First Trust Advisors LP Buys 39,712 Shares of United Bankshares, Inc. $UBSI

First Trust Advisors LP grew its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 7.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 570,961 shares of the financial services provider’s stock after buying an additional 39,712 shares during the period. First Trust Advisors LP’s holdings in United Bankshares were worth $23,649,000 as of its most recent filing with the Securities & Exchange Commission.

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

United Bankshares Price Performance

Shares of United Bankshares stock opened at $48.88 on Thursday. The company has a market capitalization of $6.74 billion, a price-to-earnings ratio of 13.32 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 stock’s 50-day simple moving average is $45.46 and its 200-day simple moving average is $43.42. United Bankshares, Inc. has a 52 week low of $34.10 and a 52 week high of $49.27.

United Bankshares (NASDAQ:UBSI) last released its earnings results on Thursday, July 23rd. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.06. United Bankshares had a return on equity of 9.39% and a net margin of 27.97%.The firm had revenue of $323.82 million during the quarter, compared to analysts’ expectations of $320.07 million. During the same quarter last year, the business posted $0.85 earnings per share. As a group, analysts expect that United Bankshares, Inc. will post 3.71 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, June 12th were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $1.52 dividend on an annualized basis and a yield of 3.1%. United Bankshares’s payout ratio is currently 41.42%.

Analysts Set New Price Targets

A number of equities research analysts have commented on UBSI shares. Keefe, Bruyette & Woods raised their target price on shares of United Bankshares from $46.00 to $48.00 and gave the stock a “market perform” rating in a research note on Monday. Weiss Ratings reiterated a “buy (b)” rating on shares of United Bankshares in a research report on Monday, July 6th. Raymond James Financial upped their price target on shares of United Bankshares from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Wall Street Zen raised shares of United Bankshares from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Hovde Group raised their price objective on shares of United Bankshares from $49.00 to $50.00 and gave the company a “market perform” rating in a research report on Friday, July 24th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $47.80.

United Bankshares Company 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.