Versor Investments LP Acquires New Shares in United Bankshares, Inc. $UBSI

Versor Investments LP acquired a new stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 19,900 shares of the financial services provider’s stock, valued at approximately $725,000.

Several other hedge funds also recently modified their holdings of the company. Earnest Partners LLC boosted its holdings in shares of United Bankshares by 0.4% during the 1st quarter. Earnest Partners LLC now owns 4,214,634 shares of the financial services provider’s stock valued at $146,121,000 after acquiring an additional 15,498 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in United Bankshares by 1.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,733,488 shares of the financial services provider’s stock worth $60,100,000 after buying an additional 22,900 shares during the period. Invesco Ltd. lifted its holdings in United Bankshares by 8.9% during the 1st quarter. Invesco Ltd. now owns 980,553 shares of the financial services provider’s stock worth $33,996,000 after buying an additional 80,176 shares during the period. Nuveen LLC acquired a new position in United Bankshares during the 1st quarter worth about $28,526,000. Finally, Systematic Financial Management LP lifted its holdings in United Bankshares by 5.9% during the 1st quarter. Systematic Financial Management LP now owns 423,479 shares of the financial services provider’s stock worth $14,682,000 after buying an additional 23,747 shares during the period. Institutional investors and hedge funds own 70.80% of the company’s stock.

Analyst Upgrades and Downgrades

UBSI has been the topic of several recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of United Bankshares in a report on Thursday, October 30th. Zacks Research raised United Bankshares to a “hold” rating in a report on Friday, August 8th. Finally, Piper Sandler set a $42.50 target price on United Bankshares and gave the stock an “overweight” rating in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $41.83.

United Bankshares Stock Up 0.6%

Shares of NASDAQ:UBSI opened at $36.01 on Tuesday. The company has a market capitalization of $5.10 billion, a price-to-earnings ratio of 11.81 and a beta of 0.76. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.99 and a quick ratio of 0.99. The business’s 50-day moving average is $37.02 and its 200-day moving average is $36.53. United Bankshares, Inc. has a 1 year low of $30.50 and a 1 year high of $44.43.

United Bankshares (NASDAQ:UBSI) last issued its earnings results on Thursday, October 23rd. The financial services provider reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.10. United Bankshares had a return on equity of 8.15% and a net margin of 24.37%.The business had revenue of $324.10 million during the quarter, compared to analyst estimates of $307.78 million. During the same period in the previous year, the company posted $0.70 EPS. Equities research analysts predict that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 12th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Friday, September 12th. United Bankshares’s payout ratio is presently 48.52%.

About United Bankshares

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.