Legal & General Group Plc raised its position in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 12.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 127,077 shares of the financial services provider’s stock after purchasing an additional 14,368 shares during the quarter. Legal & General Group Plc owned 0.12% of United Bankshares worth $4,479,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of UBSI. Anchor Capital Advisors LLC grew its holdings in United Bankshares by 1,254.9% during the first quarter. Anchor Capital Advisors LLC now owns 1,139,168 shares of the financial services provider’s stock valued at $40,156,000 after purchasing an additional 1,055,093 shares during the period. Dimensional Fund Advisors LP raised its holdings in United Bankshares by 18.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,812,340 shares of the financial services provider’s stock worth $134,385,000 after purchasing an additional 601,236 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of United Bankshares by 154.0% during the 1st quarter. Wells Fargo & Company MN now owns 973,837 shares of the financial services provider’s stock worth $34,328,000 after buying an additional 590,406 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of United Bankshares by 51.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 770,525 shares of the financial services provider’s stock worth $27,160,000 after buying an additional 262,360 shares during the period. Finally, Millennium Management LLC acquired a new stake in shares of United Bankshares during the 1st quarter worth approximately $7,919,000. Institutional investors and hedge funds own 70.13% of the company’s stock.
UBSI has been the subject of several recent analyst reports. TheStreet raised shares of United Bankshares from a “c+” rating to a “b-” rating in a research report on Wednesday, June 6th. BidaskClub upgraded United Bankshares from a “hold” rating to a “buy” rating in a research note on Thursday, May 31st. Zacks Investment Research raised United Bankshares from a “sell” rating to a “hold” rating in a report on Tuesday, May 1st. DA Davidson reduced their target price on United Bankshares from $40.00 to $38.00 and set a “hold” rating for the company in a report on Friday, April 27th. Finally, ValuEngine lowered United Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. United Bankshares currently has an average rating of “Hold” and a consensus target price of $39.33.
United Bankshares traded down $0.95, reaching $36.35, during mid-day trading on Friday, MarketBeat reports. 555,600 shares of the company traded hands, compared to its average volume of 624,695. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.40. United Bankshares, Inc. has a 52-week low of $31.70 and a 52-week high of $38.80. The firm has a market capitalization of $3.92 billion, a PE ratio of 19.13, a PEG ratio of 1.90 and a beta of 1.08.
United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings results on Thursday, April 26th. The financial services provider reported $0.59 EPS for the quarter, hitting the consensus estimate of $0.59. The business had revenue of $176.74 million for the quarter, compared to analysts’ expectations of $180.16 million. United Bankshares had a net margin of 21.34% and a return on equity of 6.50%. The company’s quarterly revenue was up 36.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.48 earnings per share. equities research analysts anticipate that United Bankshares, Inc. will post 2.46 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 2nd. Investors of record on Friday, June 8th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, June 7th. This represents a $1.36 annualized dividend and a yield of 3.74%. United Bankshares’s dividend payout ratio (DPR) is 71.58%.