IFG Advisory LLC Buys Shares of 24,985 United Bankshares, Inc. (NASDAQ:UBSI)

IFG Advisory LLC bought a new stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 24,985 shares of the financial services provider’s stock, valued at approximately $866,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Cerity Partners LLC raised its holdings in United Bankshares by 0.8% in the first quarter. Cerity Partners LLC now owns 42,211 shares of the financial services provider’s stock worth $1,463,000 after purchasing an additional 346 shares in the last quarter. Amalgamated Bank grew its stake in shares of United Bankshares by 1.1% during the first quarter. Amalgamated Bank now owns 62,509 shares of the financial services provider’s stock worth $2,167,000 after acquiring an additional 698 shares during the last quarter. New York State Teachers Retirement System grew its stake in shares of United Bankshares by 0.5% during the first quarter. New York State Teachers Retirement System now owns 133,107 shares of the financial services provider’s stock worth $4,615,000 after acquiring an additional 600 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of United Bankshares by 8.6% during the first quarter. State of Alaska Department of Revenue now owns 16,719 shares of the financial services provider’s stock worth $579,000 after acquiring an additional 1,330 shares during the last quarter. Finally, Nomura Holdings Inc. purchased a new stake in shares of United Bankshares during the fourth quarter worth about $671,000. Hedge funds and other institutional investors own 70.80% of the company’s stock.

United Bankshares Price Performance

Shares of NASDAQ UBSI opened at $35.03 on Monday. United Bankshares, Inc. has a 52 week low of $30.50 and a 52 week high of $44.43. The firm has a market cap of $4.98 billion, a P/E ratio of 12.38 and a beta of 0.79. The business’s 50 day moving average price is $36.54 and its 200 day moving average price is $35.95. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.10.

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

United Bankshares Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

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.