Arrowstreet Capital Limited Partnership Has $7.14 Million Stake in United Bankshares, Inc. $UBSI

Arrowstreet Capital Limited Partnership lifted its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 673.5% during the second quarter, HoldingsChannel reports. The firm owned 196,067 shares of the financial services provider’s stock after purchasing an additional 170,720 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in United Bankshares were worth $7,143,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the business. Ameritas Advisory Services LLC acquired a new stake in shares of United Bankshares in the second quarter worth $25,000. Hantz Financial Services Inc. increased its stake in United Bankshares by 261.8% during the second quarter. Hantz Financial Services Inc. now owns 749 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 542 shares during the period. Signaturefd LLC grew its holdings in shares of United Bankshares by 2,281.0% during the 2nd quarter. Signaturefd LLC now owns 1,000 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 958 shares in the last quarter. Allworth Financial LP raised its stake in shares of United Bankshares by 394.1% in the second quarter. Allworth Financial LP now owns 1,265 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 1,009 shares in the last quarter. Finally, Quarry LP increased its holdings in United Bankshares by 404.6% in the 1st quarter. Quarry LP now owns 2,079 shares of the financial services provider’s stock valued at $72,000 after buying an additional 1,667 shares during the period. 70.80% of the stock is owned by institutional investors.

United Bankshares Stock Up 3.0%

Shares of NASDAQ:UBSI opened at $39.28 on Thursday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.10. The firm has a market cap of $5.52 billion, a P/E ratio of 12.88 and a beta of 0.81. United Bankshares, Inc. has a 12 month low of $30.50 and a 12 month high of $41.99. The company’s 50-day moving average price is $36.63 and its two-hundred day moving average price is $36.83.

United Bankshares (NASDAQ:UBSI) last announced its earnings results on Thursday, October 23rd. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.10. United Bankshares had a net margin of 24.37% and a return on equity of 8.15%. The company had revenue of $280.90 million for the quarter, compared to analyst estimates of $307.78 million. During the same period in the prior year, the business earned $0.70 earnings per share. As a group, research analysts forecast that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Friday, December 12th will be paid a $0.38 dividend. This is an increase from United Bankshares’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, December 12th. This represents a $1.52 annualized dividend and a dividend yield of 3.9%. United Bankshares’s payout ratio is 48.52%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Zacks Research raised shares of United Bankshares from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 19th. Weiss Ratings reiterated a “hold (c+)” rating on shares of United Bankshares in a research note on Monday. Finally, Piper Sandler set a $42.50 target price on shares of United Bankshares and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, United Bankshares has a consensus rating of “Moderate Buy” and a consensus price target of $41.83.

About United Bankshares

United Bankshares, Inc, through its subsidiaries, 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.