Kingsview Wealth Management LLC Invests $1.15 Million in United Bankshares, Inc. $UBSI

Kingsview Wealth Management LLC acquired a new stake in United Bankshares, Inc. (NASDAQ:UBSI) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,144 shares of the financial services provider’s stock, valued at approximately $1,152,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC acquired a new position in United Bankshares in the 2nd quarter valued at about $251,000. United Capital Financial Advisors LLC acquired a new stake in shares of United Bankshares during the 2nd quarter worth about $1,035,000. Papamarkou Wellner Asset Management inc. acquired a new position in shares of United Bankshares in the second quarter valued at approximately $961,000. Jefferies Financial Group Inc. acquired a new stake in United Bankshares during the second quarter worth approximately $334,000. Finally, Public Employees Retirement System of Ohio acquired a new position in United Bankshares in the 2nd quarter valued at $246,000. Hedge funds and other institutional investors own 70.80% of the company’s stock.

Analysts Set New Price Targets

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

United Bankshares Trading Up 0.2%

Shares of UBSI stock opened at $47.60 on Friday. United Bankshares, Inc. has a 1 year low of $34.10 and a 1 year high of $49.62. The firm has a market capitalization of $6.48 billion, a PE ratio of 12.97 and a beta of 0.71. The stock has a fifty day moving average of $47.40 and a two-hundred day moving average of $44.38. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 0.98.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.06. The business had revenue of $323.82 million for the quarter, compared to analysts’ expectations 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 previous year, the business earned $0.85 earnings per share. As a group, research analysts expect that United Bankshares, Inc. will post 3.71 EPS for the current year.

United Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, September 11th. United Bankshares’s dividend payout ratio is currently 41.42%.

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.