Jacobs Levy Equity Management Inc. Invests $10.86 Million in United Bankshares, Inc. $UBSI

Jacobs Levy Equity Management Inc. acquired 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 SEC. The institutional investor acquired 313,131 shares of the financial services provider's stock, valued at approximately $10,856,000. Jacobs Levy Equity Management Inc. owned about 0.22% of United Bankshares as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in UBSI. Farther Finance Advisors LLC raised its stake in United Bankshares by 726.5% in the 1st quarter. Farther Finance Advisors LLC now owns 967 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 850 shares during the last quarter. Meeder Asset Management Inc. grew its holdings 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 period. CWM LLC boosted its holdings in United Bankshares by 226.9% during the 1st quarter. CWM LLC now owns 1,651 shares of the financial services provider's stock valued at $57,000 after acquiring an additional 1,146 shares during the period. Fifth Third Bancorp boosted its holdings in United Bankshares by 44.4% during the 1st quarter. Fifth Third Bancorp now owns 1,699 shares of the financial services provider's stock valued at $59,000 after acquiring an additional 522 shares during the period. Finally, Hughes Financial Services LLC purchased a new position in shares of United Bankshares in the 1st quarter valued at about $60,000. 70.80% of the stock is owned by institutional investors and hedge funds.

United Bankshares Stock Up 0.1%

UBSI traded up $0.05 during trading on Wednesday, reaching $37.83. 351,895 shares of the stock traded hands, compared to its average volume of 512,453. United Bankshares, Inc. has a fifty-two week low of $30.50 and a fifty-two week high of $44.43. The stock's 50-day simple moving average is $37.28 and its two-hundred day simple moving average is $35.83. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of 13.37 and a beta of 0.82. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.98.

United Bankshares (NASDAQ:UBSI - Get Free Report) last posted 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. United Bankshares had a net margin of 23.14% and a return on equity of 7.65%. The business had revenue of $306.00 million for the quarter, compared to analyst estimates of $297.98 million. During the same period last year, the business posted $0.71 EPS. As a group, equities research analysts expect that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.48 annualized dividend and a yield of 3.9%. United Bankshares's dividend payout ratio is 52.30%.

Analyst Upgrades and Downgrades

UBSI has been the topic of several research analyst reports. Wall Street Zen lowered United Bankshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Zacks Research raised United Bankshares to a "hold" rating in a research report on Friday, August 8th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $40.50.

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.