NFJ Investment Group LLC Makes New $2.93 Million Investment in United Bankshares, Inc. $UBSI

NFJ Investment Group LLC bought a new stake in United Bankshares, Inc. (NASDAQ:UBSI) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 63,924 shares of the financial services provider’s stock, valued at approximately $2,930,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd acquired a new stake in shares of United Bankshares during the third quarter worth approximately $25,000. Eurizon Capital SGR S.p.A. acquired a new stake in United Bankshares in the fourth quarter valued at $26,000. Root Financial Partners LLC raised its holdings in United Bankshares by 64.4% in the first quarter. Root Financial Partners LLC now owns 786 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 308 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in United Bankshares by 196.2% during the 4th quarter. Farther Finance Advisors LLC now owns 856 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 567 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in 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 acquiring an additional 988 shares during the last quarter. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods upped their target price on shares of United Bankshares from $46.00 to $48.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of United Bankshares in a research note on Monday, July 6th. Wall Street Zen upgraded United Bankshares from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Raymond James Financial boosted their price objective on United Bankshares from $49.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Finally, Hovde Group upped their price objective on United Bankshares from $49.00 to $50.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $47.80.

United Bankshares Stock Performance

United Bankshares stock opened at $47.70 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.97. United Bankshares, Inc. has a 12 month low of $34.10 and a 12 month high of $49.62. The company has a fifty day moving average price of $47.06 and a two-hundred day moving average price of $44.24. The company has a market cap of $6.50 billion, a PE ratio of 13.00 and a beta of 0.71.

United Bankshares (NASDAQ:UBSI) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.06. United Bankshares had a net margin of 27.97% and a return on equity of 9.39%. The company had revenue of $35.72 million for the quarter, compared to analysts’ expectations of $320.07 million. During the same period in the prior year, the company earned $0.85 earnings per share. Research analysts expect that United Bankshares, Inc. will post 3.71 earnings per share for the current year.

United Bankshares Company 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.