Earnest Partners LLC boosted its position in United Bankshares, Inc. (NASDAQ:UBSI) by 0.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,441,701 shares of the financial services provider’s stock after purchasing an additional 12,377 shares during the quarter. Earnest Partners LLC owned about 1.37% of United Bankshares worth $56,515,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of UBSI. UBS Asset Management Americas Inc. increased its stake in United Bankshares by 45.7% during the 1st quarter. UBS Asset Management Americas Inc. now owns 48,792 shares of the financial services provider’s stock valued at $2,061,000 after buying an additional 15,308 shares during the period. Karp Capital Management Corp acquired a new position in United Bankshares during the 1st quarter valued at about $485,000. Parametric Portfolio Associates LLC increased its stake in United Bankshares by 21.1% during the 1st quarter. Parametric Portfolio Associates LLC now owns 164,816 shares of the financial services provider’s stock valued at $6,963,000 after buying an additional 28,734 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in shares of United Bankshares by 39.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 11,117 shares of the financial services provider’s stock worth $470,000 after purchasing an additional 3,141 shares during the last quarter. Finally, Mason Street Advisors LLC grew its stake in shares of United Bankshares by 7.5% in the 1st quarter. Mason Street Advisors LLC now owns 18,951 shares of the financial services provider’s stock worth $801,000 after purchasing an additional 1,324 shares during the last quarter. Hedge funds and other institutional investors own 62.24% of the company’s stock.
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In related news, Chairman Richard M. Sr Adams, Sr. acquired 7,405 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were acquired at an average price of $33.85 per share, with a total value of $250,659.25. Following the acquisition, the chairman now owns 631,170 shares of the company’s stock, valued at approximately $21,365,104.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William Mark Tatterson acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were bought at an average cost of $32.30 per share, for a total transaction of $32,300.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 15,247 shares of company stock worth $510,526 in the last three months. 6.23% of the stock is currently owned by insiders.
United Bankshares, Inc. (NASDAQ UBSI) traded down 0.40% during mid-day trading on Tuesday, reaching $37.00. 33,642 shares of the company’s stock were exchanged. United Bankshares, Inc. has a 52-week low of $31.70 and a 52-week high of $49.35. The company has a market cap of $3.88 billion, a PE ratio of 19.80 and a beta of 1.06. The stock has a 50-day moving average price of $35.40 and a 200 day moving average price of $37.50.
United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.14). The company had revenue of $176.75 million for the quarter, compared to analysts’ expectations of $164.09 million. United Bankshares had a return on equity of 6.42% and a net margin of 25.20%. During the same period last year, the company posted $0.44 EPS. Equities analysts predict that United Bankshares, Inc. will post $1.92 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 8th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.32 dividend on an annualized basis and a yield of 3.55%. United Bankshares’s dividend payout ratio (DPR) is 69.47%.
United Bankshares declared that its Board of Directors has authorized a share repurchase program on Monday, August 28th that allows the company to repurchase 2,000,000 outstanding shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
Several brokerages have recently issued reports on UBSI. Zacks Investment Research raised shares of United Bankshares from a “sell” rating to a “hold” rating in a research note on Thursday, September 28th. BidaskClub downgraded shares of United Bankshares from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 19th. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $42.50.
United Bankshares Profile
United Bankshares, Inc (United) is a bank holding company. The Company operates through community banking segment. United’s Banking Subsidiaries offer a range of commercial and retail banking services and products. United, through its subsidiaries, engages in community banking and offers banking products and services permitted by law and regulation.
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