Kestra Private Wealth Services LLC increased its stake in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 141.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,957 shares of the financial services provider's stock after purchasing an additional 15,796 shares during the quarter. Kestra Private Wealth Services LLC's holdings in United Bankshares were worth $935,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of United Bankshares by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 14,310,562 shares of the financial services provider's stock worth $537,362,000 after purchasing an additional 115,681 shares during the last quarter. Earnest Partners LLC increased its stake in United Bankshares by 0.7% during the fourth quarter. Earnest Partners LLC now owns 4,199,136 shares of the financial services provider's stock valued at $157,678,000 after purchasing an additional 29,898 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of United Bankshares by 13.7% during the fourth quarter. Northern Trust Corp now owns 1,774,018 shares of the financial services provider's stock valued at $66,614,000 after acquiring an additional 213,441 shares during the period. Norges Bank acquired a new position in shares of United Bankshares during the fourth quarter valued at $54,712,000. Finally, ProShare Advisors LLC boosted its holdings in shares of United Bankshares by 3.9% during the fourth quarter. ProShare Advisors LLC now owns 1,123,987 shares of the financial services provider's stock valued at $42,206,000 after acquiring an additional 41,819 shares during the period. Hedge funds and other institutional investors own 70.80% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have commented on UBSI shares. Wall Street Zen lowered shares of United Bankshares from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Keefe, Bruyette & Woods cut their price target on shares of United Bankshares from $42.00 to $40.00 and set a "market perform" rating for the company in a research note on Monday, April 28th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat.com, United Bankshares currently has an average rating of "Hold" and an average target price of $40.63.
Check Out Our Latest Stock Analysis on United Bankshares
United Bankshares Trading Down 1.1%
NASDAQ:UBSI traded down $0.39 during mid-day trading on Friday, hitting $36.20. The company had a trading volume of 755,848 shares, compared to its average volume of 804,708. United Bankshares, Inc. has a fifty-two week low of $30.50 and a fifty-two week high of $44.43. The business's fifty day moving average is $36.62 and its two-hundred day moving average is $36.02. The firm has a market cap of $5.14 billion, a P/E ratio of 13.46 and a beta of 0.76. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98.
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, beating analysts' consensus estimates of $0.77 by $0.08. United Bankshares had a return on equity of 7.36% and a net margin of 22.35%. The firm had revenue of $306.00 million during the quarter, compared to the consensus estimate of $297.98 million. During the same period last year, the company earned $0.71 earnings per share. As a group, research analysts expect that United Bankshares, Inc. will post 2.81 earnings per share for the current year.
United Bankshares Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were paid a $0.37 dividend. The ex-dividend date was Friday, June 13th. This represents a $1.48 annualized dividend and a dividend yield of 4.09%. United Bankshares's payout ratio is 55.02%.
About United Bankshares
(
Free Report)
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.
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