Invesco Ltd. Purchases 80,176 Shares of United Bankshares, Inc. $UBSI

Key Points

• Invesco Ltd. has increased its stake in United Bankshares, Inc. by 8.9%, acquiring an additional 80,176 shares in the first quarter, bringing its total holdings to approximately 0.68% of the company.
• United Bankshares recently reported earnings of $0.85 per share for the quarter ending July 24, which surpassed analysts' expectations of $0.77, alongside a revenue of $306 million compared to the anticipated $298 million.
• Equities analysts have varied opinions on United Bankshares, with one downgrading the stock to a "sell" rating while others maintain a "hold" rating; the average price target has been set at $40.50.

Invesco Ltd. raised its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 8.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 980,553 shares of the financial services provider's stock after buying an additional 80,176 shares during the quarter. Invesco Ltd. owned about 0.68% of United Bankshares worth $33,996,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Cerity Partners LLC grew its position in shares of United Bankshares by 0.8% during the 1st 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. Amalgamated Bank grew its position in shares of United Bankshares by 1.1% during the 1st quarter. Amalgamated Bank now owns 62,509 shares of the financial services provider's stock worth $2,167,000 after buying an additional 698 shares during the period. New York State Teachers Retirement System grew its position in shares of United Bankshares by 0.5% during the 1st 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. State of Alaska Department of Revenue grew its position in shares of United Bankshares by 8.6% during the 1st quarter. State of Alaska Department of Revenue now owns 16,719 shares of the financial services provider's stock worth $579,000 after buying an additional 1,330 shares during the period. Finally, Nomura Holdings Inc. acquired a new position in shares of United Bankshares during the 4th quarter worth about $671,000. 70.80% of the stock is currently owned by institutional investors and hedge funds.

United Bankshares Stock Up 0.9%

NASDAQ:UBSI opened at $37.21 on Tuesday. The firm has a market capitalization of $5.27 billion, a price-to-earnings ratio of 13.15 and a beta of 0.79. United Bankshares, Inc. has a twelve month low of $30.50 and a twelve month high of $44.43. The stock's 50 day moving average price is $36.60 and its two-hundred day moving average price is $35.80. 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 (NASDAQ:UBSI - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.08. The firm had revenue of $306.00 million for 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 previous year, the firm earned $0.71 EPS. Equities research analysts expect that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on UBSI shares. Wall Street Zen cut United Bankshares from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Zacks Research upgraded United Bankshares to a "hold" rating in a report on Friday, August 8th. Finally, Keefe, Bruyette & Woods cut their price objective on United Bankshares from $42.00 to $40.00 and set a "market perform" rating on the stock in a report on Monday, April 28th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $40.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.