Victory Capital Management Inc. Acquires 55,633 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Victory Capital Management Inc. boosted its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 1.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,982,478 shares of the financial services provider’s stock after buying an additional 55,633 shares during the period. Victory Capital Management Inc. owned approximately 2.95% of United Bankshares worth $129,192,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Russell Investments Group Ltd. increased its holdings in United Bankshares by 4.8% in the 4th quarter. Russell Investments Group Ltd. now owns 44,825 shares of the financial services provider’s stock worth $1,683,000 after buying an additional 2,059 shares in the last quarter. Natixis Advisors L.P. boosted its holdings in United Bankshares by 66.2% in the fourth quarter. Natixis Advisors L.P. now owns 199,537 shares of the financial services provider’s stock worth $7,492,000 after purchasing an additional 79,488 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in United Bankshares in the fourth quarter worth approximately $440,000. Lincoln National Corp grew its position in United Bankshares by 8.1% in the 4th quarter. Lincoln National Corp now owns 11,184 shares of the financial services provider’s stock worth $420,000 after purchasing an additional 837 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in United Bankshares by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,486,804 shares of the financial services provider’s stock valued at $55,829,000 after buying an additional 60,465 shares during the last quarter. 70.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

United Bankshares Stock Performance

NASDAQ:UBSI opened at $36.72 on Friday. 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 stock has a 50-day simple moving average of $36.26 and a two-hundred day simple moving average of $34.43. The firm has a market capitalization of $4.97 billion, a PE ratio of 14.02 and a beta of 0.99. United Bankshares, Inc. has a 52-week low of $25.35 and a 52-week high of $39.93.

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

United Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, September 13th. This represents a $1.48 annualized dividend and a dividend yield of 4.03%. United Bankshares’s payout ratio is 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.