Aperio Group LLC lifted its position in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 47.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,395 shares of the financial services provider’s stock after acquiring an additional 16,626 shares during the period. Aperio Group LLC’s holdings in United Bankshares were worth $1,909,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Tower Research Capital LLC TRC bought a new stake in shares of United Bankshares during the second quarter valued at approximately $135,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of United Bankshares by 62.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,053 shares of the financial services provider’s stock valued at $159,000 after acquiring an additional 1,563 shares in the last quarter. Riverhead Capital Management LLC increased its position in shares of United Bankshares by 102.8% during the second quarter. Riverhead Capital Management LLC now owns 5,678 shares of the financial services provider’s stock valued at $223,000 after acquiring an additional 2,878 shares in the last quarter. HighTower Advisors LLC bought a new stake in shares of United Bankshares during the first quarter valued at approximately $254,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of United Bankshares during the second quarter valued at approximately $248,000. 60.54% of the stock is owned by institutional investors.
A number of equities research analysts have commented on the stock. Zacks Investment Research downgraded shares of United Bankshares from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. Boenning Scattergood reaffirmed a “hold” rating on shares of United Bankshares in a research report on Friday, October 27th. Finally, BidaskClub downgraded shares of United Bankshares from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $42.50.
Shares of United Bankshares, Inc. (NASDAQ UBSI) opened at $34.85 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.06 and a quick ratio of 1.04. United Bankshares, Inc. has a 1 year low of $31.70 and a 1 year high of $49.35. The company has a market cap of $3,648.49, a P/E ratio of 18.29, a price-to-earnings-growth ratio of 1.81 and a beta of 1.03.
United Bankshares (NASDAQ:UBSI) last posted its earnings results on Thursday, October 26th. The financial services provider reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). United Bankshares had a return on equity of 6.25% and a net margin of 24.94%. The company had revenue of $188.51 million during the quarter, compared to the consensus estimate of $193.87 million. During the same period last year, the firm posted $0.54 EPS. The company’s revenue for the quarter was up 44.9% on a year-over-year basis. equities analysts expect that United Bankshares, Inc. will post 1.92 earnings per share for the current year.
United Bankshares announced that its Board of Directors has initiated a share repurchase plan on Monday, August 28th that allows the company to buyback 2,000,000 shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend is Thursday, December 7th. This is an increase from United Bankshares’s previous quarterly dividend of $0.33. United Bankshares’s payout ratio is 69.47%.
In other United Bankshares news, Director Gary G. White acquired 1,000 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was purchased at an average price of $33.33 per share, with a total value of $33,330.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 6.23% of the company’s stock.
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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