18,548 Shares in United Bankshares, Inc. $UBSI Purchased by Csenge Advisory Group

Csenge Advisory Group bought a new position in shares of United Bankshares, Inc. (NASDAQ:UBSI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 18,548 shares of the financial services provider’s stock, valued at approximately $651,000.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in United Bankshares in the second quarter valued at approximately $925,212,000. Norges Bank purchased a new position in shares of United Bankshares during the fourth quarter valued at about $68,366,000. Bank of New York Mellon Corp bought a new position in shares of United Bankshares during the 2nd quarter valued at approximately $60,968,000. Vaughan Nelson Investment Management L.P. bought a new stake in shares of United Bankshares in the 1st quarter worth about $34,476,000. Finally, AQR Capital Management LLC grew its position in United Bankshares by 74.7% in the fourth quarter. AQR Capital Management LLC now owns 1,625,205 shares of the financial services provider’s stock worth $62,408,000 after acquiring an additional 694,953 shares in the last quarter. 70.80% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

United Bankshares Stock Performance

Shares of UBSI 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 has a market cap of $6.50 billion, a price-to-earnings ratio of 12.99 and a beta of 0.71. United Bankshares, Inc. has a 52 week low of $34.10 and a 52 week high of $49.62. The firm’s 50-day simple moving average is $47.01 and its two-hundred day simple moving average is $44.20.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.95 EPS for the quarter, beating the consensus estimate of $0.89 by $0.06. United Bankshares had a net margin of 27.97% and a return on equity of 9.39%. The company had revenue of $35.72 million during the quarter, compared to analysts’ expectations of $320.07 million. During the same quarter in the previous year, the company earned $0.85 earnings per share. As a group, equities analysts forecast that United Bankshares, Inc. will post 3.71 earnings per share for the current year.

About United Bankshares

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.