Federated Investors Inc. PA purchased a new position in shares of United Bankshares, Inc. (NASDAQ:UBSI) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 41,154 shares of the financial services provider’s stock, valued at approximately $1,613,000. Federated Investors Inc. PA owned about 0.05% of United Bankshares at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. LS Investment Advisors LLC boosted its stake in shares of United Bankshares by 9.7% during the 1st quarter. LS Investment Advisors LLC now owns 2,766 shares of the financial services provider’s stock worth $117,000 after acquiring an additional 244 shares during the last quarter. TD Asset Management Inc. boosted its stake in shares of United Bankshares by 1.4% during the 2nd quarter. TD Asset Management Inc. now owns 21,635 shares of the financial services provider’s stock worth $848,000 after acquiring an additional 300 shares during the last quarter. Baird Financial Group Inc. boosted its stake in shares of United Bankshares by 4.4% during the 1st quarter. Baird Financial Group Inc. now owns 7,500 shares of the financial services provider’s stock worth $317,000 after acquiring an additional 319 shares during the last quarter. Tyers Asset Management LLC boosted its stake in shares of United Bankshares by 14.5% during the 1st quarter. Tyers Asset Management LLC now owns 2,528 shares of the financial services provider’s stock worth $107,000 after acquiring an additional 320 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in shares of United Bankshares by 6.2% during the 1st quarter. Teacher Retirement System of Texas now owns 6,456 shares of the financial services provider’s stock worth $273,000 after acquiring an additional 376 shares during the last quarter. Institutional investors and hedge funds own 62.25% of the company’s stock.

United Bankshares, Inc. (NASDAQ UBSI) opened at 33.35 on Tuesday. The stock has a market cap of $3.50 billion, a PE ratio of 17.84 and a beta of 1.05. United Bankshares, Inc. has a 1-year low of $31.70 and a 1-year high of $49.35. The company’s 50 day moving average is $33.95 and its 200-day moving average is $38.76.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.14. The business had revenue of $176.75 million during the quarter, compared to analyst estimates of $164.09 million. United Bankshares had a return on equity of 6.42% and a net margin of 25.20%. During the same quarter in the previous year, the company earned $0.44 EPS. Equities research analysts forecast that United Bankshares, Inc. will post $1.92 earnings per share for the current fiscal year.

United Bankshares announced that its Board of Directors has initiated a share buyback program on Monday, August 28th that permits the company to buyback 2,000,000 outstanding shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be paid a $0.33 dividend. The ex-dividend date is Thursday, September 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.96%. United Bankshares’s payout ratio is currently 69.47%.

UBSI has been the topic of several analyst reports. BidaskClub cut shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Boenning Scattergood upgraded shares of United Bankshares from an “underperform” rating to a “neutral” rating in a research note on Thursday, May 18th. Finally, Zacks Investment Research upgraded shares of United Bankshares from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Wednesday, June 28th. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $42.63.

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In other news, Chairman Richard M. Sr Adams, Sr. purchased 7,405 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were purchased at an average cost of $33.85 per share, with a total value of $250,659.25. Following the completion of the acquisition, the chairman now owns 631,170 shares of the company’s stock, valued at approximately $21,365,104.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter A. Converse purchased 3,000 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were purchased at an average cost of $33.15 per share, for a total transaction of $99,450.00. The disclosure for this purchase can be found here. Insiders bought 15,247 shares of company stock worth $510,526 in the last quarter. Company insiders own 6.23% of the company’s stock.

United Bankshares Company Profile

United Bankshares, Inc (United) is a bank holding company. The Company operates through community banking segment. United’s Banking Subsidiaries offer a range of commercial and retail banking services and products. United, through its subsidiaries, engages in community banking and offers banking products and services permitted by law and regulation.

Institutional Ownership by Quarter for United Bankshares (NASDAQ:UBSI)

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