Kingsview Wealth Management LLC acquired a new position in United Bankshares, Inc. (NASDAQ:UBSI – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 25,144 shares of the financial services provider’s stock, valued at approximately $1,152,000.
Several other institutional investors have also modified their holdings of UBSI. Brighton Jones LLC grew its holdings in United Bankshares by 4.6% during the fourth quarter. Brighton Jones LLC now owns 16,873 shares of the financial services provider’s stock worth $634,000 after acquiring an additional 748 shares during the period. Royal Bank of Canada lifted its holdings in United Bankshares by 2.0% in the 1st quarter. Royal Bank of Canada now owns 66,649 shares of the financial services provider’s stock valued at $2,310,000 after acquiring an additional 1,298 shares during the last quarter. Millennium Management LLC boosted its position in shares of United Bankshares by 464.1% during the 1st quarter. Millennium Management LLC now owns 137,336 shares of the financial services provider’s stock valued at $4,761,000 after purchasing an additional 112,988 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of United Bankshares by 7.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 409,428 shares of the financial services provider’s stock valued at $14,195,000 after purchasing an additional 28,366 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in shares of United Bankshares by 564.0% in the 1st quarter. Jane Street Group LLC now owns 182,540 shares of the financial services provider’s stock worth $6,329,000 after purchasing an additional 155,051 shares during the last quarter. Institutional investors and hedge funds own 70.80% of the company’s stock.
United Bankshares Stock Up 0.2%
UBSI opened at $47.60 on Friday. The company has a market capitalization of $6.48 billion, a PE ratio of 12.97 and a beta of 0.71. The business has a 50-day moving average of $47.40 and a 200-day moving average of $44.38. United Bankshares, Inc. has a fifty-two week low of $34.10 and a fifty-two week high of $49.62. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.97.
United Bankshares Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, September 11th. United Bankshares’s payout ratio is currently 41.42%.
Analyst Ratings Changes
UBSI has been the topic of several recent research reports. Wall Street Zen upgraded shares of United Bankshares from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Hovde Group lifted their target price on United Bankshares from $49.00 to $50.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Raymond James Financial boosted their target price on United Bankshares from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Keefe, Bruyette & Woods increased their price target on United Bankshares from $46.00 to $48.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of United Bankshares in a research report on Monday, July 6th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, United Bankshares presently has a consensus rating of “Hold” and a consensus price target of $47.80.
View Our Latest Research Report on UBSI
United Bankshares Profile
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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