IFG Advisory LLC Acquires Shares of 24,985 United Bankshares, Inc. (NASDAQ:UBSI)

IFG Advisory LLC bought a new stake in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 24,985 shares of the financial services provider's stock, valued at approximately $866,000.

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on UBSI. Keefe, Bruyette & Woods reduced their target price on United Bankshares from $42.00 to $40.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th. Wall Street Zen lowered shares of United Bankshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st.

United Bankshares Trading Up 2.1%

Shares of NASDAQ UBSI traded up $0.74 during midday trading on Monday, hitting $35.77. The stock had a trading volume of 803,074 shares, compared to its average volume of 874,239. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.10. United Bankshares, Inc. has a 1-year low of $30.50 and a 1-year high of $44.43. The company has a fifty day moving average price of $36.53 and a 200 day moving average price of $35.93. The company has a market capitalization of $5.08 billion, a price-to-earnings ratio of 12.64 and a beta of 0.79.

United Bankshares (NASDAQ:UBSI - Get Free Report) last announced its earnings results on Thursday, July 24th. The financial services provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.77 by $0.08. The business had revenue of $306.00 million for the quarter, compared to the consensus estimate of $297.98 million. United Bankshares had a return on equity of 7.65% and a net margin of 23.14%. During the same period last year, the business posted $0.71 EPS. On average, analysts predict that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Friday, June 13th. United Bankshares's dividend payout ratio (DPR) is presently 52.30%.

About United Bankshares

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.