United Bankshares, Inc. (NASDAQ:UBSI) Stake Boosted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its position in United Bankshares, Inc. (NASDAQ:UBSI) by 3.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 256,203 shares of the financial services provider’s stock after purchasing an additional 8,174 shares during the period. Envestnet Asset Management Inc. owned approximately 0.19% of United Bankshares worth $8,311,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in UBSI. GAMMA Investing LLC boosted its stake in United Bankshares by 253.5% during the second quarter. GAMMA Investing LLC now owns 1,545 shares of the financial services provider’s stock valued at $50,000 after buying an additional 1,108 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new position in shares of United Bankshares in the fourth quarter worth $58,000. New Covenant Trust Company N.A. acquired a new stake in shares of United Bankshares during the 1st quarter valued at about $79,000. Innealta Capital LLC acquired a new position in shares of United Bankshares during the 2nd quarter worth $116,000. Finally, TFO Wealth Partners LLC lifted its position in shares of United Bankshares by 47,150.0% in the fourth quarter. TFO Wealth Partners LLC now owns 3,780 shares of the financial services provider’s stock worth $142,000 after buying an additional 3,772 shares during the last quarter. Institutional investors own 70.80% of the company’s stock.

United Bankshares Stock Performance

Shares of UBSI opened at $36.79 on Friday. United Bankshares, Inc. has a twelve month low of $25.35 and a twelve month high of $39.93. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.99 and a current ratio of 1.00. The firm’s 50 day moving average price is $37.21 and its two-hundred day moving average price is $34.69. The firm has a market cap of $4.97 billion, a P/E ratio of 14.04 and a beta of 0.99.

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

United Bankshares Announces Dividend

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 paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend is Friday, September 13th. United Bankshares’s dividend payout ratio is currently 56.49%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on UBSI shares. Stephens upped their price target on shares of United Bankshares from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. StockNews.com lowered shares of United Bankshares from a “hold” rating to a “sell” rating in a report on Thursday. Keefe, Bruyette & Woods lifted their price objective on United Bankshares from $38.00 to $40.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Finally, DA Davidson upped their target price on shares of United Bankshares from $36.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target 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.