Ieq Capital LLC Invests $544,000 in United Bankshares, Inc. $UBSI

Ieq Capital LLC acquired a new position in United Bankshares, Inc. (NASDAQ:UBSI) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 15,513 shares of the financial services provider’s stock, valued at approximately $544,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new position in United Bankshares during the third quarter worth about $25,000. Eurizon Capital SGR S.p.A. purchased a new stake in shares of United Bankshares during the 4th quarter valued at approximately $26,000. Farther Finance Advisors LLC lifted its stake in shares of United Bankshares by 196.2% during the 4th quarter. Farther Finance Advisors LLC now owns 856 shares of the financial services provider’s stock valued at $33,000 after buying an additional 567 shares in the last quarter. Root Financial Partners LLC boosted its holdings in United Bankshares by 64.4% in the 1st quarter. Root Financial Partners LLC now owns 786 shares of the financial services provider’s stock worth $33,000 after buying an additional 308 shares during the period. Finally, Allworth Financial LP bought a new position in United Bankshares in the 2nd quarter worth approximately $43,000. 70.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

United Bankshares Stock Performance

United Bankshares stock opened at $47.60 on Friday. United Bankshares, Inc. has a 1-year low of $34.10 and a 1-year high of $49.62. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $6.48 billion, a PE ratio of 12.97 and a beta of 0.71. The firm’s 50 day simple moving average is $47.40 and its 200 day simple moving average is $44.38.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.95 EPS for the quarter, beating the consensus estimate of $0.89 by $0.06. The firm had revenue of $323.82 million during the quarter, compared to the consensus estimate of $320.07 million. United Bankshares had a net margin of 27.97% and a return on equity of 9.39%. During the same period last year, the firm earned $0.85 EPS. As a group, analysts expect that United Bankshares, Inc. will post 3.71 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.52 annualized dividend and a yield of 3.2%. United Bankshares’s dividend payout ratio (DPR) is currently 41.42%.

About United Bankshares

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.