Patton Albertson Miller Group LLC Makes New $348,000 Investment in United Bankshares, Inc. (NASDAQ:UBSI)

Patton Albertson Miller Group LLC purchased a new stake 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 purchased 10,025 shares of the financial services provider's stock, valued at approximately $348,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Amalgamated Bank grew its stake in shares of 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 acquiring an additional 698 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in shares of 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 acquiring an additional 600 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of 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 acquiring an additional 1,330 shares during the period. Nomura Holdings Inc. bought a new position in shares of United Bankshares during the fourth quarter valued at $671,000. Finally, Janus Henderson Group PLC increased its stake in shares of United Bankshares by 5.3% in 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 in the last quarter. 70.80% of the stock is owned by institutional investors and hedge funds.

United Bankshares Stock Performance

Shares of UBSI stock traded down $0.18 during trading on Friday, reaching $37.30. 2,669,971 shares of the company's stock were exchanged, compared to its average volume of 677,933. 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 $5.30 billion, a PE ratio of 13.87 and a beta of 0.76. United Bankshares, Inc. has a twelve month low of $30.51 and a twelve month high of $44.43. The firm's fifty day moving average price is $36.64 and its 200-day moving average price is $36.02.

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 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 the consensus estimate 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 quarter in the previous year, the company posted $0.64 earnings per share. As a group, sell-side analysts anticipate that United Bankshares, Inc. will post 2.81 EPS 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 given a $0.37 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.48 annualized dividend and a yield of 3.97%. United Bankshares's dividend payout ratio is presently 55.02%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on UBSI shares. Keefe, Bruyette & Woods decreased their target price 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 lowered 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 given a hold rating to the company. According to data from MarketBeat.com, United Bankshares presently has a consensus rating of "Hold" and an average price target of $40.63.

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.