Emerald Mutual Fund Advisers Trust Raises Position in United Bankshares, Inc. $UBSI

Emerald Mutual Fund Advisers Trust grew its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 479.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,108 shares of the financial services provider’s stock after purchasing an additional 16,636 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in United Bankshares were worth $733,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cerity Partners LLC raised its position in shares of United Bankshares by 0.8% in the 1st quarter. Cerity Partners LLC now owns 42,211 shares of the financial services provider’s stock valued at $1,463,000 after purchasing an additional 346 shares during the last quarter. Amalgamated Bank raised its position in shares of United Bankshares by 1.1% in the 1st quarter. Amalgamated Bank now owns 62,509 shares of the financial services provider’s stock valued at $2,167,000 after purchasing an additional 698 shares during the last quarter. New York State Teachers Retirement System raised its position 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 valued at $4,615,000 after purchasing an additional 600 shares during the last quarter. Focus Partners Wealth raised its holdings in shares of United Bankshares by 178.6% in the first quarter. Focus Partners Wealth now owns 73,102 shares of the financial services provider’s stock worth $2,534,000 after buying an additional 46,863 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of United Bankshares by 5.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 23,068 shares of the financial services provider’s stock worth $800,000 after buying an additional 1,110 shares during the last quarter. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

United Bankshares Trading Down 0.1%

Shares of United Bankshares stock opened at $35.77 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a fifty day moving average price of $37.12 and a 200 day moving average price of $36.44. United Bankshares, Inc. has a 1 year low of $30.50 and a 1 year high of $44.43. The stock has a market cap of $5.07 billion, a PE ratio of 11.73 and a beta of 0.76.

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

United Bankshares Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Piper Sandler set a $42.50 price target on shares of United Bankshares and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Zacks Research upgraded United Bankshares to a “hold” rating in a research note on Friday, August 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of United Bankshares in a research note on Thursday. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, United Bankshares presently has a consensus rating of “Hold” and an average price target of $41.83.

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.