United Bankshares, Inc. (NASDAQ:UBSI) Declares Quarterly Dividend of $0.38

United Bankshares, Inc. (NASDAQ:UBSI) announced a quarterly dividend on Monday, August 24th. Shareholders of record on Friday, September 11th will be paid a dividend of 0.38 per share by the financial services provider on Thursday, October 1st. This represents a c) dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Friday, September 11th.

United Bankshares has increased its dividend by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 26 years. United Bankshares has a dividend payout ratio of 47.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect United Bankshares to earn $3.88 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 39.2%.

United Bankshares Price Performance

UBSI stock opened at $47.80 on Tuesday. The firm’s 50-day moving average price is $47.17 and its two-hundred day moving average price is $44.30. United Bankshares has a 12-month low of $34.10 and a 12-month high of $49.62. The stock has a market capitalization of $6.51 billion, a price-to-earnings ratio of 13.02 and a beta of 0.71. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10.

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. The firm had revenue of $323.82 million during the quarter, compared to the consensus estimate of $320.07 million. United Bankshares had a net margin of 27.97% and a return on equity of 9.39%. During the same period in the prior year, the firm posted $0.85 earnings per share. As a group, equities analysts predict that United Bankshares will post 3.71 earnings per share for the current year.

Institutional Investors Weigh In On United Bankshares

A number of large investors have recently modified their holdings of the stock. California State Teachers Retirement System raised its stake in United Bankshares by 4,650.6% in the second quarter. California State Teachers Retirement System now owns 7,393,983 shares of the financial services provider’s stock worth $338,866,000 after buying an additional 7,238,340 shares in the last quarter. Guardian Wealth Advisors LLC NC bought a new stake in United Bankshares during the 2nd quarter valued at approximately $247,000. AlphaGrep UK Ltd purchased a new position in shares of United Bankshares during the 2nd quarter worth approximately $401,000. AXQ Capital LP purchased a new position in shares of United Bankshares during the 2nd quarter worth approximately $466,000. Finally, iSAM Funds UK Ltd bought a new position in shares of United Bankshares in the 2nd quarter worth approximately $600,000. Institutional investors own 70.80% of the company’s stock.

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.