Global Retirement Partners LLC Buys Shares of 13,613 United Bankshares, Inc. $UBSI

Global Retirement Partners LLC purchased a new position in United Bankshares, Inc. (NASDAQ:UBSI) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 13,613 shares of the financial services provider’s stock, valued at approximately $478,000.

Several other hedge funds also recently modified their holdings of UBSI. Dimensional Fund Advisors LP grew its stake in shares of United Bankshares by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 7,661,331 shares of the financial services provider’s stock worth $317,327,000 after acquiring an additional 56,808 shares during the last quarter. Geode Capital Management LLC raised its stake in 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 purchasing an additional 183,950 shares during the last quarter. Norges Bank bought a new stake in United Bankshares in the 4th quarter valued at $68,366,000. Bank of America Corp DE boosted its holdings in United Bankshares by 20.5% in the 1st quarter. Bank of America Corp DE now owns 1,631,894 shares of the financial services provider’s stock valued at $67,593,000 after purchasing an additional 277,836 shares during the period. Finally, AQR Capital Management LLC grew its position in United Bankshares by 74.7% in the 4th quarter. AQR Capital Management LLC now owns 1,625,205 shares of the financial services provider’s stock worth $62,408,000 after purchasing an additional 694,953 shares during the last quarter. 70.80% of the stock is owned by institutional investors.

United Bankshares Price Performance

Shares of United Bankshares stock opened at $47.69 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 0.98. The firm’s 50-day simple moving average is $47.01 and its 200-day simple moving average is $44.20. United Bankshares, Inc. has a twelve month low of $34.10 and a twelve month high of $49.62. The firm has a market cap of $6.50 billion, a P/E ratio of 12.99 and a beta of 0.71.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.06. The firm had revenue of $35.72 million during the quarter, compared to analyst estimates of $320.07 million. United Bankshares had a net margin of 27.97% and a return on equity of 9.39%. During the same quarter in the prior year, the business posted $0.85 earnings per share. As a group, research analysts expect that United Bankshares, Inc. will post 3.71 EPS for the current fiscal year.

Analysts Set New Price Targets

UBSI has been the subject of a number of research analyst reports. Hovde Group upped their price objective on shares of United Bankshares from $49.00 to $50.00 and gave the company a “market perform” rating in a research report on Friday, July 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of United Bankshares in a report on Monday, July 6th. Keefe, Bruyette & Woods lifted their price objective on United Bankshares from $46.00 to $48.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Raymond James Financial boosted their price objective on United Bankshares from $49.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Finally, Wall Street Zen upgraded United Bankshares from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, United Bankshares currently has a consensus rating of “Hold” and an average target price of $47.80.

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.