United Bankshares, Inc. (NASDAQ:UBSI) Position Boosted by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC increased its position in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 0.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 161,204 shares of the financial services provider’s stock after buying an additional 1,021 shares during the quarter. Axxcess Wealth Management LLC’s holdings in United Bankshares were worth $5,229,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in shares of United Bankshares by 1.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,907,665 shares of the financial services provider’s stock valued at $256,521,000 after buying an additional 142,545 shares in the last quarter. Envestnet Asset Management Inc. grew its position in United Bankshares by 3.3% in the second quarter. Envestnet Asset Management Inc. now owns 256,203 shares of the financial services provider’s stock worth $8,311,000 after acquiring an additional 8,174 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in United Bankshares by 27.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 106,217 shares of the financial services provider’s stock worth $3,446,000 after acquiring an additional 22,565 shares in the last quarter. American Century Companies Inc. increased its stake in shares of United Bankshares by 3.6% during the 2nd quarter. American Century Companies Inc. now owns 73,340 shares of the financial services provider’s stock worth $2,379,000 after purchasing an additional 2,577 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in shares of United Bankshares by 27.5% during the 2nd quarter. Daiwa Securities Group Inc. now owns 11,901 shares of the financial services provider’s stock valued at $386,000 after purchasing an additional 2,565 shares in the last quarter. 70.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on UBSI. Stephens upped their price objective on shares of United Bankshares from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. StockNews.com upgraded United Bankshares from a “sell” rating to a “hold” rating in a research note on Wednesday. DA Davidson raised their price objective on United Bankshares from $36.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Finally, Keefe, Bruyette & Woods boosted their target price on United Bankshares from $38.00 to $40.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, United Bankshares presently has a consensus rating of “Hold” and a consensus target price of $40.25.

United Bankshares Stock Up 0.3 %

United Bankshares stock opened at $37.53 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.00 and a quick ratio of 0.99. United Bankshares, Inc. has a fifty-two week low of $25.35 and a fifty-two week high of $39.93. The firm has a fifty day moving average price of $36.83 and a two-hundred day moving average price of $34.53. The firm has a market cap of $5.07 billion, a price-to-earnings ratio of 14.32 and a beta of 0.99.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.07. United Bankshares had a return on equity of 7.72% and a net margin of 22.44%. The business had revenue of $255.94 million for the quarter, compared to analyst estimates of $255.54 million. During the same period in the previous year, the company posted $0.68 earnings per share. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. As a group, analysts forecast that United Bankshares, Inc. will post 2.7 earnings per share for the current year.

United Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.94%. United Bankshares’s dividend payout ratio (DPR) is presently 56.49%.

United Bankshares Company Profile

United Bankshares, Inc, through its subsidiaries, 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.