Municipal Employees Retirement System of Michigan bought a new position in United Bankshares, Inc. (NASDAQ:UBSI) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 24,950 shares of the financial services provider’s stock, valued at approximately $776,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Toronto Dominion Bank bought a new stake in shares of United Bankshares in the 4th quarter worth approximately $40,000. Rehmann Capital Advisory Group raised its holdings in shares of United Bankshares by 60.3% during the fourth quarter. Rehmann Capital Advisory Group now owns 1,334 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 502 shares during the period. FNY Investment Advisers LLC raised its holdings in shares of United Bankshares by 97.1% during the fourth quarter. FNY Investment Advisers LLC now owns 1,774 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 874 shares during the period. Captrust Financial Advisors increased its stake in United Bankshares by 985.1% in the 3rd quarter. Captrust Financial Advisors now owns 3,559 shares of the financial services provider’s stock valued at $131,000 after buying an additional 3,231 shares during the period. Finally, Bessemer Group Inc. increased its stake in United Bankshares by 381.0% in the 4th quarter. Bessemer Group Inc. now owns 4,021 shares of the financial services provider’s stock valued at $125,000 after buying an additional 3,185 shares during the period. Institutional investors and hedge funds own 71.85% of the company’s stock.
UBSI has been the topic of several research reports. Zacks Investment Research upgraded shares of United Bankshares from a “sell” rating to a “hold” rating in a research note on Saturday, January 5th. BidaskClub upgraded shares of United Bankshares from a “sell” rating to a “hold” rating in a research note on Saturday, February 9th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $39.50.
UBSI stock traded down $0.54 during trading hours on Friday, hitting $38.25. The company’s stock had a trading volume of 333,533 shares, compared to its average volume of 336,490. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of 15.61, a P/E/G ratio of 1.90 and a beta of 1.26. United Bankshares, Inc. has a 12 month low of $29.13 and a 12 month high of $39.95.
United Bankshares (NASDAQ:UBSI) last posted its earnings results on Tuesday, January 29th. The financial services provider reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.01. The company had revenue of $176.53 million during the quarter, compared to the consensus estimate of $180.53 million. United Bankshares had a net margin of 30.28% and a return on equity of 7.89%. During the same period in the previous year, the firm posted $0.53 earnings per share. On average, research analysts expect that United Bankshares, Inc. will post 2.52 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend was Thursday, March 7th. United Bankshares’s dividend payout ratio is currently 55.51%.
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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, and NOW accounts.
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