Courier Capital LLC Purchases Shares of 5,789 United Bankshares, Inc. (NASDAQ:UBSI)

Courier Capital LLC purchased a new stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 5,789 shares of the financial services provider’s stock, valued at approximately $217,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Verity Asset Management Inc. grew its position in United Bankshares by 18.2% during the third quarter. Verity Asset Management Inc. now owns 22,816 shares of the financial services provider’s stock valued at $629,000 after acquiring an additional 3,506 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in shares of United Bankshares by 312.2% in the third quarter. EP Wealth Advisors LLC now owns 83,500 shares of the financial services provider’s stock worth $2,304,000 after purchasing an additional 63,245 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of United Bankshares by 0.7% in the third quarter. Rhumbline Advisers now owns 469,237 shares of the financial services provider’s stock worth $12,946,000 after purchasing an additional 3,453 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of United Bankshares by 72.8% in the third quarter. Envestnet Asset Management Inc. now owns 183,498 shares of the financial services provider’s stock worth $5,063,000 after purchasing an additional 77,317 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of United Bankshares by 3,558.3% in the third quarter. AQR Capital Management LLC now owns 305,687 shares of the financial services provider’s stock worth $8,434,000 after purchasing an additional 297,331 shares during the last quarter. 70.80% of the stock is currently owned by institutional investors.

United Bankshares Trading Up 4.5 %

Shares of NASDAQ:UBSI opened at $35.37 on Thursday. The stock has a 50 day moving average of $35.03 and a 200 day moving average of $32.97. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.37. United Bankshares, Inc. has a 12-month low of $25.35 and a 12-month high of $38.74. The company has a market cap of $4.77 billion, a PE ratio of 13.05 and a beta of 1.00.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings results on Friday, January 26th. The financial services provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. United Bankshares had a return on equity of 8.05% and a net margin of 23.84%. The company had revenue of $402.85 million for the quarter, compared to analysts’ expectations of $258.98 million. During the same period in the previous year, the firm earned $0.74 EPS. As a group, equities research analysts expect that United Bankshares, Inc. will post 2.64 EPS for the current year.

United Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 8th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $1.48 dividend on an annualized basis and a yield of 4.18%. United Bankshares’s dividend payout ratio is presently 54.61%.

Analysts Set New Price Targets

Separately, Raymond James raised their target price on shares of United Bankshares from $38.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, United Bankshares has an average rating of “Hold” and a consensus price target of $36.00.

United Bankshares Company Profile

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, NOW accounts, and interest-bearing checking accounts.