Ontario Teachers Pension Plan Board acquired a new stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 33,633 shares of the financial services provider’s stock, valued at approximately $1,223,000.
Other institutional investors have also recently bought and sold shares of the company. MetLife Investment Advisors LLC boosted its position in United Bankshares by 2.7% during the 2nd quarter. MetLife Investment Advisors LLC now owns 112,294 shares of the financial services provider’s stock valued at $4,088,000 after acquiring an additional 2,910 shares in the last quarter. Macquarie Group Ltd. boosted its position in United Bankshares by 10.1% during the 2nd quarter. Macquarie Group Ltd. now owns 828,670 shares of the financial services provider’s stock valued at $30,168,000 after acquiring an additional 75,724 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in United Bankshares by 35.1% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 32,382 shares of the financial services provider’s stock valued at $1,179,000 after acquiring an additional 8,408 shares in the last quarter. Sterling Capital Management LLC boosted its position in United Bankshares by 3.3% during the 2nd quarter. Sterling Capital Management LLC now owns 466,243 shares of the financial services provider’s stock valued at $16,971,000 after acquiring an additional 14,993 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in shares of United Bankshares by 4.6% in the 2nd quarter. First Trust Advisors LP now owns 284,557 shares of the financial services provider’s stock worth $10,358,000 after purchasing an additional 12,481 shares in the last quarter. 70.56% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently commented on the company. BidaskClub cut United Bankshares from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 4th. Zacks Investment Research cut United Bankshares from a “hold” rating to a “sell” rating in a research report on Thursday. ValuEngine raised United Bankshares from a “sell” rating to a “hold” rating in a research report on Friday, November 16th. Finally, Boenning Scattergood reissued a “hold” rating on shares of United Bankshares in a research report on Friday, October 26th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. United Bankshares presently has a consensus rating of “Hold” and a consensus price target of $39.33.
Shares of NASDAQ UBSI opened at $35.72 on Friday. United Bankshares, Inc. has a twelve month low of $31.01 and a twelve month high of $39.95. The company has a market capitalization of $3.65 billion, a P/E ratio of 18.80, a PEG ratio of 1.80 and a beta of 1.11. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.47.
United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.01). The firm had revenue of $180.46 million during the quarter, compared to analysts’ expectations of $189.56 million. United Bankshares had a return on equity of 7.64% and a net margin of 25.09%. Sell-side analysts expect that United Bankshares, Inc. will post 2.45 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 14th will be paid a dividend of $0.34 per share. The ex-dividend date is Thursday, December 13th. This represents a $1.36 dividend on an annualized basis and a yield of 3.81%. United Bankshares’s dividend payout ratio is presently 71.58%.
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United Bankshares Profile
United Bankshares, Inc, a financial holding company, primarily provides commercial and retail banking products and services in the United States. It operates through two segments, Community Banking and Mortgage Banking. The company accepts checking, savings, and time and money market accounts; individual retirement accounts; and demand deposits, statement and special savings, and NOW accounts.
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