51,772 Shares in United Bankshares, Inc. $UBSI Acquired by CrossGen Wealth LLC

CrossGen Wealth LLC bought a new stake in United Bankshares, Inc. (NASDAQ:UBSI) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 51,772 shares of the financial services provider’s stock, valued at approximately $1,988,000. United Bankshares accounts for approximately 1.8% of CrossGen Wealth LLC’s holdings, making the stock its 18th biggest position.

A number of other institutional investors have also recently made changes to their positions in UBSI. Dimensional Fund Advisors LP raised its stake in United Bankshares by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 7,741,908 shares of the financial services provider’s stock valued at $288,076,000 after acquiring an additional 24,631 shares during the period. Geode Capital Management LLC increased its stake in shares of United Bankshares by 5.1% in the fourth quarter. Geode Capital Management LLC now owns 3,802,338 shares of the financial services provider’s stock worth $146,030,000 after purchasing an additional 183,950 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of United Bankshares by 1.2% in the third quarter. Victory Capital Management Inc. now owns 3,624,628 shares of the financial services provider’s stock worth $134,872,000 after purchasing an additional 42,255 shares in the last quarter. Norges Bank bought a new stake in shares of United Bankshares in the fourth quarter valued at approximately $68,366,000. Finally, AQR Capital Management LLC raised its position in shares of United Bankshares by 74.7% in the fourth quarter. AQR Capital Management LLC now owns 1,625,205 shares of the financial services provider’s stock valued at $62,408,000 after purchasing an additional 694,953 shares during the period. Hedge funds and other institutional investors own 70.80% of the company’s stock.

United Bankshares Trading Up 0.5%

Shares of UBSI opened at $44.42 on Friday. United Bankshares, Inc. has a twelve month low of $34.10 and a twelve month high of $46.08. The stock has a market cap of $6.12 billion, a PE ratio of 12.44 and a beta of 0.71. 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 business’s 50-day moving average price is $43.60 and its 200-day moving average price is $41.88.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.89 EPS for the quarter, beating the consensus estimate of $0.85 by $0.04. United Bankshares had a net margin of 27.45% and a return on equity of 9.26%. The company had revenue of $316.58 million during the quarter, compared to analysts’ expectations of $315.15 million. During the same quarter in the previous year, the company earned $0.59 earnings per share. On average, equities analysts forecast that United Bankshares, Inc. will post 3.64 EPS for the current fiscal year.

United Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $1.52 annualized dividend and a dividend yield of 3.4%. United Bankshares’s dividend payout ratio is presently 42.58%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on UBSI shares. Zacks Research downgraded shares of United Bankshares from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Wall Street Zen cut shares of United Bankshares from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Finally, Raymond James Financial restated an “outperform” rating and set a $49.00 target price on shares of United Bankshares in a research report on Monday, April 27th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, United Bankshares currently has an average rating of “Moderate Buy” and an average price target of $45.75.

United Bankshares Profile

United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company’s core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.

United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.