Nisa Investment Advisors LLC Acquires 6,323 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Nisa Investment Advisors LLC increased its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 96.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 12,848 shares of the financial services provider’s stock after acquiring an additional 6,323 shares during the period. Nisa Investment Advisors LLC’s holdings in United Bankshares were worth $422,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of UBSI. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of United Bankshares by 9.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,428 shares of the financial services provider’s stock worth $1,030,000 after acquiring an additional 2,330 shares during the last quarter. New York State Common Retirement Fund lifted its stake in shares of United Bankshares by 13.3% during the 4th quarter. New York State Common Retirement Fund now owns 664,599 shares of the financial services provider’s stock worth $24,956,000 after acquiring an additional 78,022 shares during the last quarter. Linden Thomas Advisory Services LLC lifted its stake in shares of United Bankshares by 1.5% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 21,419 shares of the financial services provider’s stock worth $804,000 after acquiring an additional 310 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of United Bankshares by 4.8% during the 4th quarter. Russell Investments Group Ltd. now owns 44,825 shares of the financial services provider’s stock worth $1,683,000 after acquiring an additional 2,059 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its stake in shares of United Bankshares by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 168,997 shares of the financial services provider’s stock worth $6,346,000 after acquiring an additional 517 shares during the last quarter. 70.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on UBSI shares. StockNews.com raised United Bankshares from a “sell” rating to a “hold” rating in a research 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 report on Friday, July 26th. DA Davidson lifted their target price on United Bankshares from $36.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Finally, Keefe, Bruyette & Woods lifted their target price 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. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $40.25.

United Bankshares Trading Up 5.5 %

UBSI opened at $38.69 on Friday. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 14.77 and a beta of 0.99. 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 12 month low of $25.35 and a 12 month high of $39.93. The stock has a fifty day moving average price of $34.95 and a 200-day moving average price of $34.21.

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

About United Bankshares

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.