United Bankshares, Inc. $UBSI Stock Position Lifted by Systematic Financial Management LP

Key Points

• Systematic Financial Management LP increased its position in United Bankshares by 5.9%, now owning approximately 423,479 shares valued at $14.68 million.
• United Bankshares reported $0.85 earnings per share for the previous quarter, exceeding analysts' expectations of $0.77.
• The company's average price target is $40.50, with mixed ratings from research firms, including a downgrade to "sell" from Wall Street Zen.

Systematic Financial Management LP boosted its holdings in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 5.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 423,479 shares of the financial services provider's stock after buying an additional 23,747 shares during the period. Systematic Financial Management LP owned 0.30% of United Bankshares worth $14,682,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its stake in United Bankshares by 726.5% in the 1st quarter. Farther Finance Advisors LLC now owns 967 shares of the financial services provider's stock worth $33,000 after buying an additional 850 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in shares of United Bankshares by 144.2% in the 1st quarter. Meeder Asset Management Inc. now owns 1,155 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 682 shares in the last quarter. CWM LLC lifted its stake in shares of United Bankshares by 226.9% in the 1st quarter. CWM LLC now owns 1,651 shares of the financial services provider's stock valued at $57,000 after purchasing an additional 1,146 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of United Bankshares by 44.4% in the 1st quarter. Fifth Third Bancorp now owns 1,699 shares of the financial services provider's stock valued at $59,000 after purchasing an additional 522 shares in the last quarter. Finally, Hughes Financial Services LLC acquired a new position in shares of United Bankshares in the 1st quarter valued at about $60,000. 70.80% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods reduced their price objective on 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. Wall Street Zen lowered United Bankshares from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Finally, Zacks Research raised 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 MarketBeat.com, United Bankshares has an average rating of "Hold" and an average price target of $40.50.

United Bankshares Stock Up 0.9%

Shares of UBSI traded up $0.36 during trading on Tuesday, reaching $38.50. The company's stock had a trading volume of 685,417 shares, compared to its average volume of 621,142. The company has a fifty day moving average of $36.83 and a two-hundred day moving average of $35.78. United Bankshares, Inc. has a twelve month low of $30.50 and a twelve month high of $44.43. The company has a market cap of $5.45 billion, a price-to-earnings ratio of 13.60 and a beta of 0.79. 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 announced its earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.08. United Bankshares had a return on equity of 7.65% and a net margin of 23.14%.The company had revenue of $306.00 million for the quarter, compared to analyst estimates of $297.98 million. During the same period in the prior year, the company posted $0.71 EPS. On average, sell-side analysts predict that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Friday, September 12th. United Bankshares's dividend payout ratio is presently 52.30%.

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.