Inspire Investing LLC boosted its position in United Bankshares, Inc. (NASDAQ:UBSI – Free Report) by 8.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,804 shares of the financial services provider’s stock after buying an additional 828 shares during the quarter. Inspire Investing LLC’s holdings in United Bankshares were worth $350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently made changes to their positions in the stock. Kapitalo Investimentos Ltda bought a new stake in United Bankshares during the fourth quarter worth about $58,000. GAMMA Investing LLC boosted its position 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 worth $50,000 after purchasing an additional 1,108 shares in the last quarter. New Covenant Trust Company N.A. bought a new stake in shares of United Bankshares in the 1st quarter worth approximately $79,000. Innealta Capital LLC bought a new stake in shares of United Bankshares in the 2nd quarter worth approximately $116,000. Finally, TFO Wealth Partners LLC lifted its position in 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 in the last quarter. 70.80% of the stock is currently owned by hedge funds and other institutional investors.
United Bankshares Price Performance
NASDAQ UBSI opened at $37.69 on Tuesday. United Bankshares, Inc. has a 1-year low of $25.35 and a 1-year high of $39.93. The business’s fifty day moving average price is $37.25 and its 200-day moving average price is $34.64. The stock has a market capitalization of $5.10 billion, a price-to-earnings ratio of 14.39 and a beta of 0.99. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.00 and a quick ratio of 0.99.
United Bankshares Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.48 dividend on an annualized basis and a yield of 3.93%. United Bankshares’s dividend payout ratio is presently 56.49%.
Wall Street Analysts Forecast Growth
UBSI has been the topic of several analyst reports. Keefe, Bruyette & Woods upped their price objective on United Bankshares from $38.00 to $40.00 and gave the company a “market perform” rating in a research report on Friday, July 26th. DA Davidson increased 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. Stephens increased 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. Finally, StockNews.com raised United Bankshares from a “sell” rating to a “hold” rating in a report on Wednesday, September 18th. Four equities 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, United Bankshares currently has an average rating of “Hold” and an average target price of $40.25.
Check Out Our Latest Research Report on UBSI
United Bankshares Profile
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.
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