California State Teachers Retirement System Has $6.45 Million Stock Holdings in United Bankshares, Inc. $UBSI

California State Teachers Retirement System boosted its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 16.9% in the first quarter, HoldingsChannel reports. The firm owned 155,643 shares of the financial services provider’s stock after acquiring an additional 22,458 shares during the period. California State Teachers Retirement System’s holdings in United Bankshares were worth $6,447,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in shares of United Bankshares by 4.6% in the fourth quarter. Brighton Jones LLC now owns 16,873 shares of the financial services provider’s stock worth $634,000 after acquiring an additional 748 shares in the last quarter. Royal Bank of Canada increased its stake in United Bankshares by 2.0% in the 1st quarter. Royal Bank of Canada now owns 66,649 shares of the financial services provider’s stock valued at $2,310,000 after buying an additional 1,298 shares during the last quarter. Millennium Management LLC raised its holdings in United Bankshares by 464.1% during the first quarter. Millennium Management LLC now owns 137,336 shares of the financial services provider’s stock worth $4,761,000 after acquiring an additional 112,988 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of United Bankshares by 7.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 409,428 shares of the financial services provider’s stock worth $14,195,000 after purchasing an additional 28,366 shares in the last quarter. Finally, Jane Street Group LLC raised its position in United Bankshares by 564.0% during the first quarter. Jane Street Group LLC now owns 182,540 shares of the financial services provider’s stock worth $6,329,000 after acquiring an additional 155,051 shares in the last quarter. Institutional investors own 70.80% of the company’s stock.

United Bankshares Stock Performance

Shares of United Bankshares stock opened at $49.08 on Thursday. The stock has a market cap of $6.76 billion, a price-to-earnings ratio of 13.37 and a beta of 0.71. The company’s fifty day moving average is $46.01 and its 200 day moving average is $43.72. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.10. United Bankshares, Inc. has a twelve month low of $34.10 and a twelve month high of $49.62.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.06. The company had revenue of $323.82 million during the quarter, compared to the consensus estimate of $320.07 million. United Bankshares had a return on equity of 9.39% and a net margin of 27.97%.During the same period last year, the company earned $0.85 earnings per share. Sell-side analysts forecast that United Bankshares, Inc. will post 3.71 EPS for the current year.

United Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Friday, June 12th. United Bankshares’s dividend payout ratio (DPR) is presently 41.42%.

Analysts Set New Price Targets

Several research firms have issued reports on UBSI. Wall Street Zen upgraded United Bankshares from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Raymond James Financial lifted their price objective on shares of United Bankshares from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Keefe, Bruyette & Woods upped their target price on United Bankshares from $46.00 to $48.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Hovde Group increased their price target on shares of United Bankshares from $49.00 to $50.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of United Bankshares in a research note on Monday, July 6th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $47.80.

United Bankshares Profile

United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company’s core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.

United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.