Arizona State Retirement System boosted its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI – Get Rating) by 3.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,978 shares of the financial services provider’s stock after purchasing an additional 1,213 shares during the period. Arizona State Retirement System’s holdings in United Bankshares were worth $1,538,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of UBSI. Cassaday & Co Wealth Management LLC purchased a new position in shares of United Bankshares in the fourth quarter valued at about $261,000. Edgemoor Investment Advisors Inc. purchased a new position in shares of United Bankshares in the fourth quarter valued at about $617,000. LPL Financial LLC lifted its position in shares of United Bankshares by 0.3% in the fourth quarter. LPL Financial LLC now owns 95,290 shares of the financial services provider’s stock valued at $3,858,000 after acquiring an additional 321 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of United Bankshares by 3.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 96,011 shares of the financial services provider’s stock valued at $3,887,000 after acquiring an additional 3,248 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its position in shares of United Bankshares by 0.7% in the fourth quarter. Retirement Systems of Alabama now owns 177,485 shares of the financial services provider’s stock valued at $7,186,000 after acquiring an additional 1,295 shares in the last quarter. 68.73% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
UBSI has been the topic of several research reports. Keefe, Bruyette & Woods reduced their target price on United Bankshares from $38.00 to $36.00 and set a “market perform” rating on the stock in a report on Thursday, April 6th. Raymond James reduced their target price on United Bankshares from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Thursday, April 6th. StockNews.com initiated coverage on United Bankshares in a report on Thursday, March 16th. They issued a “sell” rating on the stock. 3M reaffirmed a “maintains” rating on shares of United Bankshares in a report on Friday, April 28th. Finally, Stephens started coverage on United Bankshares in a research note on Tuesday, April 4th. They set an “equal weight” rating and a $32.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, United Bankshares has an average rating of “Hold” and a consensus target price of $39.00.
United Bankshares Trading Down 3.0 %
United Bankshares (NASDAQ:UBSI – Get Rating) last released its earnings results on Wednesday, April 26th. The financial services provider reported $0.74 EPS for the quarter, meeting analysts’ consensus estimates of $0.74. The firm had revenue of $362.05 million for the quarter, compared to analysts’ expectations of $272.72 million. United Bankshares had a return on equity of 8.78% and a net margin of 31.24%. During the same quarter in the prior year, the firm posted $0.60 earnings per share. On average, equities analysts forecast that United Bankshares, Inc. will post 2.71 EPS for the current year.
United Bankshares Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, April 3rd. Shareholders of record on Friday, March 10th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, March 9th. This represents a $1.44 dividend on an annualized basis and a yield of 5.13%. United Bankshares’s dividend payout ratio is currently 48.98%.
United Bankshares Profile
United Bankshares, Inc is a bank holding company, which engages in the provision of commercial and retail banking services and products. It operates through the following segments: Community Banking, Mortgage Banking, and Other. The Community Banking segment consists of both commercial and consumer lending and provides customers with such products as commercial loans, real estate loans, business financing, and consumer loans.
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