22,564 Shares in United Bankshares, Inc. $UBSI Purchased by Ieq Capital LLC

Ieq Capital LLC acquired a new position in United Bankshares, Inc. (NASDAQ:UBSI) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 22,564 shares of the financial services provider’s stock, valued at approximately $1,034,000.

Several other institutional investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of United Bankshares during the third quarter valued at approximately $25,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of United Bankshares in the fourth quarter valued at $26,000. Farther Finance Advisors LLC lifted its position in United Bankshares by 196.2% in the fourth quarter. Farther Finance Advisors LLC now owns 856 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 567 shares during the period. Root Financial Partners LLC lifted its position in United Bankshares by 64.4% in the first quarter. Root Financial Partners LLC now owns 786 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 308 shares during the period. Finally, Allworth Financial LP acquired a new stake in United Bankshares during the second quarter worth $43,000. Institutional investors and hedge funds own 70.80% of the company’s stock.

United Bankshares Trading Up 0.1%

Shares of UBSI stock opened at $47.45 on Thursday. The company has a market capitalization of $6.46 billion, a P/E ratio of 12.93 and a beta of 0.71. United Bankshares, Inc. has a 12-month low of $34.10 and a 12-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. The firm has a 50-day moving average price of $47.28 and a 200 day moving average price of $44.34.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.95 earnings per share 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 analysts’ expectations of $320.07 million. United Bankshares had a net margin of 27.97% and a return on equity of 9.39%. During the same period in the prior year, the firm earned $0.85 earnings per share. Research analysts forecast 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 will be paid on Thursday, October 1st. Investors 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 dividend on an annualized basis and a yield of 3.2%. United Bankshares’s dividend payout ratio is 41.42%.

Analyst Ratings Changes

Several equities research analysts have issued reports on UBSI shares. Keefe, Bruyette & Woods boosted their price target on shares of United Bankshares from $46.00 to $48.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Raymond James Financial lifted their target price on shares of United Bankshares from $49.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Weiss Ratings reissued a “buy (b)” rating on shares of United Bankshares in a research note on Monday, July 6th. Hovde Group increased their price target on shares of United Bankshares from $49.00 to $50.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Finally, Wall Street Zen raised United Bankshares from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $47.80.

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.