MQS Management LLC acquired a new position in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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% in the first quarter. Amalgamated Bank now owns 62,509 shares of the financial services provider's stock worth $2,167,000 after purchasing an additional 698 shares during the period. New York State Teachers Retirement System lifted its position in United Bankshares by 0.5% in the first quarter. New York State Teachers Retirement System now owns 133,107 shares of the financial services provider's stock worth $4,615,000 after purchasing an additional 600 shares during the period. State of Alaska Department of Revenue lifted its position in shares of United Bankshares by 8.6% during the 1st quarter. State of Alaska Department of Revenue now owns 16,719 shares of the financial services provider's stock valued at $579,000 after acquiring an additional 1,330 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in shares of United Bankshares during the 4th quarter valued at $671,000. Finally, Janus Henderson Group PLC lifted its position in shares of United Bankshares by 5.3% during the 4th quarter. Janus Henderson Group PLC now owns 61,534 shares of the financial services provider's stock valued at $2,310,000 after acquiring an additional 3,100 shares during the last quarter. 70.80% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
UBSI has been the subject of a number of recent research reports. Keefe, Bruyette & Woods cut their price objective on United Bankshares from $42.00 to $40.00 and set a "market perform" rating for the company in a research report on Monday, April 28th. Wall Street Zen downgraded United Bankshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $40.63.
Read Our Latest Stock Analysis on UBSI
United Bankshares Stock Down 3.6%
Shares of UBSI traded down $1.38 during mid-day trading on Tuesday, reaching $36.57. The company's stock had a trading volume of 676,685 shares, compared to its average volume of 668,795. The business has a fifty day moving average of $36.45 and a 200 day moving average of $36.02. The company has a market cap of $5.20 billion, a price-to-earnings ratio of 13.59 and a beta of 0.76. United Bankshares, Inc. has a 1 year low of $30.51 and a 1 year high of $44.43. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.10.
United Bankshares (NASDAQ:UBSI - Get Free Report) last released its 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 business had revenue of $289.61 million during 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%. United Bankshares's revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.64 EPS. As a group, analysts forecast that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.
United Bankshares Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were issued a $0.37 dividend. The ex-dividend date was Friday, June 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.05%. United Bankshares's payout ratio is currently 55.02%.
United Bankshares Company Profile
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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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