Louisiana State Employees Retirement System Has $1.24 Million Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

Louisiana State Employees Retirement System decreased its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,100 shares of the financial services provider’s stock after selling 600 shares during the period. Louisiana State Employees Retirement System’s holdings in United Bankshares were worth $1,236,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in United Bankshares by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 14,202,951 shares of the financial services provider’s stock worth $533,321,000 after purchasing an additional 71,359 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of United Bankshares by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,291,001 shares of the financial services provider’s stock worth $273,782,000 after buying an additional 172,997 shares in the last quarter. Victory Capital Management Inc. raised its position in United Bankshares by 2,745.7% in the 4th quarter. Victory Capital Management Inc. now owns 2,835,545 shares of the financial services provider’s stock valued at $106,475,000 after buying an additional 2,735,901 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in United Bankshares by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,486,804 shares of the financial services provider’s stock valued at $55,829,000 after acquiring an additional 60,465 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its position in United Bankshares by 1.8% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,334,931 shares of the financial services provider’s stock worth $43,305,000 after acquiring an additional 23,640 shares during the last quarter. 70.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on UBSI shares. Stephens increased their price objective on shares of United Bankshares from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods raised their price objective on United Bankshares from $38.00 to $40.00 and gave the company a “market perform” rating in a research report on Friday, July 26th. StockNews.com raised United Bankshares from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Finally, DA Davidson raised their price target on United Bankshares from $36.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $40.25.

United Bankshares Trading Down 0.7 %

Shares of UBSI stock opened at $38.43 on Tuesday. United Bankshares, Inc. has a 12-month low of $25.35 and a 12-month high of $39.93. The company has a market capitalization of $5.20 billion, a PE ratio of 14.67 and a beta of 0.99. The firm has a 50 day moving average price of $35.09 and a two-hundred day moving average price of $34.23. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.31.

United Bankshares (NASDAQ:UBSI) last posted its earnings results on Thursday, July 25th. The financial services provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.07. United Bankshares had a return on equity of 7.72% and a net margin of 22.44%. The company had revenue of $255.94 million during the quarter, compared to the consensus estimate of $255.54 million. During the same quarter last year, the firm earned $0.68 earnings per share. The company’s revenue was down 2.6% on a year-over-year basis. As a group, analysts predict that United Bankshares, Inc. will post 2.7 earnings per share for the current year.

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.