Fifth Third Bancorp Purchases 47,674 Shares of United Bankshares, Inc. $UBSI

Fifth Third Bancorp raised its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 3,502.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 49,035 shares of the financial services provider’s stock after acquiring an additional 47,674 shares during the quarter. Fifth Third Bancorp’s holdings in United Bankshares were worth $2,031,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its holdings in United Bankshares by 168.3% during the 4th quarter. SG Americas Securities LLC now owns 56,866 shares of the financial services provider’s stock valued at $2,184,000 after acquiring an additional 35,673 shares during the period. 1834 Investment Advisors Co. bought a new stake in shares of United Bankshares during the fourth quarter valued at about $3,700,000. Artemis Investment Management LLP bought a new stake in shares of United Bankshares during the fourth quarter valued at about $1,801,000. OLD National Bancorp IN purchased a new stake in shares of United Bankshares in the fourth quarter worth about $4,895,000. Finally, NTV Asset Management LLC lifted its holdings in shares of United Bankshares by 35.5% in the fourth quarter. NTV Asset Management LLC now owns 172,025 shares of the financial services provider’s stock worth $6,606,000 after buying an additional 45,100 shares in the last quarter. Institutional investors own 70.80% of the company’s stock.

United Bankshares Price Performance

Shares of NASDAQ:UBSI opened at $46.91 on Thursday. The company’s fifty day moving average price is $44.88 and its 200-day moving average price is $43.11. The firm has a market capitalization of $6.46 billion, a price-to-earnings ratio of 13.14 and a beta of 0.71. United Bankshares, Inc. has a one year low of $34.10 and a one year high of $48.22. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.98.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.04. United Bankshares had a net margin of 27.45% and a return on equity of 9.26%. The firm had revenue of $316.58 million for the quarter, compared to analysts’ expectations of $315.15 million. During the same quarter last year, the company posted $0.59 EPS. On average, equities research analysts anticipate that United Bankshares, Inc. will post 3.64 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th were given a dividend of $0.38 per share. The ex-dividend date was Friday, June 12th. This represents a $1.52 dividend on an annualized basis and a yield of 3.2%. United Bankshares’s dividend payout ratio (DPR) is presently 42.58%.

Analyst Ratings Changes

UBSI has been the topic of a number of analyst reports. Hovde Group began coverage on shares of United Bankshares in a report on Wednesday, June 24th. They set a “market perform” rating and a $49.00 target price on the stock. Raymond James Financial boosted their price target on shares of United Bankshares from $49.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Zacks Research downgraded United Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Wall Street Zen lowered United Bankshares from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of United Bankshares in a research report on Monday, July 6th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $46.60.

About United Bankshares

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.