Edgemoor Investment Advisors Inc. Takes $428,000 Position in United Bankshares, Inc. $UBSI

Edgemoor Investment Advisors Inc. bought a new position in shares of United Bankshares, Inc. (NASDAQ:UBSI) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,497 shares of the financial services provider’s stock, valued at approximately $428,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of UBSI. Ameritas Advisory Services LLC acquired a new stake in shares of United Bankshares during the second quarter worth $25,000. Hantz Financial Services Inc. lifted its position 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 worth $27,000 after buying an additional 542 shares during the period. Bogart Wealth LLC lifted its position in United Bankshares by 655.4% during the third quarter. Bogart Wealth LLC now owns 763 shares of the financial services provider’s stock worth $28,000 after buying an additional 662 shares during the period. EverSource Wealth Advisors LLC boosted its stake in United Bankshares by 528.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,175 shares of the financial services provider’s stock worth $43,000 after buying an additional 988 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in United Bankshares by 394.1% in the 2nd quarter. Allworth Financial LP now owns 1,265 shares of the financial services provider’s stock valued at $46,000 after buying an additional 1,009 shares during the period. 70.80% of the stock is owned by hedge funds and other institutional investors.

United Bankshares Stock Performance

Shares of UBSI stock opened at $45.05 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.10. The company has a market cap of $6.33 billion, a PE ratio of 13.78 and a beta of 0.78. The company’s fifty day simple moving average is $40.46 and its 200-day simple moving average is $38.10. United Bankshares, Inc. has a 52 week low of $30.50 and a 52 week high of $45.92.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.05. The firm had revenue of $430.85 million during the quarter, compared to the consensus estimate of $315.50 million. United Bankshares had a return on equity of 8.60% and a net margin of 25.51%.During the same period in the prior year, the firm earned $0.69 EPS. As a group, equities research analysts anticipate that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 12th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Friday, December 12th. This is an increase from United Bankshares’s previous quarterly dividend of $0.37. United Bankshares’s dividend payout ratio (DPR) is 46.48%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on UBSI. Keefe, Bruyette & Woods increased their price objective on shares of United Bankshares from $40.00 to $43.00 and gave the stock a “market perform” rating in a report on Monday, January 26th. Zacks Research raised shares of United Bankshares from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Stephens lifted their price target on shares of United Bankshares from $40.00 to $44.00 and gave the company an “equal weight” rating in a report on Friday, January 23rd. Piper Sandler restated an “overweight” rating and set a $47.00 price objective on shares of United Bankshares in a report on Monday, January 26th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of United Bankshares in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.67.

About United Bankshares

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.