United Bankshares, Inc. $UBSI Shares Bought by Ritholtz Wealth Management

Ritholtz Wealth Management lifted its position in United Bankshares, Inc. (NASDAQ:UBSI) by 12.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,624 shares of the financial services provider’s stock after acquiring an additional 754 shares during the quarter. Ritholtz Wealth Management’s holdings in United Bankshares were worth $241,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Hazlett Burt & Watson Inc. lifted its holdings in shares of United Bankshares by 512.4% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 8,077 shares of the financial services provider’s stock worth $293,000 after purchasing an additional 6,758 shares during the last quarter. CWM LLC raised its stake in shares of United Bankshares by 244.3% in the 2nd quarter. CWM LLC now owns 5,684 shares of the financial services provider’s stock worth $207,000 after buying an additional 4,033 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of United Bankshares by 18.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 19,457 shares of the financial services provider’s stock worth $709,000 after buying an additional 3,029 shares in the last quarter. Inspire Investing LLC raised its stake in shares of United Bankshares by 7.4% in the 2nd quarter. Inspire Investing LLC now owns 10,652 shares of the financial services provider’s stock worth $388,000 after buying an additional 730 shares in the last quarter. Finally, KLP Kapitalforvaltning AS raised its stake in shares of United Bankshares by 13.7% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 29,903 shares of the financial services provider’s stock worth $1,099,000 after buying an additional 3,600 shares in the last quarter. Institutional investors own 70.80% of the company’s stock.

United Bankshares Stock Performance

Shares of NASDAQ UBSI opened at $35.45 on Wednesday. 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 has a market capitalization of $5.02 billion, a price-to-earnings ratio of 12.53 and a beta of 0.76. The stock’s fifty day simple moving average is $37.30 and its 200 day simple moving average is $36.26. United Bankshares, Inc. has a 52-week low of $30.50 and a 52-week high of $44.43.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.08. United Bankshares had a return on equity of 7.65% and a net margin of 23.14%.The business had revenue of $306.00 million for the quarter, compared to the consensus estimate of $297.98 million. During the same quarter in the previous year, the company posted $0.71 earnings per share. As a group, sell-side analysts forecast that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th were issued a dividend of $0.37 per share. The ex-dividend date was Friday, September 12th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.2%. United Bankshares’s payout ratio is currently 52.30%.

Analysts Set New Price Targets

A number of research firms have recently commented on UBSI. Weiss Ratings downgraded United Bankshares from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Zacks Research raised United Bankshares to a “hold” rating in a research note on Friday, August 8th. Five analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $40.50.

United Bankshares Company Profile

United Bankshares, Inc, through its subsidiaries, primarily provides commercial and retail banking products and services in the United States. It operates through two segments, Community Banking and Mortgage Banking. The company accepts checking, savings, and time and money market accounts; individual retirement accounts; and demand deposits, statement and special savings, and NOW accounts.