Y Intercept Hong Kong Ltd Invests $378,000 in United Bankshares, Inc. $UBSI

Y Intercept Hong Kong Ltd bought a new position in United Bankshares, Inc. (NASDAQ:UBSI) during the second quarter, Holdings Channel reports. The firm bought 10,365 shares of the financial services provider’s stock, valued at approximately $378,000.

Several other institutional investors have also added to or reduced their stakes in UBSI. Earnest Partners LLC increased its stake in United Bankshares by 0.4% in the 1st quarter. Earnest Partners LLC now owns 4,214,634 shares of the financial services provider’s stock worth $146,121,000 after acquiring an additional 15,498 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of 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 valued at $60,100,000 after acquiring an additional 22,900 shares during the last quarter. Invesco Ltd. grew its holdings in shares of United Bankshares by 8.9% in the first quarter. Invesco Ltd. now owns 980,553 shares of the financial services provider’s stock valued at $33,996,000 after purchasing an additional 80,176 shares in the last quarter. Nuveen LLC bought a new stake in United Bankshares in the first quarter worth $28,526,000. Finally, Systematic Financial Management LP increased its position in United Bankshares by 5.9% in the first quarter. Systematic Financial Management LP now owns 423,479 shares of the financial services provider’s stock worth $14,682,000 after purchasing an additional 23,747 shares during the last quarter. Hedge funds and other institutional investors own 70.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of United Bankshares in a research report on Thursday, October 30th. Piper Sandler set a $42.50 price objective on United Bankshares and gave the company an “overweight” rating in a research report on Thursday, October 23rd. Finally, Zacks Research raised United Bankshares to a “hold” rating in a research note on Friday, August 8th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $41.83.

United Bankshares Stock Performance

United Bankshares stock opened at $36.55 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market capitalization of $5.18 billion, a PE ratio of 11.98 and a beta of 0.83. The company has a 50 day moving average price of $36.84 and a 200-day moving average price of $36.57. United Bankshares, Inc. has a fifty-two week low of $30.50 and a fifty-two week high of $44.43.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.10. United Bankshares had a net margin of 24.37% and a return on equity of 8.15%. The company had revenue of $280.90 million during the quarter, compared to analyst estimates of $307.78 million. During the same period in the prior year, the firm earned $0.70 earnings per share. As a group, equities analysts forecast that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Friday, September 12th. United Bankshares’s dividend payout ratio (DPR) is 48.52%.

United Bankshares Company 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.