United Bankshares, Inc. $UBSI Shares Purchased by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services LLC significantly increased its stake in United Bankshares, acquiring an additional 21,261 shares, which represents a 284.0% increase, bringing their total ownership to 28,748 shares valued at approximately $997,000.
• Research analysts have mixed opinions on United Bankshares, with Wall Street Zen downgrading the stock from "hold" to "sell," while Zacks Research upgraded it to a "hold," resulting in an average rating of "Hold" and a price target of $40.50.
• United Bankshares announced a quarterly dividend of $0.37 per share, with a dividend yield of 3.9%, signifying their commitment to returning value to shareholders.

Kestra Advisory Services LLC boosted its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 284.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,748 shares of the financial services provider's stock after acquiring an additional 21,261 shares during the quarter. Kestra Advisory Services LLC's holdings in United Bankshares were worth $997,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Summit Financial LLC grew its stake in shares of United Bankshares by 50.6% in the first quarter. Summit Financial LLC now owns 17,802 shares of the financial services provider's stock valued at $617,000 after buying an additional 5,984 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of United Bankshares by 61.4% in the first quarter. Hsbc Holdings PLC now owns 40,682 shares of the financial services provider's stock valued at $1,404,000 after buying an additional 15,480 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of United Bankshares by 7.7% in the first quarter. Russell Investments Group Ltd. now owns 42,163 shares of the financial services provider's stock valued at $1,462,000 after buying an additional 3,002 shares in the last quarter. Nuveen LLC acquired a new stake in shares of United Bankshares in the first quarter valued at $28,526,000. Finally, Aigen Investment Management LP acquired a new position in United Bankshares during the 1st quarter worth $714,000. 70.80% of the stock is owned by institutional investors and hedge funds.

United Bankshares Stock Performance

Shares of UBSI stock traded up $0.60 during trading hours on Thursday, reaching $38.65. 397,643 shares of the company's stock were exchanged, compared to its average volume of 771,543. United Bankshares, Inc. has a 1 year low of $30.50 and a 1 year high of $44.43. The company has a market cap of $5.47 billion, a P/E ratio of 13.66 and a beta of 0.82. The company's 50 day moving average is $37.17 and its two-hundred day moving average is $35.80. 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 released 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 company had revenue of $306.00 million during 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 quarter last year, the business posted $0.71 earnings per share. Equities research analysts anticipate that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be issued a dividend of $0.37 per share. The ex-dividend date is Friday, September 12th. This represents a $1.48 annualized dividend and a dividend yield of 3.8%. United Bankshares's dividend payout ratio (DPR) is 52.30%.

Analyst Ratings Changes

Several research firms recently commented on UBSI. Zacks Research raised United Bankshares to a "hold" rating in a research note on Friday, August 8th. Wall Street Zen cut United Bankshares from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of "Hold" and an average 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.