Atlantic Union Bankshares Corp Acquires New Stake in United Bankshares, Inc. $UBSI

Atlantic Union Bankshares Corp bought a new stake in United Bankshares, Inc. (NASDAQ:UBSI) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 26,609 shares of the financial services provider’s stock, valued at approximately $969,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC acquired a new stake in shares of United Bankshares during the 2nd quarter worth about $25,000. Hantz Financial Services Inc. lifted its stake in shares of United Bankshares by 261.8% during the second quarter. Hantz Financial Services Inc. now owns 749 shares of the financial services provider’s stock valued at $27,000 after buying an additional 542 shares during the period. Signaturefd LLC boosted its position in United Bankshares by 2,281.0% during the second quarter. Signaturefd LLC now owns 1,000 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 958 shares during the last quarter. Meeder Asset Management Inc. grew its stake in United Bankshares by 144.2% in the 1st quarter. Meeder Asset Management Inc. now owns 1,155 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 682 shares during the period. Finally, CWM LLC raised its holdings in United Bankshares by 226.9% in the 1st quarter. CWM LLC now owns 1,651 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 1,146 shares during the last quarter. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

United Bankshares Stock Up 1.0%

Shares of NASDAQ:UBSI 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. United Bankshares, Inc. has a 1 year low of $30.50 and a 1 year high of $44.43. The stock has a market capitalization of $5.18 billion, a P/E ratio of 11.98 and a beta of 0.83. The stock has a 50-day simple moving average of $36.84 and a 200-day simple moving average of $36.57.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.82 by $0.10. The firm had revenue of $280.90 million for the quarter, compared to analyst estimates of $307.78 million. United Bankshares had a net margin of 24.37% and a return on equity of 8.15%. During the same quarter last year, the firm posted $0.70 earnings per share. Equities analysts forecast that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Announces Dividend

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

Analysts Set New Price Targets

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

United Bankshares 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.