Focus Partners Wealth Purchases 46,863 Shares of United Bankshares, Inc. $UBSI

Key Points

• Focus Partners Wealth has increased its stake in United Bankshares, Inc. by 178.6%, now holding 73,102 shares valued at approximately $2.53 million.
• United Bankshares reported $0.85 earnings per share for the last quarter, surpassing estimates by $0.08, with an overall revenue of $306 million.
• The company has declared a quarterly dividend of $0.37 to be paid on October 1st, reflecting an annualized yield of 4.0% and a payout ratio of 52.30%.

Focus Partners Wealth grew its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 178.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 73,102 shares of the financial services provider's stock after acquiring an additional 46,863 shares during the period. Focus Partners Wealth owned about 0.05% of United Bankshares worth $2,534,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of UBSI. Farther Finance Advisors LLC lifted its holdings in shares of United Bankshares by 726.5% in the first quarter. Farther Finance Advisors LLC now owns 967 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 850 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of United Bankshares by 144.2% in the first 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 holdings in shares of United Bankshares by 226.9% in the first 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 holdings in shares of United Bankshares by 44.4% in the first 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 purchased a new stake in shares of United Bankshares in the first quarter valued at $60,000. Institutional investors and hedge funds own 70.80% of the company's stock.

United Bankshares Stock Performance

UBSI stock traded down $0.40 during trading on Friday, reaching $37.53. 1,660,963 shares of the stock were exchanged, compared to its average volume of 521,672. United Bankshares, Inc. has a twelve month low of $30.50 and a twelve month high of $44.43. The company has a market capitalization of $5.32 billion, a P/E ratio of 13.26 and a beta of 0.82. The stock has a 50 day simple moving average of $37.19 and a 200-day simple moving average of $35.92. 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 (NASDAQ:UBSI - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.85 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.08. United Bankshares had a net margin of 23.14% and a return on equity of 7.65%. The firm had revenue of $306.00 million during the quarter, compared to analysts' expectations of $297.98 million. During the same quarter last year, the company earned $0.71 earnings per share. As a group, sell-side analysts anticipate that United Bankshares, Inc. will post 2.81 earnings per share for the current 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 given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.9%. The ex-dividend date is Friday, September 12th. United Bankshares's payout ratio is 52.30%.

Wall Street Analyst Weigh In

Separately, Zacks Research raised shares of United Bankshares to a "hold" rating in a research note on Friday, August 8th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, United Bankshares has an average rating of "Hold" and an average target price of $40.50.

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.