United Bankshares, Inc. $UBSI Shares Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. grew its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 2.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 112,662 shares of the financial services provider’s stock after buying an additional 2,731 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.08% of United Bankshares worth $4,104,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Cerity Partners LLC raised its holdings in United Bankshares by 0.8% during 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. Lynx Investment Advisory increased its position in shares of United Bankshares by 3.5% during the 2nd quarter. Lynx Investment Advisory now owns 10,670 shares of the financial services provider’s stock valued at $389,000 after purchasing an additional 356 shares during the period. Teacher Retirement System of Texas raised its stake in shares of United Bankshares by 1.8% in the 1st quarter. Teacher Retirement System of Texas now owns 20,813 shares of the financial services provider’s stock worth $722,000 after buying an additional 371 shares in the last quarter. New York State Teachers Retirement System raised its stake in shares of United Bankshares by 0.5% in the 1st quarter. New York State Teachers Retirement System now owns 133,107 shares of the financial services provider’s stock worth $4,615,000 after buying an additional 600 shares in the last quarter. Finally, Securian Asset Management Inc. lifted its holdings in shares of United Bankshares by 6.3% in the first quarter. Securian Asset Management Inc. now owns 10,842 shares of the financial services provider’s stock valued at $376,000 after buying an additional 644 shares during the period. 70.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on UBSI. Zacks Research raised United Bankshares to a “hold” rating in a report on Friday, August 8th. Piper Sandler set a $42.50 target price on shares of United Bankshares and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Finally, Weiss Ratings lowered shares of United Bankshares from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $41.83.

United Bankshares Stock Performance

Shares of UBSI opened at $36.52 on Wednesday. The company has a 50-day moving average of $37.16 and a two-hundred day moving average of $36.42. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of 11.97 and a beta of 0.76. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.99 and a quick ratio of 0.99. United Bankshares, Inc. has a one year low of $30.50 and a one year high of $44.43.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.82 by $0.10. United Bankshares had a net margin of 24.37% and a return on equity of 8.15%. The business had revenue of $324.10 million during the quarter, compared to the consensus estimate of $307.78 million. During the same quarter in the prior year, the firm earned $0.70 EPS. On average, equities research analysts expect that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, September 12th. United Bankshares’s dividend payout ratio (DPR) is 48.52%.

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.