Hilltop National Bank Buys New Position in United Bankshares, Inc. $UBSI

Hilltop National Bank purchased a new position in United Bankshares, Inc. (NASDAQ:UBSI) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 3,599 shares of the financial services provider’s stock, valued at approximately $131,000.

A number of other hedge funds have also recently modified their holdings of the business. Farther Finance Advisors LLC raised its holdings in United Bankshares by 726.5% in the 1st quarter. Farther Finance Advisors LLC now owns 967 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 850 shares during the period. Signaturefd LLC raised its stake in shares of United Bankshares by 2,281.0% in the second quarter. Signaturefd LLC now owns 1,000 shares of the financial services provider’s stock worth $36,000 after buying an additional 958 shares during the period. Meeder Asset Management Inc. lifted its position in shares of United Bankshares by 144.2% during the 1st quarter. Meeder Asset Management Inc. now owns 1,155 shares of the financial services provider’s stock valued at $40,000 after buying an additional 682 shares in the last quarter. CWM LLC lifted its position in shares of United Bankshares by 226.9% during the 1st quarter. CWM LLC now owns 1,651 shares of the financial services provider’s stock valued at $57,000 after buying an additional 1,146 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of United Bankshares by 44.4% during the 1st quarter. Fifth Third Bancorp now owns 1,699 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 522 shares during the period. Institutional investors own 70.80% of the company’s stock.

United Bankshares Stock Up 1.3%

Shares of NASDAQ UBSI opened at $37.19 on Friday. United Bankshares, Inc. has a 52-week low of $30.50 and a 52-week high of $44.43. The firm has a market capitalization of $5.27 billion, a price-to-earnings ratio of 13.14 and a beta of 0.76. The stock has a 50 day moving average price of $37.23 and a 200 day moving average price of $36.10. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98.

United Bankshares (NASDAQ:UBSI) last issued its earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.08. United Bankshares had a return on equity of 7.65% and a net margin of 23.14%.The business had revenue of $306.00 million during the quarter, compared to analyst estimates of $297.98 million. During the same period in the previous year, the company posted $0.71 EPS. Sell-side analysts expect 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. Shareholders of record on Friday, September 12th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.0%. The ex-dividend date was Friday, September 12th. United Bankshares’s dividend payout ratio is presently 52.30%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Zacks Research raised shares of United Bankshares to a “hold” rating in a report on Friday, August 8th. Weiss Ratings restated a “buy (b-)” rating on shares of United Bankshares in a research note on Saturday, September 27th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, United Bankshares currently has a consensus rating of “Hold” and an average price target of $40.50.

About United Bankshares

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.