MQS Management LLC Takes $357,000 Position in United Bankshares, Inc. (NASDAQ:UBSI)

MQS Management LLC acquired a new position in shares of United Bankshares, Inc. (NASDAQ:UBSI) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 10,990 shares of the financial services provider’s stock, valued at approximately $357,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in UBSI. Vaughan Nelson Investment Management L.P. increased its stake in shares of United Bankshares by 14.8% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,311,291 shares of the financial services provider’s stock worth $46,931,000 after buying an additional 169,200 shares during the period. UBS Group AG increased its position in shares of United Bankshares by 77.5% in the fourth quarter. UBS Group AG now owns 316,889 shares of the financial services provider’s stock valued at $11,899,000 after acquiring an additional 138,317 shares during the period. SG Americas Securities LLC raised its stake in shares of United Bankshares by 218.2% during the second quarter. SG Americas Securities LLC now owns 29,676 shares of the financial services provider’s stock valued at $963,000 after acquiring an additional 20,350 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of United Bankshares by 77.8% during the first quarter. BNP Paribas Financial Markets now owns 69,932 shares of the financial services provider’s stock worth $2,503,000 after purchasing an additional 30,590 shares during the period. Finally, Ontario Teachers Pension Plan Board bought a new stake in shares of United Bankshares in the first quarter worth about $901,000. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

UBSI has been the subject of several research analyst reports. Stephens raised their price objective on shares of United Bankshares from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. StockNews.com raised United Bankshares from a “sell” rating to a “hold” rating in a research note on Wednesday. Keefe, Bruyette & Woods increased their price objective on United Bankshares from $38.00 to $40.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. Finally, DA Davidson boosted their target price on shares of United Bankshares from $36.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $40.25.

United Bankshares Stock Up 2.4 %

UBSI stock opened at $38.49 on Friday. The business has a 50 day moving average of $37.04 and a 200 day moving average of $34.58. The firm has a market cap of $5.20 billion, a PE ratio of 14.69 and a beta of 0.99. United Bankshares, Inc. has a twelve month low of $25.35 and a twelve month high of $39.93. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.31.

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, beating the consensus estimate of $0.64 by $0.07. The firm had revenue of $255.94 million during the quarter, compared to the consensus estimate of $255.54 million. United Bankshares had a return on equity of 7.72% and a net margin of 22.44%. The company’s revenue was down 2.6% on a year-over-year basis. During the same period last year, the company earned $0.68 earnings per share. On average, research analysts forecast that United Bankshares, Inc. will post 2.7 EPS for the current fiscal year.

United Bankshares Announces Dividend

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 3.85%. United Bankshares’s dividend payout ratio is presently 56.49%.

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.