NFJ Investment Group LLC Invests $2.93 Million in United Bankshares, Inc. $UBSI

Key Points

• NFJ Investment Group purchased 63,924 United Bankshares shares worth approximately $2.93 million. Institutional investors and hedge funds collectively own 70.8% of UBSI.
• Analysts maintain a generally cautious outlook, with three Buy ratings and four Hold ratings. The consensus rating is Hold, with an average price target of $47.80.
• United Bankshares reported quarterly EPS of $0.95, beating estimates of $0.89, while net margin was 27.97% and return on equity was 9.39%. UBSI opened at $47.70, near its 12-month high of $49.62.

NFJ Investment Group LLC purchased a new stake in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 63,924 shares of the financial services provider's stock, valued at approximately $2,930,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of United Bankshares in the second quarter worth $925,212,000. Norges Bank purchased a new position in shares of United Bankshares in the 4th quarter valued at $68,366,000. Bank of New York Mellon Corp acquired a new position in shares of United Bankshares during the 2nd quarter valued at $60,968,000. Vaughan Nelson Investment Management L.P. acquired a new position in shares of United Bankshares during the 1st quarter valued at $34,476,000. Finally, AQR Capital Management LLC boosted its position in United Bankshares by 74.7% during the 4th quarter. AQR Capital Management LLC now owns 1,625,205 shares of the financial services provider's stock worth $62,408,000 after purchasing an additional 694,953 shares during the period. 70.80% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Hovde Group increased their price target on United Bankshares from $49.00 to $50.00 and gave the company a "market perform" rating in a report on Friday, July 24th. Wall Street Zen upgraded United Bankshares from a "sell" rating to a "hold" rating in a research note on Saturday, July 25th. Raymond James Financial upped their target price on United Bankshares from $49.00 to $50.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 1st. Keefe, Bruyette & Woods increased their target price on United Bankshares from $46.00 to $48.00 and gave the company a "market perform" rating in a research note on Monday, July 27th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of United Bankshares in a report on Monday, July 6th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $47.80.

United Bankshares Price Performance

Shares of UBSI stock opened at $47.70 on Friday. The firm has a fifty day simple moving average of $47.06 and a 200-day simple moving average of $44.24. The company has a market capitalization of $6.50 billion, a PE ratio of 13.00 and a beta of 0.71. United Bankshares, Inc. has a twelve month low of $34.10 and a twelve month high of $49.62. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10.

United Bankshares (NASDAQ:UBSI - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.06. United Bankshares had a net margin of 27.97% and a return on equity of 9.39%. The firm had revenue of $35.72 million for the quarter, compared to the consensus estimate of $320.07 million. During the same quarter in the previous year, the firm posted $0.85 EPS. Equities research analysts anticipate that United Bankshares, Inc. will post 3.71 earnings per share for the current fiscal year.

United Bankshares Company Profile

United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company's core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.

United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.

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