Bank of Montreal Can Makes New Investment in United Bankshares, Inc. (NASDAQ:UBSI)

Bank of Montreal Can purchased a new position in shares of United Bankshares, Inc. (NASDAQ:UBSI) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 36,617 shares of the financial services provider’s stock, valued at approximately $1,168,000.

Several other institutional investors have also recently made changes to their positions in the stock. Staley Capital Advisers Inc. increased its position in shares of United Bankshares by 0.8% during the 4th quarter. Staley Capital Advisers Inc. now owns 46,050 shares of the financial services provider’s stock worth $1,865,000 after purchasing an additional 351 shares during the last quarter. Campbell Newman Asset Management Inc. increased its position in shares of United Bankshares by 0.9% during the 1st quarter. Campbell Newman Asset Management Inc. now owns 39,263 shares of the financial services provider’s stock worth $1,382,000 after purchasing an additional 362 shares during the last quarter. Anchor Capital Advisors LLC increased its holdings in shares of United Bankshares by 1.5% during the 1st quarter. Anchor Capital Advisors LLC now owns 25,920 shares of the financial services provider’s stock worth $912,000 after acquiring an additional 384 shares during the last quarter. Mariner LLC increased its holdings in shares of United Bankshares by 3.9% during the 4th quarter. Mariner LLC now owns 10,407 shares of the financial services provider’s stock worth $421,000 after acquiring an additional 395 shares during the last quarter. Finally, Systematic Financial Management LP increased its holdings in shares of United Bankshares by 0.3% during the 1st quarter. Systematic Financial Management LP now owns 174,335 shares of the financial services provider’s stock worth $6,137,000 after acquiring an additional 450 shares during the last quarter. Institutional investors and hedge funds own 71.63% of the company’s stock.

United Bankshares Stock Performance

Shares of NASDAQ UBSI opened at $29.58 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.97 and a quick ratio of 0.96. The stock’s fifty day moving average price is $27.95 and its two-hundred day moving average price is $29.81. United Bankshares, Inc. has a one year low of $25.35 and a one year high of $44.15. The firm has a market cap of $3.99 billion, a price-to-earnings ratio of 10.34 and a beta of 1.02.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. United Bankshares had a return on equity of 8.40% and a net margin of 26.26%. The firm had revenue of $262.11 million for the quarter, compared to analyst estimates of $256.20 million. During the same period in the prior year, the firm posted $0.76 EPS. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, equities analysts forecast that United Bankshares, Inc. will post 2.79 EPS for the current year.

United Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.87%. The ex-dividend date was Thursday, September 7th. United Bankshares’s dividend payout ratio is 50.35%.

Analyst Upgrades and Downgrades

UBSI has been the topic of a number of recent analyst reports. StockNews.com initiated coverage on United Bankshares in a report on Thursday, October 5th. They set a “sell” rating on the stock. Piper Sandler boosted their target price on United Bankshares from $33.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, July 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $36.25.

United Bankshares Profile

United Bankshares, Inc, a financial holding company, 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, NOW accounts, and interest-bearing checking accounts.