Anchor Capital Advisors LLC buys 2,930 shares of United Bankshares, Inc. (NASDAQ:UBSI)

Anchor Capital Advisors LLC grew its position in shares of United Bankshares, Inc. (NASDAQ:UBSI – Free Report) by 5.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,135 shares of the financial services provider’s stock after acquiring an additional 2,930 shares during the period. Anchor Capital Advisors LLC’s holdings in United Bankshares were worth $1,756,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of UBSI. Russell Investments Group Ltd. raised its position in United Bankshares by 4.8% during the fourth quarter. Russell Investments Group Ltd. now owns 44,825 shares of the financial services provider’s stock valued at $1,683,000 after purchasing an additional 2,059 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in United Bankshares in the fourth quarter valued at approximately $440,000. Lincoln National Corp boosted its stake in United Bankshares by 8.1% in the fourth quarter. Lincoln National Corp now owns 11,184 shares of the financial services provider’s stock worth $420,000 after acquiring an additional 837 shares during the period. Charles Schwab Investment Management Inc. raised its stake in United Bankshares by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,486,804 shares of the financial services provider’s stock worth $55,829,000 after acquiring an additional 60,465 shares during the period. Finally, Principal Securities Inc. acquired a new stake in United Bankshares in the fourth quarter valued at approximately $141,000. Institutional investors own 70.80% of the company’s shares.

The Wall Street analyst weighs in

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

Read the latest stock report on UBSI

United Bankshares fell 1.8%

Shares of UBSI stock opened at $36.72 on Monday. The stock’s fifty-day moving average price is $36.26, and its 200-day moving average price is $34.43. United Bankshares, Inc. has a 1 year low of $25.35 and a 1 year high of $39.93. The company has a market cap of $4.97 billion, a price-to-earnings ratio of 14.02 and a beta of 0.99. 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 (NASDAQ:UBSI – Get Free Report ) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.71 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $255.54 million. In the same quarter last year, the company earned $0.68 per share. The company’s quarterly revenue was down 2.6% year-over-year. On average, research analysts expect that United Bankshares, Inc. to post 2.7 earnings per share for the current fiscal year.

United Bankshares announces dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a dividend of $0.37 per share. This represents an annualized dividend of $1.48 and a yield of 4.03%. The ex-dividend date is Friday, September 13. United Bankshares’ dividend payout ratio is currently 56.49%.

United Bankshares Company Profile

(Free report)

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.

Featured stories

Want to see what other hedge funds UBSI owns? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for United Bankshares, Inc. (NASDAQ:UBSI – Free Report).

Get daily news and ratings for United Bankshares – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for United Bankshares and related companies with MarketBeat.com’s FREE daily email newsletter.