Raymond James Financial Services Advisors Inc. increased its position in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 26.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,573 shares of the financial services provider’s stock after purchasing an additional 4,068 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in United Bankshares were worth $727,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in UBSI. Tower Research Capital LLC TRC purchased a new position in United Bankshares during the 2nd quarter worth approximately $135,000. Zurcher Kantonalbank Zurich Cantonalbank grew 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 valued at $159,000 after acquiring an additional 1,563 shares in the last quarter. Riverhead Capital Management LLC lifted its stake in shares of United Bankshares by 102.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,678 shares of the financial services provider’s stock valued at $223,000 after purchasing an additional 2,878 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of United Bankshares in the 2nd quarter valued at $248,000. Finally, World Asset Management Inc lifted its stake in shares of United Bankshares by 29.6% in the 2nd quarter. World Asset Management Inc now owns 6,557 shares of the financial services provider’s stock valued at $257,000 after purchasing an additional 1,499 shares during the last quarter. 65.56% of the stock is currently owned by hedge funds and other institutional investors.
United Bankshares, Inc. (UBSI) opened at $35.15 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.46. The firm has a market cap of $3,695.73, a P/E ratio of 18.53, a P/E/G ratio of 1.84 and a beta of 1.05. United Bankshares, Inc. has a twelve month low of $31.70 and a twelve month high of $48.85.
United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.01). The company had revenue of $188.51 million for the quarter, compared to the consensus estimate of $193.87 million. United Bankshares had a return on equity of 6.25% and a net margin of 24.94%. The firm’s revenue was up 44.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.54 EPS. equities analysts predict that United Bankshares, Inc. will post 1.92 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders 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 dividend yield of 3.87%. 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 dividend payout ratio (DPR) is 71.58%.
United Bankshares announced that its board has initiated a share repurchase program on Monday, August 28th that authorizes the company to buyback 2,000,000 shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
A number of research firms have weighed in on UBSI. Zacks Investment Research raised shares of United Bankshares from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. BidaskClub cut shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of United Bankshares in a research note on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. United Bankshares has a consensus rating of “Hold” and a consensus price target of $44.50.
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About United Bankshares
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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