Papamarkou Wellner Asset Management inc. Makes New $961,000 Investment in United Bankshares, Inc. $UBSI

Papamarkou Wellner Asset Management inc. purchased a new position in shares of United Bankshares, Inc. (NASDAQ:UBSI) in the 2nd quarter, Holdings Channel reports. The firm purchased 23,198 shares of the financial services provider’s stock, valued at approximately $961,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in UBSI. BlackRock Inc. acquired a new position in United Bankshares during the second quarter worth $925,212,000. Dimensional Fund Advisors LP grew its position in United Bankshares by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 7,661,331 shares of the financial services provider’s stock valued at $317,327,000 after purchasing an additional 56,808 shares in the last quarter. Geode Capital Management LLC increased its stake in United Bankshares by 5.1% in the 4th quarter. Geode Capital Management LLC now owns 3,802,338 shares of the financial services provider’s stock valued at $146,030,000 after buying an additional 183,950 shares during the last quarter. Norges Bank acquired a new stake in United Bankshares in the 4th quarter valued at $68,366,000. Finally, Bank of America Corp DE lifted its position in United Bankshares by 20.5% during the 1st quarter. Bank of America Corp DE now owns 1,631,894 shares of the financial services provider’s stock worth $67,593,000 after buying an additional 277,836 shares in the last quarter. 70.80% of the stock is currently owned by institutional investors and hedge funds.

United Bankshares Price Performance

Shares of UBSI opened at $47.49 on Friday. The company has a market cap of $6.47 billion, a price-to-earnings ratio of 12.94 and a beta of 0.71. United Bankshares, Inc. has a 1-year low of $34.10 and a 1-year high of $49.62. The company’s fifty day simple moving average is $47.34 and its 200 day simple moving average is $44.35. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.06. The firm had revenue of $323.82 million for the quarter, compared to analyst estimates 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 in the prior year, the firm posted $0.85 earnings per share. On average, research analysts forecast that United Bankshares, Inc. will post 3.71 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, September 11th. United Bankshares’s dividend payout ratio is presently 41.42%.

Wall Street Analysts Forecast Growth

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

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.