ProShare Advisors LLC Grows Stake in United Bankshares, Inc. (NASDAQ:UBSI)

ProShare Advisors LLC boosted its position in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 110.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,206,434 shares of the financial services provider’s stock after purchasing an additional 1,157,579 shares during the quarter. ProShare Advisors LLC owned about 1.63% of United Bankshares worth $71,577,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Kapitalo Investimentos Ltda purchased a new position in United Bankshares during the 4th quarter worth $58,000. GAMMA Investing LLC increased its holdings in shares of United Bankshares by 253.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,545 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 1,108 shares during the period. New Covenant Trust Company N.A. purchased a new position in shares of United Bankshares in the 1st quarter valued at $79,000. Innealta Capital LLC purchased a new position in shares of United Bankshares in the 2nd quarter valued at $116,000. Finally, TFO Wealth Partners LLC increased its holdings in shares of United Bankshares by 47,150.0% in the 4th quarter. TFO Wealth Partners LLC now owns 3,780 shares of the financial services provider’s stock valued at $142,000 after acquiring an additional 3,772 shares during the period. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

United Bankshares Stock Down 1.7 %

United Bankshares stock opened at $37.84 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.00 and a quick ratio of 0.99. The stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of 14.44 and a beta of 0.99. United Bankshares, Inc. has a 1-year low of $25.35 and a 1-year high of $39.93. The business has a fifty day moving average price of $37.20 and a 200-day moving average price of $34.62.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.07. The firm had revenue of $255.94 million during the quarter, compared to analysts’ expectations of $255.54 million. United Bankshares had a return on equity of 7.72% and a net margin of 22.44%. The business’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.68 EPS. Equities research analysts forecast that United Bankshares, Inc. will post 2.7 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, September 13th. This represents a $1.48 dividend on an annualized basis and a yield of 3.91%. United Bankshares’s dividend payout ratio is currently 56.49%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. StockNews.com upgraded United Bankshares from a “sell” rating to a “hold” rating in a report on Wednesday, September 18th. Stephens lifted their price target on United Bankshares from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods lifted their price target on United Bankshares from $38.00 to $40.00 and gave the company a “market perform” rating in a report on Friday, July 26th. Finally, DA Davidson lifted their price target on United Bankshares from $36.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $40.25.

About United Bankshares

United Bankshares, Inc, through its subsidiaries, primarily provides commercial and retail banking products and services in the United States. It operates through two segments, Community Banking and Mortgage Banking. The company accepts checking, savings, and time and money market accounts; individual retirement accounts; and demand deposits, statement and special savings, and NOW accounts.