Wealth Enhancement Advisory Services LLC Has $1.42 Million Stock Holdings in United Bankshares, Inc. $UBSI

Key Points

• Wealth Enhancement Advisory Services LLC increased its holdings in United Bankshares, Inc. by 60.3% in the second quarter, now owning 36,989 shares worth approximately $1.42 million.
• United Bankshares reported earnings of $0.85 per share for the last quarter, exceeding analysts' expectations by $0.08, with a net margin of 23.14% and revenue of $306 million.
• The company declared a quarterly dividend of $0.37 per share, reflecting a 4.0% dividend yield, to be paid on October 1st to stockholders of record on September 12th.

Wealth Enhancement Advisory Services LLC lifted its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 60.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,989 shares of the financial services provider's stock after buying an additional 13,921 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in United Bankshares were worth $1,421,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of UBSI. Nuveen LLC acquired a new stake in United Bankshares in the 1st quarter valued at about $28,526,000. Jacobs Levy Equity Management Inc. acquired a new stake in United Bankshares in the 1st quarter valued at about $10,856,000. Jane Street Group LLC lifted its stake in United Bankshares by 564.0% in the 1st quarter. Jane Street Group LLC now owns 182,540 shares of the financial services provider's stock valued at $6,329,000 after purchasing an additional 155,051 shares during the last quarter. Millennium Management LLC lifted its stake in United Bankshares by 464.1% in the 1st quarter. Millennium Management LLC now owns 137,336 shares of the financial services provider's stock valued at $4,761,000 after purchasing an additional 112,988 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in United Bankshares by 199.6% in the 1st quarter. Cubist Systematic Strategies LLC now owns 155,550 shares of the financial services provider's stock valued at $5,393,000 after purchasing an additional 103,632 shares during the last quarter. 70.80% of the stock is currently owned by institutional investors and hedge funds.

United Bankshares Price Performance

Shares of NASDAQ:UBSI opened at $37.21 on Wednesday. The firm has a market cap of $5.27 billion, a PE ratio of 13.15 and a beta of 0.82. The firm's fifty day moving average is $37.20 and its 200-day moving average is $36.06. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98. United Bankshares, Inc. has a 52 week low of $30.50 and a 52 week high of $44.43.

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 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 business had revenue of $306.00 million during the quarter, compared to the consensus estimate of $297.98 million. During the same quarter last year, the firm earned $0.71 earnings per share. Sell-side analysts predict 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. Stockholders of record on Friday, September 12th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.48 annualized dividend and a dividend yield of 4.0%. United Bankshares's dividend payout ratio is 52.30%.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded shares of 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, Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $40.50.

United Bankshares 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.

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