MQS Management LLC Buys New Stake in United Bankshares, Inc. (NASDAQ:UBSI)

MQS Management LLC acquired a new stake in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,550 shares of the financial services provider's stock, valued at approximately $296,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Amalgamated Bank lifted its position in United Bankshares by 1.1% during the first quarter. Amalgamated Bank now owns 62,509 shares of the financial services provider's stock valued at $2,167,000 after buying an additional 698 shares during the period. New York State Teachers Retirement System lifted its position in United Bankshares by 0.5% during the first quarter. New York State Teachers Retirement System now owns 133,107 shares of the financial services provider's stock valued at $4,615,000 after buying an additional 600 shares during the period. State of Alaska Department of Revenue lifted its position in United Bankshares by 8.6% during the first quarter. State of Alaska Department of Revenue now owns 16,719 shares of the financial services provider's stock valued at $579,000 after buying an additional 1,330 shares during the period. Nomura Holdings Inc. purchased a new position in United Bankshares during the fourth quarter valued at $671,000. Finally, Janus Henderson Group PLC lifted its position in United Bankshares by 5.3% during the fourth quarter. Janus Henderson Group PLC now owns 61,534 shares of the financial services provider's stock valued at $2,310,000 after buying an additional 3,100 shares during the period. Hedge funds and other institutional investors own 70.80% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on UBSI shares. Keefe, Bruyette & Woods reduced their price target on United Bankshares from $42.00 to $40.00 and set a "market perform" rating for the company in a report on Monday, April 28th. Wall Street Zen downgraded United Bankshares from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat.com, United Bankshares has a consensus rating of "Hold" and an average target price of $40.63.

United Bankshares Stock Performance

Shares of NASDAQ UBSI traded down $0.22 during trading on Friday, reaching $37.26. 508,662 shares of the company traded hands, compared to its average volume of 668,799. The firm has a 50 day simple moving average of $36.61 and a 200-day simple moving average of $36.03. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $5.29 billion, a PE ratio of 13.86 and a beta of 0.76. United Bankshares, Inc. has a 52-week low of $30.51 and a 52-week high of $44.43.

United Bankshares (NASDAQ:UBSI - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.66 by ($0.07). The company had revenue of $289.61 million for the quarter, compared to analysts' expectations of $279.02 million. United Bankshares had a net margin of 22.35% and a return on equity of 7.36%. The business's revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 EPS. Equities research analysts anticipate that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend was Friday, June 13th. United Bankshares's payout ratio is 55.02%.

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.