PineBridge Investments L.P. boosted its stake in shares of United Bankshares Inc. (NASDAQ:UBSI) by 3.9% during the second quarter, Holdings Channel reports. The firm owned 8,222 shares of the financial services provider’s stock after buying an additional 309 shares during the period. PineBridge Investments L.P.’s holdings in United Bankshares were worth $309,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of UBSI. McKinley Carter Wealth Services Inc. boosted its stake in shares of United Bankshares by 1.7% in the second quarter. McKinley Carter Wealth Services Inc. now owns 17,675 shares of the financial services provider’s stock valued at $663,000 after buying an additional 297 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in shares of United Bankshares by 6.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 6,043 shares of the financial services provider’s stock valued at $227,000 after buying an additional 379 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in shares of United Bankshares by 1.4% in the second quarter. UBS Asset Management Americas Inc. now owns 42,808 shares of the financial services provider’s stock valued at $1,606,000 after buying an additional 588 shares in the last quarter. Capstone Asset Management Co. raised its position in shares of United Bankshares by 3.4% in the second quarter. Capstone Asset Management Co. now owns 19,272 shares of the financial services provider’s stock valued at $723,000 after buying an additional 630 shares in the last quarter. Finally, First American Bank raised its position in shares of United Bankshares by 0.9% in the second quarter. First American Bank now owns 68,413 shares of the financial services provider’s stock valued at $2,566,000 after buying an additional 638 shares in the last quarter. 51.99% of the stock is currently owned by hedge funds and other institutional investors.

United Bankshares Inc. (NASDAQ:UBSI) opened at 37.76 on Thursday. The firm has a 50-day moving average of $38.48 and a 200 day moving average of $37.86. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 19.67 and a beta of 1.05. United Bankshares Inc. has a 52 week low of $32.22 and a 52 week high of $43.13.

United Bankshares (NASDAQ:UBSI) last issued its earnings results on Thursday, July 28th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.06. United Bankshares had a return on equity of 7.53% and a net margin of 26.71%. During the same period in the previous year, the firm posted $0.50 EPS. On average, analysts anticipate that United Bankshares Inc. will post $1.97 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 9th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend is Wednesday, September 7th. United Bankshares’s payout ratio is currently 68.75%.

Several brokerages have commented on UBSI. Zacks Investment Research upgraded shares of United Bankshares from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research note on Thursday, June 2nd. Keefe, Bruyette & Woods increased their price target on shares of United Bankshares from $36.00 to $38.00 and gave the company a “market perform” rating in a research note on Monday, August 22nd.

United Bankshares Company Profile

United Bankshares, Inc (United) is a bank holding company. The Company has approximately two banking subsidiaries (the Banking Subsidiaries) doing business under the name of United Bank, one operating under the laws of West Virginia referred to as United Bank (WV) and the other operating under the laws of Virginia referred to as United Bank (VA).

5 Day Chart for NASDAQ:UBSI

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