Gallagher Fiduciary Advisors LLC Purchases Shares of 15,410 United Bankshares, Inc. $UBSI

Gallagher Fiduciary Advisors LLC acquired a new position in shares of United Bankshares, Inc. (NASDAQ:UBSI) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 15,410 shares of the financial services provider’s stock, valued at approximately $706,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC boosted its position in shares of United Bankshares by 4.6% during the fourth quarter. Brighton Jones LLC now owns 16,873 shares of the financial services provider’s stock valued at $634,000 after buying an additional 748 shares during the last quarter. Royal Bank of Canada raised its position in 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 valued at $2,310,000 after buying an additional 1,298 shares during the last quarter. Millennium Management LLC lifted its stake in 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in 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 in the last quarter. Finally, Jane Street Group LLC boosted its holdings in United Bankshares by 564.0% during 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 during the last quarter. 70.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on UBSI. Weiss Ratings reiterated a “buy (b)” rating on shares of United Bankshares in a report on Monday, July 6th. Hovde Group boosted their price target on shares of United Bankshares from $49.00 to $50.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Raymond James Financial upped their price objective 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 report on Saturday, July 25th. Finally, Keefe, Bruyette & Woods upped their target price on United Bankshares from $46.00 to $48.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $47.80.

United Bankshares Price Performance

UBSI opened at $47.41 on Wednesday. The firm has a 50-day moving average price of $47.21 and a 200-day moving average price of $44.32. The company has a market capitalization of $6.46 billion, a price-to-earnings ratio of 12.92 and a beta of 0.71. United Bankshares, Inc. has a twelve month low of $34.10 and a twelve month high of $49.62. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.10.

United Bankshares (NASDAQ:UBSI) last posted 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. The firm had revenue of $323.82 million for the quarter, compared to the consensus estimate of $320.07 million. United Bankshares had a return on equity of 9.39% and a net margin of 27.97%.During the same quarter in the prior year, the business posted $0.85 earnings per share. Equities analysts expect that United Bankshares, Inc. will post 3.71 EPS for the current year.

United Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be given a dividend of $0.38 per share. The ex-dividend date is Friday, September 11th. This represents a $1.52 annualized dividend and a dividend yield of 3.2%. United Bankshares’s dividend payout ratio is currently 41.42%.

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.