Mutual of America Capital Management LLC Has $2.55 Million Stock Position in United Bankshares, Inc. (NASDAQ:UBSI)

Mutual of America Capital Management LLC lifted its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 3.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 73,478 shares of the financial services provider’s stock after purchasing an additional 2,216 shares during the quarter. Mutual of America Capital Management LLC owned 0.05% of United Bankshares worth $2,547,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of UBSI. Norges Bank acquired a new position in shares of United Bankshares in the 4th quarter valued at $54,712,000. Raymond James Financial Inc. purchased a new stake in United Bankshares in the 4th quarter worth about $14,948,000. JPMorgan Chase & Co. lifted its stake in United Bankshares by 39.7% in the 4th quarter. JPMorgan Chase & Co. now owns 830,774 shares of the financial services provider’s stock worth $31,196,000 after acquiring an additional 235,955 shares in the last quarter. Northern Trust Corp lifted its stake in United Bankshares by 13.7% in the 4th quarter. Northern Trust Corp now owns 1,774,018 shares of the financial services provider’s stock worth $66,614,000 after acquiring an additional 213,441 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in United Bankshares by 52.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 381,062 shares of the financial services provider’s stock worth $14,309,000 after acquiring an additional 130,444 shares in the last quarter. Institutional investors and hedge funds own 70.80% of the company’s stock.

United Bankshares Stock Down 0.5%

UBSI opened at $37.30 on Friday. United Bankshares, Inc. has a fifty-two week low of $30.51 and a fifty-two week high of $44.43. The business has a 50-day moving average of $36.64 and a 200-day moving average of $36.03. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $5.30 billion, a PE ratio of 13.87 and a beta of 0.76.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.07). United Bankshares had a return on equity of 7.36% and a net margin of 22.35%. The firm had revenue of $289.61 million for the quarter, compared to analysts’ expectations of $279.02 million. During the same period last year, the business earned $0.64 earnings per share. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. Equities research analysts forecast that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend was Friday, June 13th. United Bankshares’s payout ratio is 55.02%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on UBSI. Wall Street Zen downgraded United Bankshares from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. Keefe, Bruyette & Woods reduced their price objective on United Bankshares from $42.00 to $40.00 and set a “market perform” rating for the company in a research note on Monday, April 28th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $40.63.

United Bankshares 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.