United Bankshares, Inc. $UBSI Shares Bought by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in United Bankshares by 12.9% in Q1, now owning 140,841 shares valued at $4.88 million.
• United Bankshares reported an EPS of $0.85 for the last quarter, exceeding analysts' expectations, with a revenue of $306 million.
• The company will distribute a quarterly dividend of $0.37 on October 1st, which translates to an annual yield of 3.9%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 12.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 140,841 shares of the financial services provider's stock after purchasing an additional 16,132 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.10% of United Bankshares worth $4,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Earnest Partners LLC lifted its position in United Bankshares by 0.4% during the first quarter. Earnest Partners LLC now owns 4,214,634 shares of the financial services provider's stock valued at $146,121,000 after purchasing an additional 15,498 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of United Bankshares by 1.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,733,488 shares of the financial services provider's stock worth $60,100,000 after acquiring an additional 22,900 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of United Bankshares by 3.9% during the 4th quarter. ProShare Advisors LLC now owns 1,123,987 shares of the financial services provider's stock worth $42,206,000 after acquiring an additional 41,819 shares in the last quarter. Invesco Ltd. boosted its stake in shares of United Bankshares by 8.9% during 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 in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of United Bankshares during the 1st quarter worth about $28,526,000. 70.80% of the stock is currently owned by institutional investors and hedge funds.

United Bankshares Stock Up 0.7%

UBSI opened at $38.09 on Friday. United Bankshares, Inc. has a twelve month low of $30.50 and a twelve month high of $44.43. 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 company has a 50-day moving average price of $37.28 and a 200 day moving average price of $35.85. The company has a market cap of $5.40 billion, a PE ratio of 13.46 and a beta of 0.82.

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

United Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be issued a $0.37 dividend. The ex-dividend date is Friday, September 12th. This represents a $1.48 dividend on an annualized basis and a yield of 3.9%. United Bankshares's dividend payout ratio is presently 52.30%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on UBSI shares. Zacks Research raised shares of United Bankshares to a "hold" rating in a research note on Friday, August 8th. Wall Street Zen lowered shares of United Bankshares from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target 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.

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