15,513 Shares in United Bankshares, Inc. $UBSI Acquired by Ieq Capital LLC

Ieq Capital LLC bought a new stake in United Bankshares, Inc. (NASDAQ:UBSI) during the second quarter, Holdings Channel.com reports. The fund bought 15,513 shares of the financial services provider’s stock, valued at approximately $544,000.

Several other hedge funds have also bought and sold shares of UBSI. Burnham & Co LLC bought a new position in shares of United Bankshares in the 2nd quarter worth $162,000. Callan Family Office LLC bought a new stake in shares of United Bankshares during the 2nd quarter worth $212,000. OneAscent Wealth Management LLC bought a new stake in shares of United Bankshares during the 2nd quarter worth $314,000. Allworth Financial LP purchased a new position in United Bankshares in the second quarter worth $43,000. Finally, NFJ Investment Group LLC bought a new position in United Bankshares in the second quarter valued at $2,930,000. 70.80% of the stock is currently owned by institutional investors.

United Bankshares Trading Up 0.2%

NASDAQ UBSI opened at $47.60 on Friday. The stock has a market cap of $6.48 billion, a P/E ratio of 12.97 and a beta of 0.71. United Bankshares, Inc. has a fifty-two week low of $34.10 and a fifty-two week high of $49.62. The stock has a 50 day simple moving average of $47.40 and a two-hundred day simple moving average of $44.38. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 0.98.

United Bankshares (NASDAQ:UBSI) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.06. The firm had revenue of $323.82 million for the quarter, compared to analysts’ expectations of $320.07 million. United Bankshares had a return on equity of 9.39% and a net margin of 27.97%.During the same period in the previous year, the firm earned $0.85 earnings per share. On average, analysts forecast that United Bankshares, Inc. will post 3.71 earnings per share for the current year.

United Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be issued a $0.38 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.52 annualized dividend and a yield of 3.2%. United Bankshares’s payout ratio is 41.42%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Raymond James Financial raised their price target on United Bankshares from $49.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of United Bankshares in a research report on Monday, July 6th. Keefe, Bruyette & Woods raised their price objective on United Bankshares from $46.00 to $48.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Hovde Group raised their price objective on United Bankshares from $49.00 to $50.00 and gave the company a “market perform” rating in a report on Friday, July 24th. Finally, Wall Street Zen upgraded United Bankshares from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, United Bankshares currently has an average rating of “Hold” and a consensus target price of $47.80.

About United Bankshares

United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company’s core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.

United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.