Ameritas Investment Partners Inc. increased its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 210.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,260 shares of the financial services provider’s stock after buying an additional 36,786 shares during the period. Ameritas Investment Partners Inc. owned about 0.05% of United Bankshares worth $2,126,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in UBSI. Tower Research Capital LLC TRC purchased a new position in shares of United Bankshares during the 2nd quarter worth about $135,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of United Bankshares by 62.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,053 shares of the financial services provider’s stock worth $159,000 after acquiring an additional 1,563 shares during the period. Piedmont Investment Advisors LLC purchased a new position in shares of United Bankshares during the 1st quarter worth about $205,000. Two Sigma Securities LLC purchased a new position in shares of United Bankshares during the 1st quarter worth about $212,000. Finally, Riverhead Capital Management LLC lifted its holdings in shares of United Bankshares by 102.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,678 shares of the financial services provider’s stock worth $223,000 after acquiring an additional 2,878 shares during the period. Institutional investors own 62.25% of the company’s stock.
In related news, Chairman Richard M. Sr Adams, Sr. acquired 7,405 shares of the stock in a transaction on Tuesday, August 15th. The stock was acquired at an average cost of $33.85 per share, for a total transaction of $250,659.25. Following the completion of the acquisition, the chairman now directly owns 631,170 shares of the company’s stock, valued at approximately $21,365,104.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gary G. White acquired 1,000 shares of the stock in a transaction on Monday, September 11th. The stock was bought at an average price of $33.33 per share, with a total value of $33,330.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 15,247 shares of company stock valued at $510,526. 6.23% of the stock is currently owned by company insiders.
A number of research firms recently issued reports on UBSI. BidaskClub raised shares of United Bankshares from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Zacks Investment Research upgraded United Bankshares from a “sell” rating to a “hold” rating in a research note on Thursday, September 28th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $42.50.
Shares of United Bankshares, Inc. (NASDAQ UBSI) traded up 0.27% on Friday, hitting $37.40. The stock had a trading volume of 95,016 shares. The company has a market cap of $3.93 billion, a price-to-earnings ratio of 20.01 and a beta of 1.07. United Bankshares, Inc. has a 52 week low of $31.70 and a 52 week high of $49.35. The firm has a 50 day moving average price of $35.24 and a 200-day moving average price of $37.58.
United Bankshares (NASDAQ:UBSI) last released its earnings results on Thursday, July 27th. The financial services provider reported $0.37 EPS for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.14). The firm had revenue of $176.75 million during the quarter, compared to the consensus estimate of $164.09 million. United Bankshares had a net margin of 25.20% and a return on equity of 6.42%. During the same period in the prior year, the company earned $0.44 EPS. Analysts anticipate that United Bankshares, Inc. will post $1.92 EPS for the current year.
United Bankshares announced that its Board of Directors has approved a stock buyback program on Monday, August 28th that authorizes the company to repurchase 2,000,000 shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were given a dividend of $0.33 per share. The ex-dividend date was Thursday, September 7th. This represents a $1.32 annualized dividend and a yield of 3.54%. United Bankshares’s payout ratio is 69.47%.
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United Bankshares Company 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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