Bank of New York Mellon Corp Purchases 10,646 Shares of United Bankshares, Inc. $UBSI

Bank of New York Mellon Corp grew its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 0.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,362,254 shares of the financial services provider’s stock after purchasing an additional 10,646 shares during the quarter. Bank of New York Mellon Corp’s holdings in United Bankshares were worth $56,425,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Brighton Jones LLC raised its position in United Bankshares by 4.6% in the fourth quarter. Brighton Jones LLC now owns 16,873 shares of the financial services provider’s stock worth $634,000 after acquiring an additional 748 shares during the period. Royal Bank of Canada increased its stake in shares of United Bankshares by 2.0% in the 1st quarter. Royal Bank of Canada now owns 66,649 shares of the financial services provider’s stock worth $2,310,000 after purchasing an additional 1,298 shares in the last quarter. Millennium Management LLC raised its holdings in United Bankshares by 464.1% in the 1st quarter. Millennium Management LLC now owns 137,336 shares of the financial services provider’s stock worth $4,761,000 after purchasing an additional 112,988 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in United Bankshares by 7.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 409,428 shares of the financial services provider’s stock worth $14,195,000 after purchasing an additional 28,366 shares during the period. Finally, Jane Street Group LLC lifted its position in United Bankshares by 564.0% during the first quarter. Jane Street Group LLC now owns 182,540 shares of the financial services provider’s stock valued at $6,329,000 after purchasing an additional 155,051 shares in the last quarter. Institutional investors own 70.80% of the company’s stock.

United Bankshares Trading Up 1.0%

Shares of United Bankshares stock opened at $47.36 on Friday. United Bankshares, Inc. has a fifty-two week low of $34.10 and a fifty-two week high of $48.22. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $6.53 billion, a P/E ratio of 13.27 and a beta of 0.71. The company has a fifty day moving average of $44.98 and a 200 day moving average of $43.17.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.06. United Bankshares had a return on equity of 9.26% and a net margin of 27.45%.The business had revenue of $323.82 million for the quarter, compared to analysts’ expectations of $320.07 million. During the same period last year, the firm earned $0.85 earnings per share. On average, sell-side analysts anticipate that United Bankshares, Inc. will post 3.64 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, June 12th were given a dividend of $0.38 per share. The ex-dividend date was Friday, June 12th. This represents a $1.52 annualized dividend and a dividend yield of 3.2%. United Bankshares’s dividend payout ratio (DPR) is currently 42.58%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on UBSI shares. Weiss Ratings reissued a “buy (b)” rating on shares of United Bankshares in a report on Monday, July 6th. Hovde Group started coverage on United Bankshares in a research note on Wednesday, June 24th. They issued a “market perform” rating and a $49.00 price objective on the stock. Zacks Research cut United Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Wall Street Zen downgraded United Bankshares from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Finally, Raymond James Financial increased their target price on shares of United Bankshares from $49.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $46.60.

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.