United Bankshares, Inc. (NASDAQ:UBSI) Shares Acquired by Rafferty Asset Management LLC

Rafferty Asset Management LLC lifted its holdings in United Bankshares, Inc. (NASDAQ:UBSIFree Report) by 8.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 153,576 shares of the financial services provider’s stock after purchasing an additional 12,548 shares during the period. Rafferty Asset Management LLC owned approximately 0.11% of United Bankshares worth $5,767,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Victory Capital Management Inc. grew its stake in shares of United Bankshares by 2,745.7% in the fourth quarter. Victory Capital Management Inc. now owns 2,835,545 shares of the financial services provider’s stock worth $106,475,000 after acquiring an additional 2,735,901 shares in the last quarter. Norges Bank acquired a new stake in United Bankshares in the 4th quarter valued at about $45,308,000. Vaughan Nelson Investment Management L.P. raised its position in United Bankshares by 103.9% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,142,091 shares of the financial services provider’s stock valued at $42,885,000 after purchasing an additional 581,870 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of United Bankshares in the 3rd quarter valued at about $8,400,000. Finally, AQR Capital Management LLC grew its position in shares of United Bankshares by 3,558.3% during the third quarter. AQR Capital Management LLC now owns 305,687 shares of the financial services provider’s stock worth $8,434,000 after buying an additional 297,331 shares in the last quarter. 70.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on UBSI. Keefe, Bruyette & Woods dropped their price objective on shares of United Bankshares from $40.00 to $38.00 and set a “market perform” rating on the stock in a research report on Friday, May 3rd. Stephens dropped their target price on United Bankshares from $36.00 to $34.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, United Bankshares has an average rating of “Hold” and an average price target of $37.00.

Check Out Our Latest Analysis on United Bankshares

United Bankshares Stock Up 0.4 %

Shares of United Bankshares stock opened at $32.07 on Friday. The company has a market cap of $4.34 billion, a P/E ratio of 12.24 and a beta of 0.99. The firm has a fifty day moving average of $33.62 and a two-hundred day moving average of $34.84. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.99 and a current ratio of 0.99. United Bankshares, Inc. has a one year low of $25.35 and a one year high of $38.74.

United Bankshares (NASDAQ:UBSIGet Free Report) last issued its earnings results on Thursday, April 25th. The financial services provider reported $0.64 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.01). The company had revenue of $401.39 million for the quarter, compared to analysts’ expectations of $256.80 million. United Bankshares had a return on equity of 7.72% and a net margin of 22.51%. During the same quarter in the previous year, the firm posted $0.74 earnings per share. On average, analysts forecast that United Bankshares, Inc. will post 2.62 earnings per share for the current year.

United Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date is Friday, June 14th. United Bankshares’s dividend payout ratio is currently 56.49%.

United Bankshares Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for United Bankshares (NASDAQ:UBSI)

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