822,773 Shares in United Bankshares, Inc. $UBSI Purchased by Nuveen LLC

Nuveen LLC acquired a new position in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 822,773 shares of the financial services provider's stock, valued at approximately $28,526,000. Nuveen LLC owned about 0.57% of United Bankshares as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Aigen Investment Management LP bought a new stake in shares of United Bankshares in the 1st quarter worth approximately $714,000. Invesco Ltd. lifted its holdings in shares of United Bankshares by 8.9% in the 1st quarter. Invesco Ltd. now owns 980,553 shares of the financial services provider's stock worth $33,996,000 after acquiring an additional 80,176 shares during the last quarter. Headlands Technologies LLC increased its stake in shares of United Bankshares by 342.8% in the first quarter. Headlands Technologies LLC now owns 9,993 shares of the financial services provider's stock worth $346,000 after buying an additional 7,736 shares during the period. Ontario Teachers Pension Plan Board increased its stake in shares of United Bankshares by 9.3% in the first quarter. Ontario Teachers Pension Plan Board now owns 22,305 shares of the financial services provider's stock worth $773,000 after buying an additional 1,902 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of United Bankshares by 1.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,733,488 shares of the financial services provider's stock worth $60,100,000 after buying an additional 22,900 shares during the period. 70.80% of the stock is currently owned by institutional investors.

United Bankshares Trading Up 4.6%

NASDAQ UBSI traded up $1.6980 during trading on Friday, hitting $38.6080. The company had a trading volume of 132,235 shares, compared to its average volume of 779,814. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.10. United Bankshares, Inc. has a one year low of $30.50 and a one year high of $44.43. The company has a market cap of $5.47 billion, a price-to-earnings ratio of 13.63 and a beta of 0.79. The company's fifty day moving average is $36.62 and its 200-day moving average is $35.81.

United Bankshares (NASDAQ:UBSI - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.77 by $0.08. United Bankshares had a net margin of 23.14% and a return on equity of 7.65%. The business had revenue of $306.00 million during the quarter, compared to analyst estimates of $297.98 million. During the same period in the prior year, the business earned $0.71 EPS. On average, sell-side analysts predict that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

UBSI has been the topic of several analyst reports. Wall Street Zen downgraded shares of United Bankshares from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Keefe, Bruyette & Woods decreased their target price on shares of United Bankshares from $42.00 to $40.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. Finally, Zacks Research raised shares of United Bankshares to a "hold" rating in a research note on Friday, August 8th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $40.50.

United Bankshares 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.