Huntington National Bank Boosts Position in United Bankshares Inc. (UBSI)
Huntington National Bank raised its position in shares of United Bankshares Inc. (NASDAQ:UBSI) by 34.3% during the second quarter, Holdings Channel reports. The institutional investor owned 49,927 shares of the financial services provider’s stock after buying an additional 12,753 shares during the period. Huntington National Bank’s holdings in United Bankshares were worth $1,873,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Aperio Group LLC raised its stake in shares of United Bankshares by 61.1% in the first quarter. Aperio Group LLC now owns 11,827 shares of the financial services provider’s stock worth $434,000 after buying an additional 4,484 shares during the last quarter. State Street Corp raised its stake in shares of United Bankshares by 6.9% in the first quarter. State Street Corp now owns 5,652,819 shares of the financial services provider’s stock worth $207,459,000 after buying an additional 366,062 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of United Bankshares by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,681,097 shares of the financial services provider’s stock worth $61,696,000 after buying an additional 26,336 shares during the last quarter. Capstone Asset Management Co. raised its stake 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 worth $723,000 after buying an additional 630 shares during the last quarter. Finally, Virginia Retirement System purchased a new stake in shares of United Bankshares during the first quarter worth approximately $323,000. 51.99% of the stock is owned by institutional investors and hedge funds.
United Bankshares Inc. (NASDAQ:UBSI) traded up 0.51% during trading on Friday, hitting $37.20. The stock had a trading volume of 241,231 shares. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 19.38 and a beta of 1.02. The company has a 50-day moving average of $37.98 and a 200 day moving average of $37.96. United Bankshares Inc. has a 52 week low of $32.22 and a 52 week high of $43.13.
United Bankshares (NASDAQ:UBSI) last released its earnings results on Thursday, July 28th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing the 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 last year, the business earned $0.50 EPS. On average, equities research analysts anticipate that United Bankshares Inc. will post $1.97 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 9th were given a dividend of $0.33 per share. The ex-dividend date was Wednesday, September 7th. This represents a $1.32 annualized dividend and a dividend yield of 3.55%. United Bankshares’s dividend payout ratio is currently 68.75%.
A number of analysts recently commented on the company. Zacks Investment Research lowered United Bankshares from a “buy” rating to a “hold” rating in a research report on Thursday, June 30th. Keefe, Bruyette & Woods lifted their price objective on United Bankshares from $36.00 to $38.00 and gave the stock a “market perform” rating in a research report on Monday, August 22nd.
About United Bankshares
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).
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