Louisiana State Employees Retirement System Lowers Position in United Bankshares, Inc. (NASDAQ:UBSI)

Louisiana State Employees Retirement System cut its position in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 1.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,400 shares of the financial services provider’s stock after selling 700 shares during the quarter. Louisiana State Employees Retirement System’s holdings in United Bankshares were worth $1,388,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC increased its position in shares of United Bankshares by 218.2% during the 2nd quarter. SG Americas Securities LLC now owns 29,676 shares of the financial services provider’s stock valued at $963,000 after purchasing an additional 20,350 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of United Bankshares by 77.8% during the 1st quarter. BNP Paribas Financial Markets now owns 69,932 shares of the financial services provider’s stock valued at $2,503,000 after purchasing an additional 30,590 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of United Bankshares by 37.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 51,455 shares of the financial services provider’s stock valued at $1,811,000 after purchasing an additional 14,080 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new position in shares of United Bankshares during the 1st quarter valued at about $901,000. Finally, Earnest Partners LLC increased its position in shares of United Bankshares by 1.8% during the 2nd quarter. Earnest Partners LLC now owns 4,253,797 shares of the financial services provider’s stock valued at $137,993,000 after purchasing an additional 74,638 shares during the last quarter. 70.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on UBSI. Keefe, Bruyette & Woods raised their price target 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. StockNews.com lowered United Bankshares from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. DA Davidson raised their price target on United Bankshares from $36.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Finally, Stephens raised their price target on United Bankshares from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.25.

United Bankshares Price Performance

Shares of UBSI stock opened at $37.61 on Friday. The firm has a market cap of $5.09 billion, a P/E ratio of 14.25 and a beta of 0.99. United Bankshares, Inc. has a fifty-two week low of $28.77 and a fifty-two week high of $39.93. The business’s 50 day moving average price is $37.31 and its 200-day moving average price is $35.17. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.97 and a current ratio of 0.97.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.03. The firm had revenue of $414.67 million for the quarter, compared to analyst estimates of $260.30 million. United Bankshares had a return on equity of 7.58% and a net margin of 22.05%. During the same period last year, the company earned $0.71 EPS. On average, equities research analysts anticipate that United Bankshares, Inc. will post 2.7 earnings per share for the current year.

United Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date was Friday, September 13th. United Bankshares’s payout ratio is presently 56.06%.

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.