Intech Investment Management LLC Has $2.15 Million Stake in United Bankshares, Inc. $UBSI

Key Points

• Intech Investment Management LLC increased its stake in United Bankshares by 20.8%, acquiring an additional 10,668 shares, bringing its total holdings to 61,971 shares valued at $2,149,000.
• Several large investors have significantly boosted their holdings in United Bankshares, with Focus Partners Wealth increasing by 178.6% and Jane Street Group LLC by 564.0%.
• United Bankshares recently declared a quarterly dividend of $0.37 per share, resulting in a 4.0% yield and a dividend payout ratio of 52.30%.

Intech Investment Management LLC grew its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 20.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,971 shares of the financial services provider's stock after buying an additional 10,668 shares during the quarter. Intech Investment Management LLC's holdings in United Bankshares were worth $2,149,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Cerity Partners LLC grew its stake in United Bankshares by 0.8% during the first quarter. Cerity Partners LLC now owns 42,211 shares of the financial services provider's stock worth $1,463,000 after buying an additional 346 shares during the period. Teacher Retirement System of Texas grew its stake in United Bankshares by 1.8% during the first quarter. Teacher Retirement System of Texas now owns 20,813 shares of the financial services provider's stock worth $722,000 after buying an additional 371 shares during the period. Fifth Third Bancorp grew its stake in United Bankshares by 44.4% during the first quarter. Fifth Third Bancorp now owns 1,699 shares of the financial services provider's stock worth $59,000 after buying an additional 522 shares during the period. New York State Teachers Retirement System grew its stake in United Bankshares by 0.5% during the first quarter. New York State Teachers Retirement System now owns 133,107 shares of the financial services provider's stock worth $4,615,000 after buying an additional 600 shares during the period. Finally, Securian Asset Management Inc. boosted its stake in shares of United Bankshares by 6.3% in the first quarter. Securian Asset Management Inc. now owns 10,842 shares of the financial services provider's stock valued at $376,000 after purchasing an additional 644 shares during the period. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of United Bankshares to a "hold" rating in a research note on Friday, August 8th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $40.50.

United Bankshares Price Performance

UBSI traded down $0.40 on Friday, reaching $37.53. The company had a trading volume of 1,660,963 shares, compared to its average volume of 521,672. The company has a fifty day moving average of $37.19 and a 200-day moving average of $35.92. The company has a market capitalization of $5.32 billion, a P/E ratio of 13.26 and a beta of 0.82. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.10. United Bankshares, Inc. has a one year low of $30.50 and a one year high of $44.43.

United Bankshares (NASDAQ:UBSI - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.08. The company had revenue of $306.00 million for the quarter, compared to analysts' expectations of $297.98 million. United Bankshares had a net margin of 23.14% and a return on equity of 7.65%. During the same quarter in the previous year, the company posted $0.71 EPS. As a group, equities research analysts anticipate that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.9%. The ex-dividend date is Friday, September 12th. United Bankshares's dividend payout ratio 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.