Brown Advisory Inc. raised its position in United Bankshares Inc. (NASDAQ:UBSI) by 134.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,217 shares of the financial services provider’s stock after buying an additional 9,880 shares during the period. Brown Advisory Inc.’s holdings in United Bankshares were worth $646,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Societe Generale acquired a new position in United Bankshares during the second quarter worth $109,000. Victory Capital Management Inc. raised its position in United Bankshares by 77.3% in the second quarter. Victory Capital Management Inc. now owns 2,962 shares of the financial services provider’s stock worth $111,000 after buying an additional 1,291 shares during the period. Shelton Capital Management acquired a new position in United Bankshares during the second quarter worth $204,000. Cambridge Investment Research Advisors Inc. raised its position in United Bankshares by 6.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 6,043 shares of the financial services provider’s stock worth $227,000 after buying an additional 379 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in United Bankshares during the first quarter worth $294,000. 51.99% of the stock is currently owned by institutional investors and hedge funds.
United Bankshares Inc. (NASDAQ:UBSI) traded up 1.08% during mid-day trading on Friday, hitting $37.47. 44,657 shares of the stock traded hands. The stock’s 50 day moving average is $38.30 and its 200-day moving average is $37.88. United Bankshares Inc. has a 12 month low of $32.22 and a 12 month high of $43.13. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 19.52 and a beta of 1.05.
United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Thursday, July 28th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by $0.06. United Bankshares had a return on equity of 7.53% and a net margin of 26.71%. During the same quarter in the previous year, the company posted $0.50 EPS. On average, equities research analysts anticipate that United Bankshares Inc. will post $1.97 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 9th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.56%. The ex-dividend date is Wednesday, September 7th. United Bankshares’s dividend payout ratio (DPR) is 68.75%.
A number of research analysts have weighed in on the stock. Zacks Investment Research lowered shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Tuesday, August 2nd. Keefe, Bruyette & Woods raised their target price on shares of United Bankshares from $36.00 to $38.00 and gave the stock a “market perform” rating in a research note on Monday, August 22nd.
About United Bankshares
United Bankshares, Inc (United) is a bank holding company. The Company has approximately two banking subsidiaries (the Banking Subsidiaries) doing business under the name of United Bank, one operating under the laws of West Virginia referred to as United Bank (WV) and the other operating under the laws of Virginia referred to as United Bank (VA).
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