United Bankshares, Inc. (NASDAQ:UBSI) Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC boosted its position in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 110.4% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 2,206,434 shares of the financial services provider’s stock after acquiring an additional 1,157,579 shares during the quarter. ProShare Advisors LLC’s holdings in United Bankshares were worth $71,577,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. acquired a new position in shares of United Bankshares in the 4th quarter valued at about $243,000. Norges Bank acquired a new position in shares of United Bankshares in the 4th quarter valued at about $45,308,000. UBS Group AG lifted its holdings in shares of United Bankshares by 77.5% in the 4th quarter. UBS Group AG now owns 316,889 shares of the financial services provider’s stock valued at $11,899,000 after buying an additional 138,317 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of United Bankshares by 2.3% in the 4th quarter. Wells Fargo & Company MN now owns 437,422 shares of the financial services provider’s stock valued at $16,425,000 after buying an additional 10,011 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of United Bankshares by 5.5% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 78,554 shares of the financial services provider’s stock valued at $2,950,000 after buying an additional 4,108 shares during the period. Institutional investors and hedge funds own 70.80% of the company’s stock.

United Bankshares Price Performance

Shares of United Bankshares stock opened at $37.84 on Monday. The company has a quick ratio of 0.99, a current ratio of 1.00 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 business has a 50-day moving average price of $37.20 and a 200 day moving average price of $34.62. The firm has a market cap of $5.12 billion, a PE ratio of 14.44 and a beta of 0.99.

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

United Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.48 annualized dividend and a yield of 3.91%. United Bankshares’s dividend payout ratio (DPR) is currently 56.49%.

Analyst Ratings Changes

Several brokerages have recently issued reports on UBSI. Keefe, Bruyette & Woods boosted their price objective on United Bankshares from $38.00 to $40.00 and gave the company a “market perform” rating in a report on Friday, July 26th. StockNews.com upgraded United Bankshares from a “sell” rating to a “hold” rating in a research note on Wednesday, September 18th. Stephens lifted their price target 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. Finally, DA Davidson lifted their price target on United Bankshares from $36.00 to $41.00 and gave the company a “neutral” rating in a research note 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $40.25.

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.