Eastern Bank Makes New Investment in United Bankshares, Inc. (NASDAQ:UBSI)

Eastern Bank purchased a new stake in United Bankshares, Inc. (NASDAQ:UBSI) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,337 shares of the financial services provider’s stock, valued at approximately $185,000.

A number of other large investors have also recently modified their holdings of the business. Tower Research Capital LLC TRC raised its position in United Bankshares by 2.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 12,432 shares of the financial services provider’s stock valued at $467,000 after purchasing an additional 327 shares in the last quarter. Cerity Partners LLC increased its position in shares of United Bankshares by 0.8% during the 1st quarter. Cerity Partners LLC now owns 42,211 shares of the financial services provider’s stock valued at $1,463,000 after purchasing an additional 346 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in shares of United Bankshares by 1.8% during the 1st quarter. Teacher Retirement System of Texas now owns 20,813 shares of the financial services provider’s stock valued at $722,000 after buying an additional 371 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of United Bankshares by 37.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,480 shares of the financial services provider’s stock valued at $56,000 after buying an additional 400 shares in the last quarter. Finally, Captrust Financial Advisors lifted its position in United Bankshares by 0.7% in the 4th quarter. Captrust Financial Advisors now owns 73,655 shares of the financial services provider’s stock worth $2,766,000 after buying an additional 510 shares during the last quarter. Institutional investors own 70.80% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on UBSI shares. Wall Street Zen cut shares of United Bankshares from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. Keefe, Bruyette & Woods reduced their target price on shares of United Bankshares from $42.00 to $40.00 and set a “market perform” rating on the stock in a report on Monday, April 28th.

United Bankshares Stock Performance

NASDAQ:UBSI opened at $35.52 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98. United Bankshares, Inc. has a fifty-two week low of $30.50 and a fifty-two week high of $44.43. The firm has a market cap of $5.05 billion, a PE ratio of 12.55 and a beta of 0.76. The business has a 50 day moving average price of $36.56 and a 200-day moving average price of $36.00.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.08. The company had revenue of $306.00 million during the quarter, compared to analyst estimates of $297.98 million. United Bankshares had a net margin of 23.14% and a return on equity of 7.65%. During the same period in the prior year, the business posted $0.71 EPS. Equities research analysts predict that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Friday, June 13th. United Bankshares’s dividend payout ratio is currently 52.30%.

United Bankshares Company 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.