Strs Ohio Has $962,000 Stock Position in United Bankshares, Inc. $UBSI

Strs Ohio lowered its position in United Bankshares, Inc. (NASDAQ:UBSI) by 12.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,400 shares of the financial services provider’s stock after selling 3,800 shares during the quarter. Strs Ohio’s holdings in United Bankshares were worth $962,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Earnest Partners LLC raised its stake in shares of United Bankshares by 0.4% in the first quarter. Earnest Partners LLC now owns 4,214,634 shares of the financial services provider’s stock valued at $146,121,000 after purchasing an additional 15,498 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in United Bankshares by 1.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,733,488 shares of the financial services provider’s stock valued at $60,100,000 after buying an additional 22,900 shares during the period. Invesco Ltd. raised its stake in shares of United Bankshares by 8.9% in the 1st quarter. Invesco Ltd. now owns 980,553 shares of the financial services provider’s stock valued at $33,996,000 after buying an additional 80,176 shares in the last quarter. Nuveen LLC bought a new position in shares of United Bankshares during the 1st quarter worth about $28,526,000. Finally, Systematic Financial Management LP lifted its holdings in shares of United Bankshares by 5.9% during the 1st quarter. Systematic Financial Management LP now owns 423,479 shares of the financial services provider’s stock worth $14,682,000 after acquiring an additional 23,747 shares during the period. 70.80% of the stock is currently owned by institutional investors.

United Bankshares Price Performance

NASDAQ:UBSI opened at $36.19 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.10. The firm has a market cap of $5.13 billion, a PE ratio of 11.87 and a beta of 0.83. United Bankshares, Inc. has a 12 month low of $30.50 and a 12 month high of $44.43. The company’s 50-day moving average price is $36.88 and its two-hundred day moving average price is $36.55.

United Bankshares (NASDAQ:UBSI) last posted its earnings results on Thursday, October 23rd. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.10. The company had revenue of $324.10 million during the quarter, compared to analysts’ expectations of $307.78 million. United Bankshares had a net margin of 24.37% and a return on equity of 8.15%. During the same quarter in the previous year, the company posted $0.70 earnings per share. On average, equities analysts anticipate that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th were paid a $0.37 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.48 dividend on an annualized basis and a yield of 4.1%. United Bankshares’s payout ratio is currently 48.52%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of United Bankshares in a research note on Thursday, October 30th. Piper Sandler set a $42.50 price objective on United Bankshares and gave the company an “overweight” rating in a report on Thursday, October 23rd. Finally, Zacks Research raised United Bankshares to a “hold” rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $41.83.

United Bankshares 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.