24,985 Shares in United Bankshares, Inc. (NASDAQ:UBSI) Purchased by IFG Advisory LLC

IFG Advisory LLC bought a new stake in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 24,985 shares of the financial services provider's stock, valued at approximately $866,000.

Several other hedge funds also recently bought and sold shares of UBSI. Farther Finance Advisors LLC increased its stake in shares of United Bankshares by 726.5% during the first quarter. Farther Finance Advisors LLC now owns 967 shares of the financial services provider's stock worth $33,000 after acquiring an additional 850 shares during the period. Meeder Asset Management Inc. lifted its holdings in United Bankshares by 144.2% in the 1st quarter. Meeder Asset Management Inc. now owns 1,155 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 682 shares in the last quarter. CWM LLC lifted its stake in shares of United Bankshares by 226.9% during the first quarter. CWM LLC now owns 1,651 shares of the financial services provider's stock valued at $57,000 after buying an additional 1,146 shares during the period. Fifth Third Bancorp grew its position in shares of United Bankshares by 44.4% in the first quarter. Fifth Third Bancorp now owns 1,699 shares of the financial services provider's stock valued at $59,000 after purchasing an additional 522 shares during the period. Finally, Hughes Financial Services LLC purchased a new position in United Bankshares during the first quarter worth approximately $60,000. Hedge funds and other institutional investors own 70.80% of the company's stock.

Wall Street Analysts Forecast Growth

UBSI has been the subject of several recent research reports. Wall Street Zen downgraded shares of United Bankshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Keefe, Bruyette & Woods lowered their price target on United Bankshares from $42.00 to $40.00 and set a "market perform" rating for the company in a report on Monday, April 28th.

United Bankshares Price Performance

UBSI stock traded down $0.29 during trading on Thursday, hitting $35.34. The company had a trading volume of 208,419 shares, compared to its average volume of 795,445. 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 firm has a market capitalization of $5.02 billion, a price-to-earnings ratio of 12.50 and a beta of 0.79. The business has a 50 day moving average of $36.50 and a 200 day moving average of $35.93. United Bankshares, Inc. has a fifty-two week low of $30.50 and a fifty-two week high of $44.43.

United Bankshares (NASDAQ:UBSI - Get Free Report) last released its earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.08. The company had revenue of $306.00 million during the quarter, compared to analyst estimates of $297.98 million. United Bankshares had a return on equity of 7.65% and a net margin of 23.14%. During the same quarter in the prior year, the company earned $0.71 earnings per share. As a group, research analysts predict that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were paid a dividend of $0.37 per share. The ex-dividend date was Friday, June 13th. This represents a $1.48 dividend on an annualized basis and a yield of 4.2%. United Bankshares's payout ratio is currently 52.30%.

United Bankshares Company Profile

United Bankshares, Inc, through its subsidiaries, primarily provides commercial and retail banking products and services in the United States. It operates through two segments, Community Banking and Mortgage Banking. The company accepts checking, savings, and time and money market accounts; individual retirement accounts; and demand deposits, statement and special savings, and NOW accounts.