46,244 Shares in United Bankshares, Inc. (NASDAQ:UBSI) Acquired by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management Ltd. has made a new investment of approximately $1.60 million in United Bankshares, Inc., acquiring 46,244 shares in the 1st quarter.
• Analysts have downgraded United Bankshares, with Keefe, Bruyette & Woods reducing their price target from $42.00 to $40.00 and maintaining a "market perform" rating.
• United Bankshares announced a quarterly dividend of $0.37, representing an annual dividend yield of 4.1%, with a dividend payout ratio of 52.30%.

Jupiter Asset Management Ltd. acquired a new position in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 46,244 shares of the financial services provider's stock, valued at approximately $1,603,000.

Several other hedge funds also recently made changes to their positions in the company. IFG Advisory LLC purchased a new position in United Bankshares during the first quarter worth about $866,000. Jefferies Financial Group Inc. acquired a new position in United Bankshares during the 1st quarter worth approximately $803,000. US Bancorp DE raised its stake in shares of United Bankshares by 68.8% during the 1st quarter. US Bancorp DE now owns 35,624 shares of the financial services provider's stock worth $1,235,000 after buying an additional 14,516 shares in the last quarter. Eastern Bank acquired a new stake in shares of United Bankshares in the 1st quarter valued at approximately $185,000. Finally, XTX Topco Ltd acquired a new stake in shares of United Bankshares in the 1st quarter valued at approximately $206,000. Institutional investors and hedge funds own 70.80% of the company's stock.

United Bankshares Price Performance

Shares of NASDAQ:UBSI traded up $0.43 during trading on Friday, hitting $35.80. 180,293 shares of the stock were exchanged, compared to its average volume of 793,767. The company has a market cap of $5.09 billion, a PE ratio of 12.65 and a beta of 0.79. 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 company has a fifty day moving average price of $36.48 and a two-hundred day moving average price of $35.91. United Bankshares, Inc. has a 12-month low of $30.50 and a 12-month high of $44.43.

United Bankshares (NASDAQ:UBSI - Get Free Report) last issued 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 firm had revenue of $306.00 million during the quarter, compared to analysts' expectations 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 in the previous year, the firm posted $0.71 earnings per share. On average, analysts forecast that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were paid a $0.37 dividend. 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 is presently 52.30%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on UBSI shares. Keefe, Bruyette & Woods dropped 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. Wall Street Zen cut shares of United Bankshares from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st.

United Bankshares 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.