Gallagher Fiduciary Advisors LLC Buys New Position in United Bankshares, Inc. $UBSI

Gallagher Fiduciary Advisors LLC purchased a new position in shares of United Bankshares, Inc. (NASDAQ:UBSI) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 15,410 shares of the financial services provider’s stock, valued at approximately $706,000.

A number of other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of United Bankshares during the second quarter worth $925,212,000. Dimensional Fund Advisors LP raised its position in shares of United Bankshares by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,661,331 shares of the financial services provider’s stock worth $317,327,000 after acquiring an additional 56,808 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of United Bankshares by 5.1% in the 4th quarter. Geode Capital Management LLC now owns 3,802,338 shares of the financial services provider’s stock valued at $146,030,000 after purchasing an additional 183,950 shares during the period. Norges Bank bought a new stake in shares of United Bankshares during the 4th quarter valued at about $68,366,000. Finally, Bank of America Corp DE grew its stake in United Bankshares by 20.5% during the first quarter. Bank of America Corp DE now owns 1,631,894 shares of the financial services provider’s stock worth $67,593,000 after purchasing an additional 277,836 shares during the period. 70.80% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

United Bankshares Stock Down 0.8%

Shares of NASDAQ:UBSI opened at $47.41 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 0.98. United Bankshares, Inc. has a 52-week low of $34.10 and a 52-week high of $49.62. The business’s 50 day simple moving average is $47.21 and its two-hundred day simple moving average is $44.32. The firm has a market cap of $6.46 billion, a P/E ratio of 12.92 and a beta of 0.71.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.95 EPS for the quarter, beating the consensus estimate of $0.89 by $0.06. United Bankshares had a return on equity of 9.39% and a net margin of 27.97%.The firm had revenue of $323.82 million during the quarter, compared to the consensus estimate of $320.07 million. During the same quarter in the previous year, the company posted $0.85 earnings per share. As a group, research analysts forecast that United Bankshares, Inc. will post 3.71 EPS for the current fiscal year.

United Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be issued a dividend of $0.38 per share. The ex-dividend date is Friday, September 11th. This represents a $1.52 annualized dividend and a yield of 3.2%. United Bankshares’s dividend payout ratio is presently 41.42%.

United Bankshares 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.