Louisiana State Employees Retirement System Buys New Shares in United Bankshares, Inc. $UBSI

Louisiana State Employees Retirement System purchased a new position in United Bankshares, Inc. (NASDAQ:UBSI) during the 1st quarter, Holdings Channel reports. The firm purchased 40,500 shares of the financial services provider’s stock, valued at approximately $1,678,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of United Bankshares in the third quarter valued at about $25,000. Eurizon Capital SGR S.p.A. acquired a new position in United Bankshares in the 4th quarter valued at approximately $26,000. Farther Finance Advisors LLC lifted its position in shares of United Bankshares by 196.2% in the 4th quarter. Farther Finance Advisors LLC now owns 856 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 567 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of United Bankshares by 528.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,175 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 988 shares in the last quarter. Finally, Rothschild Investment LLC increased its position in shares of United Bankshares by 47.5% during the fourth quarter. Rothschild Investment LLC now owns 1,236 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 398 shares during the period. Institutional investors own 70.80% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on UBSI shares. Raymond James Financial raised their target price on United Bankshares from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday. Wall Street Zen cut shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Zacks Research downgraded shares of United Bankshares from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Finally, Hovde Group began coverage on shares of United Bankshares in a research report on Wednesday, June 24th. They set a “market perform” rating and a $49.00 target price on the stock. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $46.60.

United Bankshares Stock Performance

NASDAQ:UBSI opened at $46.94 on Thursday. The firm has a 50 day moving average of $43.92 and a 200-day moving average of $42.35. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $6.47 billion, a P/E ratio of 13.15 and a beta of 0.71. United Bankshares, Inc. has a 1 year low of $34.10 and a 1 year high of $46.98.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.89 earnings per share 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 firm had revenue of $316.58 million during the quarter, compared to analysts’ expectations of $315.15 million. During the same quarter last year, the company posted $0.59 EPS. As a group, sell-side analysts anticipate that United Bankshares, Inc. will post 3.64 EPS for the current fiscal year.

United Bankshares Announces Dividend

The business 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 dividend yield of 3.2%. United Bankshares’s dividend payout ratio (DPR) is currently 42.58%.

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.