Maltese Capital Management LLC Increases Holdings in United Bankshares, Inc. $UBSI

Maltese Capital Management LLC grew its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 39.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 142,500 shares of the financial services provider’s stock after acquiring an additional 40,000 shares during the quarter. Maltese Capital Management LLC’s holdings in United Bankshares were worth $5,472,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised 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 buying an additional 307,159 shares in the last quarter. SG Americas Securities LLC raised its position in shares of 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 buying an additional 35,673 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of United Bankshares by 1.2% during the 3rd quarter. Victory Capital Management Inc. now owns 3,624,628 shares of the financial services provider’s stock valued at $134,872,000 after buying an additional 42,255 shares in the last quarter. 1834 Investment Advisors Co. purchased a new stake in shares of United Bankshares during the 4th quarter valued at about $3,700,000. Finally, Artemis Investment Management LLP purchased a new stake in shares of United Bankshares during the 4th quarter valued at about $1,801,000. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

United Bankshares Stock Performance

United Bankshares stock opened at $44.86 on Tuesday. 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, Inc. has a 1-year low of $34.10 and a 1-year high of $46.09. The firm has a market capitalization of $6.18 billion, a P/E ratio of 12.57 and a beta of 0.71. The company’s 50-day moving average is $43.45 and its 200 day moving average is $41.73.

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, topping analysts’ consensus estimates of $0.85 by $0.04. United Bankshares had a net margin of 27.45% and a return on equity of 9.26%. The company had revenue of $316.58 million for the quarter, compared to analyst estimates of $315.15 million. During the same period in the prior year, the company posted $0.59 EPS. Research analysts forecast that United Bankshares, Inc. will post 3.64 EPS for the current year.

United Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Friday, June 12th. United Bankshares’s dividend payout ratio is 42.58%.

Analyst Ratings Changes

Several brokerages have recently issued reports on UBSI. Wall Street Zen cut shares of United Bankshares from a “hold” rating to a “sell” rating in a research report on Saturday. Zacks Research cut shares of United Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Finally, Raymond James Financial restated an “outperform” rating and set a $49.00 target price on shares of United Bankshares in a research report on Monday, April 27th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $45.75.

United Bankshares 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.