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

Patton Albertson Miller Group LLC acquired a new stake in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,025 shares of the financial services provider's stock, valued at approximately $348,000.

Other large investors have also modified their holdings of the company. Tower Research Capital LLC TRC lifted its holdings in shares of United Bankshares by 2.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 12,432 shares of the financial services provider's stock valued at $467,000 after purchasing an additional 327 shares in the last quarter. Cerity Partners LLC lifted its stake in United Bankshares by 0.8% in the 1st quarter. Cerity Partners LLC now owns 42,211 shares of the financial services provider's stock worth $1,463,000 after acquiring an additional 346 shares in the last quarter. Teacher Retirement System of Texas boosted its position in United Bankshares by 1.8% during the 1st quarter. Teacher Retirement System of Texas now owns 20,813 shares of the financial services provider's stock worth $722,000 after acquiring an additional 371 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in United Bankshares by 37.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,480 shares of the financial services provider's stock valued at $56,000 after acquiring an additional 400 shares in the last quarter. Finally, Captrust Financial Advisors increased its holdings in shares of United Bankshares by 0.7% in the 4th quarter. Captrust Financial Advisors now owns 73,655 shares of the financial services provider's stock valued at $2,766,000 after purchasing an additional 510 shares during the period. 70.80% of the stock is owned by institutional investors.

United Bankshares Price Performance

Shares of NASDAQ:UBSI traded down $0.05 during trading on Tuesday, hitting $37.10. 876,490 shares of the company were exchanged, compared to its average volume of 678,870. United Bankshares, Inc. has a 1-year low of $30.51 and a 1-year high of $44.43. The company has a market capitalization of $5.27 billion, a P/E ratio of 13.79 and a beta of 0.76. 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 business's 50 day moving average is $36.64 and its 200-day moving average is $36.01.

United Bankshares (NASDAQ:UBSI - Get Free Report) last posted its quarterly earnings data 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). United Bankshares had a net margin of 22.35% and a return on equity of 7.36%. The company had revenue of $289.61 million during the quarter, compared to analyst estimates of $279.02 million. During the same quarter in the previous year, the company earned $0.64 earnings per share. The business's revenue for the quarter was up 13.7% on a year-over-year basis. Equities analysts forecast that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.99%. The ex-dividend date was Friday, June 13th. United Bankshares's dividend payout ratio is presently 55.02%.

Analyst Upgrades and Downgrades

UBSI has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods dropped their price target on shares of United Bankshares from $42.00 to $40.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th. Wall Street Zen lowered shares of 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 assigned a hold rating to the company's stock. According to MarketBeat.com, United Bankshares presently has an average rating of "Hold" and an average target price of $40.63.

About United Bankshares

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.