Maltese Capital Management LLC Acquires 40,000 Shares of United Bankshares, Inc. $UBSI

Maltese Capital Management LLC increased its position in United Bankshares, Inc. (NASDAQ:UBSI) by 39.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 142,500 shares of the financial services provider’s stock after buying an additional 40,000 shares during the period. Maltese Capital Management LLC owned about 0.10% of United Bankshares worth $5,472,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of UBSI. Norges Bank bought a new position in United Bankshares in the 4th quarter worth $68,366,000. Goldman Sachs Group Inc. boosted its holdings in United Bankshares by 75.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,177,051 shares of the financial services provider’s stock worth $45,199,000 after buying an additional 504,986 shares during the period. AQR Capital Management LLC boosted its holdings in United Bankshares by 65.5% in the 3rd quarter. AQR Capital Management LLC now owns 930,252 shares of the financial services provider’s stock worth $34,615,000 after buying an additional 368,141 shares during the period. JPMorgan Chase & Co. boosted its holdings in United Bankshares by 64.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 782,292 shares of the financial services provider’s stock worth $29,109,000 after buying an additional 307,159 shares during the period. Finally, Verition Fund Management LLC boosted its holdings in United Bankshares by 89.5% in the 3rd quarter. Verition Fund Management LLC now owns 520,964 shares of the financial services provider’s stock worth $19,385,000 after buying an additional 246,006 shares during the period. Institutional investors own 70.80% of the company’s stock.

Analyst Ratings Changes

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

United Bankshares Stock Down 1.7%

UBSI opened at $44.86 on Tuesday. The firm has a 50-day simple moving average of $43.45 and a two-hundred day simple moving average of $41.73. United Bankshares, Inc. has a 52 week low of $34.10 and a 52 week high of $46.09. The company has a market capitalization of $6.18 billion, a PE ratio of 12.57 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.

United Bankshares (NASDAQ:UBSI) last released 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 business had revenue of $316.58 million during the quarter, compared to the consensus estimate of $315.15 million. During the same quarter in the prior year, the firm earned $0.59 EPS. Analysts forecast that United Bankshares, Inc. will post 3.64 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be 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 of this dividend is Friday, June 12th. United Bankshares’s dividend payout ratio is 42.58%.

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.