Pacer Advisors Inc. Purchases New Shares in United Bankshares, Inc. $UBSI

Pacer Advisors Inc. acquired a new stake in United Bankshares, Inc. (NASDAQ:UBSI) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 25,146 shares of the financial services provider’s stock, valued at approximately $936,000.

Other large investors have also modified their holdings of the company. Ameritas Advisory Services LLC acquired a new stake in shares of United Bankshares during the 2nd quarter valued at about $25,000. Hantz Financial Services Inc. grew its holdings in United Bankshares by 261.8% in the second quarter. Hantz Financial Services Inc. now owns 749 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 542 shares during the period. Signaturefd LLC raised its stake in shares of United Bankshares by 2,281.0% during the 2nd quarter. Signaturefd LLC now owns 1,000 shares of the financial services provider’s stock worth $36,000 after buying an additional 958 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of United Bankshares by 528.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,175 shares of the financial services provider’s stock valued at $43,000 after buying an additional 988 shares in the last quarter. Finally, Allworth Financial LP lifted its position in shares of United Bankshares by 394.1% during the 2nd quarter. Allworth Financial LP now owns 1,265 shares of the financial services provider’s stock valued at $46,000 after buying an additional 1,009 shares in the last quarter. Institutional investors and hedge funds own 70.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on UBSI. Weiss Ratings reissued a “hold (c+)” rating on shares of United Bankshares in a report on Monday. Zacks Research cut shares of United Bankshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 22nd. Finally, Piper Sandler set a $42.50 price objective on shares of United Bankshares and gave the company an “overweight” rating in a report on Thursday, October 23rd. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, United Bankshares has a consensus rating of “Hold” and an average price target of $41.83.

United Bankshares Price Performance

United Bankshares stock opened at $38.39 on Friday. United Bankshares, Inc. has a 1 year low of $30.50 and a 1 year high of $40.52. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98. The company’s 50 day simple moving average is $37.71 and its 200-day simple moving average is $37.20. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of 12.59 and a beta of 0.78.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.10. The firm had revenue of $280.90 million for the quarter, compared to the consensus estimate of $307.78 million. United Bankshares had a return on equity of 8.15% and a net margin of 24.37%.During the same quarter in the previous year, the business earned $0.70 EPS. As a group, equities research analysts expect that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 12th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Friday, December 12th. This is a positive change from United Bankshares’s previous quarterly dividend of $0.37. United Bankshares’s payout ratio is presently 49.84%.

United Bankshares Profile

United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company’s core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.

United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.