BW Gestao de Investimentos Ltda. Takes Position in United Bankshares, Inc. $UBSI

BW Gestao de Investimentos Ltda. bought a new stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 40,000 shares of the financial services provider’s stock, valued at approximately $1,536,000.

A number of other institutional investors have also recently modified their holdings of UBSI. Norges Bank acquired a new stake in shares of United Bankshares during the 4th quarter valued at about $68,366,000. AQR Capital Management LLC grew its position in shares of United Bankshares by 65.5% during the 3rd quarter. AQR Capital Management LLC now owns 930,252 shares of the financial services provider’s stock valued at $34,615,000 after acquiring an additional 368,141 shares during the period. JPMorgan Chase & Co. grew its position in shares of United Bankshares by 64.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 782,292 shares of the financial services provider’s stock valued at $29,109,000 after acquiring an additional 307,159 shares during the period. Verition Fund Management LLC grew its position in shares of United Bankshares by 89.5% during the 3rd quarter. Verition Fund Management LLC now owns 520,964 shares of the financial services provider’s stock valued at $19,385,000 after acquiring an additional 246,006 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of United Bankshares by 5.1% during the 4th quarter. Geode Capital Management LLC now owns 3,802,338 shares of the financial services provider’s stock valued at $146,030,000 after acquiring an additional 183,950 shares during the period. 70.80% of the stock is currently owned by institutional investors and hedge funds.

United Bankshares Trading Up 2.0%

UBSI stock opened at $43.50 on Wednesday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.10. United Bankshares, Inc. has a 12-month low of $34.10 and a 12-month high of $45.92. The stock has a market cap of $5.99 billion, a price-to-earnings ratio of 12.18 and a beta of 0.71. The business’s 50-day moving average is $42.79 and its 200 day moving average is $41.18.

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

United Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Friday, June 12th. United Bankshares’s dividend payout ratio (DPR) is 42.58%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on UBSI. Weiss Ratings upgraded United Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 13th. Zacks Research cut United Bankshares from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $49.00 price objective on shares of United Bankshares in a report on Monday, April 27th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $45.75.

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.