United Bankshares, Inc. (UBSI) to Issue Quarterly Dividend of $0.38 on July 1st

United Bankshares, Inc. (NASDAQ:UBSI) announced a quarterly dividend on Wednesday, May 13th. Shareholders of record on Friday, June 12th will be paid a dividend of 0.38 per share by the financial services provider on Wednesday, July 1st. This represents a c) annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Friday, June 12th.

United Bankshares has raised its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 26 years. United Bankshares has a dividend payout ratio of 47.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect United Bankshares to earn $3.84 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 39.6%.

United Bankshares Price Performance

Shares of NASDAQ UBSI opened at $42.31 on Friday. The stock’s 50-day moving average is $42.01 and its two-hundred day moving average is $40.61. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.98. United Bankshares has a 1-year low of $34.10 and a 1-year high of $45.92. The company has a market cap of $5.83 billion, a price-to-earnings ratio of 11.85 and a beta of 0.72.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.04. United Bankshares had a return on equity of 9.26% and a net margin of 27.45%.The company had revenue of $316.58 million for the quarter, compared to the consensus estimate of $315.15 million. During the same quarter in the prior year, the business earned $0.59 EPS. Analysts forecast that United Bankshares will post 3.64 EPS for the current fiscal year.

Institutional Trading of United Bankshares

A number of hedge funds have recently added to or reduced their stakes in UBSI. Norges Bank acquired a new stake in shares of United Bankshares in the 4th quarter valued at approximately $68,366,000. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of United Bankshares in the 1st quarter valued at approximately $34,476,000. AQR Capital Management LLC lifted its holdings in shares of United Bankshares by 74.7% in the 4th quarter. AQR Capital Management LLC now owns 1,625,205 shares of the financial services provider’s stock valued at $62,408,000 after buying an additional 694,953 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of United Bankshares by 75.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,177,051 shares of the financial services provider’s stock valued at $45,199,000 after buying an additional 504,986 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of United Bankshares by 64.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 782,292 shares of the financial services provider’s stock valued at $29,109,000 after buying an additional 307,159 shares during the period. 70.80% of the stock is owned by institutional investors and hedge funds.

About United Bankshares

United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company’s core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.

United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.