United Bankshares, Inc. (NASDAQ:UBSI) Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 1.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,813 shares of the financial services provider’s stock after purchasing an additional 371 shares during the period. Teacher Retirement System of Texas’ holdings in United Bankshares were worth $722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of United Bankshares by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 14,310,562 shares of the financial services provider’s stock valued at $537,362,000 after buying an additional 115,681 shares during the last quarter. Earnest Partners LLC grew its holdings in United Bankshares by 0.7% during the fourth quarter. Earnest Partners LLC now owns 4,199,136 shares of the financial services provider’s stock worth $157,678,000 after acquiring an additional 29,898 shares during the period. Northern Trust Corp raised its position in United Bankshares by 13.7% during the fourth quarter. Northern Trust Corp now owns 1,774,018 shares of the financial services provider’s stock valued at $66,614,000 after acquiring an additional 213,441 shares in the last quarter. Norges Bank acquired a new position in United Bankshares in the fourth quarter valued at approximately $54,712,000. Finally, ProShare Advisors LLC boosted its position in United Bankshares by 3.9% in the 4th quarter. ProShare Advisors LLC now owns 1,123,987 shares of the financial services provider’s stock worth $42,206,000 after purchasing an additional 41,819 shares in the last quarter. 70.80% of the stock is owned by hedge funds and other institutional investors.

United Bankshares Trading Down 3.6%

Shares of NASDAQ:UBSI opened at $36.57 on Wednesday. The business’s 50 day moving average price is $36.54 and its 200-day moving average price is $36.03. United Bankshares, Inc. has a 1 year low of $30.51 and a 1 year high of $44.43. The firm has a market capitalization of $5.20 billion, a price-to-earnings ratio of 13.59 and a beta of 0.76. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.98.

United Bankshares (NASDAQ:UBSI) last announced its earnings results on Thursday, April 24th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.07). United Bankshares had a net margin of 22.35% and a return on equity of 7.36%. The company had revenue of $289.61 million during the quarter, compared to analyst estimates of $279.02 million. During the same quarter last year, the business earned $0.64 EPS. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. On average, equities research analysts forecast that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.05%. United Bankshares’s payout ratio is currently 55.02%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on UBSI. Keefe, Bruyette & Woods decreased their target price on shares of United Bankshares from $42.00 to $40.00 and set a “market perform” rating for the company in a research note on Monday, April 28th. Wall Street Zen downgraded shares of United Bankshares from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $40.63.

United Bankshares Profile

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.