Wealth Enhancement Advisory Services LLC Increases Stock Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

Wealth Enhancement Advisory Services LLC boosted its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 7.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 12,081 shares of the financial services provider’s stock after buying an additional 858 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in United Bankshares were worth $392,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in United Bankshares by 253.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,545 shares of the financial services provider’s stock valued at $50,000 after buying an additional 1,108 shares during the period. Hexagon Capital Partners LLC boosted its position in shares of United Bankshares by 449.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 1,345 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 1,100 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new stake in United Bankshares in the fourth quarter valued at approximately $58,000. New Covenant Trust Company N.A. acquired a new position in United Bankshares during the first quarter worth approximately $79,000. Finally, Principal Securities Inc. purchased a new position in United Bankshares during the fourth quarter worth approximately $141,000. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on UBSI. Stephens boosted their price objective on shares of United Bankshares from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods boosted their price target on United Bankshares from $38.00 to $40.00 and gave the company a “market perform” rating in a research report on Friday, July 26th. DA Davidson raised their price objective on United Bankshares from $36.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Finally, StockNews.com raised United Bankshares from a “sell” rating to a “hold” rating in a research note on Friday, July 26th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $40.25.

United Bankshares Stock Performance

NASDAQ:UBSI opened at $38.69 on Friday. The firm’s fifty day simple moving average is $34.95 and its 200 day simple moving average is $34.21. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.31. United Bankshares, Inc. has a twelve month low of $25.35 and a twelve month high of $39.93. The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of 14.77 and a beta of 0.99.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.07. United Bankshares had a return on equity of 7.72% and a net margin of 22.44%. The company had revenue of $255.94 million for the quarter, compared to analysts’ expectations of $255.54 million. During the same quarter in the previous year, the firm posted $0.68 earnings per share. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. As a group, equities research analysts expect that United Bankshares, Inc. will post 2.7 earnings per share for the current fiscal year.

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.