BlackRock Inc. lifted its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 3.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 14,062,668 shares of the financial services provider’s stock after purchasing an additional 448,147 shares during the quarter. BlackRock Inc. owned 0.13% of United Bankshares worth $511,882,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of UBSI. Wells Fargo & Company MN increased its holdings in shares of United Bankshares by 154.0% during the 1st quarter. Wells Fargo & Company MN now owns 973,837 shares of the financial services provider’s stock worth $34,328,000 after acquiring an additional 590,406 shares during the last quarter. Stephens Inc. AR increased its holdings in shares of United Bankshares by 15.0% during the 1st quarter. Stephens Inc. AR now owns 26,382 shares of the financial services provider’s stock worth $930,000 after acquiring an additional 3,432 shares during the last quarter. Swiss National Bank increased its holdings in shares of United Bankshares by 2.2% during the 1st quarter. Swiss National Bank now owns 173,682 shares of the financial services provider’s stock worth $6,122,000 after acquiring an additional 3,800 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of United Bankshares by 6.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 642,619 shares of the financial services provider’s stock worth $22,653,000 after acquiring an additional 41,536 shares during the last quarter. Finally, Aperio Group LLC increased its holdings in shares of United Bankshares by 11.3% during the 1st quarter. Aperio Group LLC now owns 57,182 shares of the financial services provider’s stock worth $2,016,000 after acquiring an additional 5,805 shares during the last quarter. Institutional investors and hedge funds own 72.43% of the company’s stock.

A number of research firms recently weighed in on UBSI. BidaskClub raised United Bankshares from a “hold” rating to a “buy” rating in a report on Saturday. ValuEngine raised United Bankshares from a “sell” rating to a “hold” rating in a report on Monday, July 30th. TheStreet raised United Bankshares from a “c+” rating to a “b-” rating in a report on Wednesday, June 6th. Finally, Zacks Investment Research raised United Bankshares from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a report on Tuesday, July 31st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. United Bankshares presently has an average rating of “Hold” and an average target price of $39.33.

In related news, Director Peter A. Converse sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $39.00, for a total value of $195,000.00. Following the completion of the sale, the director now directly owns 474,310 shares in the company, valued at approximately $18,498,090. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter A. Converse sold 2,500 shares of the business’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $39.50, for a total value of $98,750.00. Following the completion of the sale, the director now owns 471,810 shares of the company’s stock, valued at $18,636,495. The disclosure for this sale can be found here. Insiders own 5.15% of the company’s stock.

UBSI opened at $39.35 on Friday. The firm has a market capitalization of $4.09 billion, a P/E ratio of 20.71, a PEG ratio of 1.97 and a beta of 1.08. United Bankshares, Inc. has a 1 year low of $31.95 and a 1 year high of $39.95. The company has a quick ratio of 1.03, a current ratio of 1.05 and a debt-to-equity ratio of 0.55.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Thursday, July 26th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.02. The business had revenue of $185.13 million during the quarter, compared to the consensus estimate of $184.65 million. United Bankshares had a return on equity of 7.40% and a net margin of 24.38%. During the same period in the previous year, the company posted $0.37 EPS. research analysts expect that United Bankshares, Inc. will post 2.49 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 14th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $1.36 annualized dividend and a yield of 3.46%. United Bankshares’s dividend payout ratio (DPR) is presently 71.58%.

About United Bankshares

United Bankshares, Inc, a financial holding company, 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.

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Institutional Ownership by Quarter for United Bankshares (NASDAQ:UBSI)

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