approximately $68,366,000. Finally, Bank of America Corp DE grew its stake in shares of United Bankshares by 20.5% in the 1st quarter. Bank of America Corp DE now owns 1,631,894 shares of the financial services provider's stock worth $67,593,000 after purchasing an additional 277,836 shares during the last quarter. Institutional investors own 70.80% of the company's stock.
United Bankshares Stock Up 0.1%
Shares of NASDAQ:UBSI opened at $47.45 on Thursday. The firm has a 50 day simple moving average of $47.28 and a 200 day simple moving average of $44.34. United Bankshares, Inc. has a 52 week low of $34.10 and a 52 week high of $49.62. 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 company has a market cap of $6.46 billion, a PE ratio of 12.93 and a beta of 0.71.
United Bankshares (NASDAQ:UBSI - Get Free Report) last released its earnings results on Thursday, July 23rd. The financial services provider reported $0.95 earnings per share for the quarter, beating 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 previous year, the business posted $0.85 EPS. As a group, research analysts expect that United Bankshares, Inc. will post 3.71 earnings per share for the current year.
United Bankshares Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be given 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 is Friday, September 11th. United Bankshares's dividend payout ratio is presently 41.42%.
Analysts Set New Price Targets
Several research firms have issued reports on UBSI. Weiss Ratings restated a "buy (b)" rating on shares of United Bankshares in a research report on Monday, July 6th. Raymond James Financial raised their price objective on 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 lifted 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. Hovde Group boosted their target price on United Bankshares from $49.00 to $50.00 and gave the stock a "market perform" rating in a research report on Friday, July 24th. Finally, Wall Street Zen raised United Bankshares from a "sell" rating to a "hold" rating in a report on Saturday, July 25th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, United Bankshares has an average rating of "Hold" and an average price target of $47.80.
View Our Latest Stock Analysis on UBSI
United Bankshares 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.
Further Reading
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