Dynamic Technology Lab Private Ltd Has $1.03 Million Stock Position in United Bankshares, Inc. $UBSI

Dynamic Technology Lab Private Ltd lifted its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 31.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,221 shares of the financial services provider’s stock after purchasing an additional 6,741 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in United Bankshares were worth $1,028,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Winnow Wealth LLC acquired a new position in shares of United Bankshares during the 2nd quarter valued at about $237,000. Kingsview Wealth Management LLC grew its holdings in United Bankshares by 6.5% during the second quarter. Kingsview Wealth Management LLC now owns 27,222 shares of the financial services provider’s stock valued at $992,000 after purchasing an additional 1,672 shares during the last quarter. Ontario Teachers Pension Plan Board raised its position in shares of United Bankshares by 118.0% in the second quarter. Ontario Teachers Pension Plan Board now owns 48,633 shares of the financial services provider’s stock valued at $1,772,000 after purchasing an additional 26,328 shares during the period. Intech Investment Management LLC lifted its stake in shares of United Bankshares by 13.6% in the second quarter. Intech Investment Management LLC now owns 70,393 shares of the financial services provider’s stock worth $2,564,000 after buying an additional 8,422 shares during the last quarter. Finally, Cetera Investment Advisers boosted its holdings in shares of United Bankshares by 14.8% during the 2nd quarter. Cetera Investment Advisers now owns 12,862 shares of the financial services provider’s stock worth $469,000 after buying an additional 1,663 shares during the period. 70.80% of the stock is owned by institutional investors and hedge funds.

United Bankshares Trading Up 4.1%

United Bankshares stock opened at $37.23 on Friday. The business has a 50 day moving average price of $36.46 and a two-hundred day moving average price of $36.69. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.10. United Bankshares, Inc. has a 12 month low of $30.50 and a 12 month high of $44.43. The stock has a market cap of $5.23 billion, a price-to-earnings ratio of 12.21 and a beta of 0.83.

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

United Bankshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Friday, December 12th will be paid a $0.38 dividend. The ex-dividend date is Friday, December 12th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.1%. This is a positive change from United Bankshares’s previous quarterly dividend of $0.37. United Bankshares’s dividend payout ratio is currently 48.52%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Piper Sandler set a $42.50 target price on shares of United Bankshares and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Zacks Research upgraded United Bankshares from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of United Bankshares in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.