Ritholtz Wealth Management Purchases New Stake in United Bankshares, Inc. (NASDAQ:UBSI)

Ritholtz Wealth Management acquired a new position in United Bankshares, Inc. (NASDAQ:UBSI) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 11,982 shares of the financial services provider’s stock, valued at approximately $445,000.

Other hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its holdings in shares of United Bankshares by 237.6% in the 3rd quarter. UMB Bank n.a. now owns 844 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 594 shares during the last quarter. Marathon Strategic Advisors LLC bought a new stake in United Bankshares in the third quarter valued at $206,000. GAMMA Investing LLC lifted its stake in United Bankshares by 34.6% in the third quarter. GAMMA Investing LLC now owns 2,079 shares of the financial services provider’s stock valued at $77,000 after buying an additional 534 shares during the last quarter. Systematic Financial Management LP boosted its holdings in shares of United Bankshares by 73.8% during the second quarter. Systematic Financial Management LP now owns 279,039 shares of the financial services provider’s stock valued at $9,052,000 after acquiring an additional 118,501 shares during the period. Finally, Algert Global LLC bought a new position in shares of United Bankshares during the second quarter worth about $441,000. Institutional investors and hedge funds own 70.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on UBSI shares. Keefe, Bruyette & Woods lifted their price target on United Bankshares from $38.00 to $40.00 and gave the company a “market perform” rating in a report on Friday, July 26th. Stephens lifted their target price on United Bankshares from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. StockNews.com lowered United Bankshares from a “hold” rating to a “sell” rating in a research report on Thursday, September 26th. Finally, DA Davidson raised their price target on United Bankshares from $36.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $40.25.

United Bankshares Stock Up 1.5 %

United Bankshares stock opened at $38.48 on Thursday. United Bankshares, Inc. has a twelve month low of $25.35 and a twelve month high of $39.93. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.99 and a current ratio of 1.00. The firm has a market cap of $5.20 billion, a PE ratio of 14.69 and a beta of 0.99. The firm’s 50 day moving average price is $37.01 and its two-hundred day moving average price is $34.91.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.64 by $0.07. The business had revenue of $255.94 million during the quarter, compared to analysts’ expectations of $255.54 million. United Bankshares had a return on equity of 7.72% and a net margin of 22.44%. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.68 EPS. On average, research analysts predict that United Bankshares, Inc. will post 2.7 EPS for the current fiscal year.

United Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.85%. The ex-dividend date was Friday, September 13th. United Bankshares’s dividend payout ratio is currently 56.49%.

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.