iSAM Funds UK Ltd Takes Position in United Bankshares, Inc. $UBSI

iSAM Funds UK Ltd acquired a new position in shares of United Bankshares, Inc. (NASDAQ:UBSI) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 13,100 shares of the financial services provider’s stock, valued at approximately $600,000.

A number of other hedge funds have also bought and sold shares of UBSI. BlackRock Inc. acquired a new position in United Bankshares in the second quarter valued at $925,212,000. Dimensional Fund Advisors LP raised its position in shares of United Bankshares by 0.7% in the 1st 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 in the last quarter. Geode Capital Management LLC raised its position in shares of United Bankshares by 5.1% in the 4th quarter. Geode Capital Management LLC now owns 3,802,338 shares of the financial services provider’s stock worth $146,030,000 after acquiring an additional 183,950 shares in the last quarter. Norges Bank acquired a new position in shares of United Bankshares in the 4th quarter valued at about $68,366,000. Finally, Bank of America Corp DE lifted its stake in shares of 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. Institutional investors own 70.80% of the company’s stock.

Insider Activity

In other United Bankshares news, Director Mark R. Nesselroad sold 3,200 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $46.42, for a total value of $148,544.00. Following the sale, the director directly owned 32,224 shares in the company, valued at $1,495,838.08. The trade was a 9.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.16% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

United Bankshares Price Performance

Shares of NASDAQ UBSI opened at $47.30 on Thursday. The company has a market capitalization of $6.44 billion, a PE ratio of 12.89 and a beta of 0.70. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.10. The stock’s 50 day moving average price is $47.50 and its 200-day moving average price is $44.43. United Bankshares, Inc. has a twelve month low of $34.10 and a twelve month high of $49.62.

United Bankshares (NASDAQ:UBSI) last released its earnings results 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. United Bankshares had a net margin of 27.97% and a return on equity of 9.39%. The firm had revenue of $323.82 million for the quarter, compared to analysts’ expectations of $320.07 million. During the same period in the previous year, the company earned $0.85 earnings per share. On average, equities analysts anticipate that United Bankshares, Inc. will post 3.71 EPS for the current year.

United Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Friday, September 11th. United Bankshares’s dividend payout ratio (DPR) 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.