EP Wealth Advisors LLC Makes New Investment in United Bankshares, Inc. (NASDAQ:UBSI)

EP Wealth Advisors LLC bought a new stake in United Bankshares, Inc. (NASDAQ:UBSI) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,437 shares of the financial services provider’s stock, valued at approximately $236,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. increased its position in shares of United Bankshares by 0.3% during the 1st quarter. BlackRock Inc. now owns 19,825,470 shares of the financial services provider’s stock valued at $697,857,000 after purchasing an additional 51,225 shares during the last quarter. State Street Corp raised its position in United Bankshares by 3.6% in the first quarter. State Street Corp now owns 14,758,953 shares of the financial services provider’s stock worth $524,767,000 after acquiring an additional 515,033 shares during the period. Vanguard Group Inc. boosted its stake in United Bankshares by 0.9% in the third quarter. Vanguard Group Inc. now owns 13,726,992 shares of the financial services provider’s stock valued at $490,739,000 after acquiring an additional 127,760 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of United Bankshares by 3.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,439,537 shares of the financial services provider’s stock valued at $261,871,000 after acquiring an additional 234,428 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of United Bankshares by 4.0% during the 1st quarter. Geode Capital Management LLC now owns 2,657,887 shares of the financial services provider’s stock worth $93,558,000 after purchasing an additional 101,008 shares during the last quarter. 71.63% of the stock is owned by hedge funds and other institutional investors.

United Bankshares Trading Down 2.1 %

Shares of UBSI stock opened at $27.59 on Tuesday. United Bankshares, Inc. has a 1 year low of $27.54 and a 1 year high of $44.15. The company’s fifty day simple moving average is $30.78 and its two-hundred day simple moving average is $31.93. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of 9.48 and a beta of 1.03.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02. The company had revenue of $381.11 million for the quarter, compared to analyst estimates of $259.14 million. United Bankshares had a return on equity of 8.64% and a net margin of 28.52%. During the same period in the previous year, the company posted $0.71 EPS. As a group, analysts anticipate that United Bankshares, Inc. will post 2.68 earnings per share for the current year.

United Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.22%. The ex-dividend date is Thursday, September 7th. United Bankshares’s payout ratio is 49.48%.

Analyst Upgrades and Downgrades

UBSI has been the topic of several research analyst reports. Piper Sandler upped their price objective on United Bankshares from $33.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, July 31st. StockNews.com initiated coverage on United Bankshares in a report on Thursday, August 17th. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $36.25.

United Bankshares Company Profile

United Bankshares, Inc, a financial holding company, 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, NOW accounts, and interest-bearing checking accounts.