Amundi Purchases 33,511 Shares of United Bankshares, Inc. $UBSI

Amundi boosted its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 204.8% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 49,874 shares of the financial services provider’s stock after buying an additional 33,511 shares during the period. Amundi’s holdings in United Bankshares were worth $2,066,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in UBSI. Brighton Jones LLC raised its holdings in shares of United Bankshares by 4.6% during the 4th quarter. Brighton Jones LLC now owns 16,873 shares of the financial services provider’s stock valued at $634,000 after buying an additional 748 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of United Bankshares by 2.0% in the first quarter. Royal Bank of Canada now owns 66,649 shares of the financial services provider’s stock worth $2,310,000 after buying an additional 1,298 shares during the period. Millennium Management LLC increased its holdings in shares of United Bankshares by 464.1% in the first quarter. Millennium Management LLC now owns 137,336 shares of the financial services provider’s stock worth $4,761,000 after buying an additional 112,988 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of United Bankshares by 7.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 409,428 shares of the financial services provider’s stock valued at $14,195,000 after acquiring an additional 28,366 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of 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 acquiring an additional 155,051 shares during the last quarter. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on UBSI shares. Weiss Ratings restated a “buy (b)” rating on shares of United Bankshares in a research report on Monday, July 6th. Wall Street Zen raised United Bankshares from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Keefe, Bruyette & Woods increased their price objective on United Bankshares from $46.00 to $48.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Hovde Group raised their target price on shares of United Bankshares from $49.00 to $50.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Finally, Raymond James Financial lifted their target price on shares of United Bankshares from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, United Bankshares presently has a consensus rating of “Hold” and an average price target of $47.80.

United Bankshares Trading Down 0.5%

Shares of UBSI opened at $48.32 on Friday. The firm’s 50-day moving average price is $46.21 and its 200-day moving average price is $43.80. The firm has a market capitalization of $6.66 billion, a price-to-earnings ratio of 13.17 and a beta of 0.71. 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, Inc. has a 1-year low of $34.10 and a 1-year high of $49.62.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.06. United Bankshares had a net margin of 27.97% and a return on equity of 9.39%. The company had revenue of $35.72 million during the quarter, compared to the consensus estimate of $320.07 million. During the same period in the prior year, the firm earned $0.85 earnings per share. Sell-side analysts anticipate that United Bankshares, Inc. will post 3.71 EPS for the current year.

United Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th were issued a dividend of $0.38 per share. The ex-dividend date was Friday, June 12th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.1%. United Bankshares’s dividend payout ratio is 41.42%.

United Bankshares Company Profile

United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company’s core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.

United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.