Louisiana State Employees Retirement System acquired a new position in shares of United Bankshares, Inc. (NASDAQ:UBSI – Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 40,500 shares of the financial services provider’s stock, valued at approximately $1,678,000.
Several other institutional investors and hedge funds also recently bought and sold shares of UBSI. Caitong International Asset Management Co. Ltd acquired a new position in shares of United Bankshares in the 3rd quarter valued at about $25,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of United Bankshares during the fourth quarter worth approximately $26,000. Farther Finance Advisors LLC grew its position in United Bankshares by 196.2% during the fourth quarter. Farther Finance Advisors LLC now owns 856 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 567 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in United Bankshares by 528.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,175 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 988 shares in the last quarter. Finally, Rothschild Investment LLC increased its stake in United Bankshares by 47.5% in the 4th quarter. Rothschild Investment LLC now owns 1,236 shares of the financial services provider’s stock valued at $47,000 after buying an additional 398 shares during the period. Hedge funds and other institutional investors own 70.80% of the company’s stock.
United Bankshares Price Performance
NASDAQ UBSI opened at $46.94 on Thursday. United Bankshares, Inc. has a 1 year low of $34.10 and a 1 year high of $46.98. The company has a fifty day simple moving average of $43.92 and a 200 day simple moving average of $42.35. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.10. The company has a market cap of $6.47 billion, a P/E ratio of 13.15 and a beta of 0.71.
United Bankshares Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $1.52 dividend on an annualized basis and a yield of 3.2%. United Bankshares’s dividend payout ratio (DPR) is 42.58%.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on UBSI. Wall Street Zen lowered shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Hovde Group began coverage on United Bankshares in a report on Wednesday, June 24th. They set a “market perform” rating and a $49.00 price objective for the company. Zacks Research cut United Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Finally, Raymond James Financial boosted their target price on United Bankshares from $49.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $46.60.
Read Our Latest Analysis on UBSI
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.
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