United Bankshares, Inc. (NASDAQ:UBSI) Shares Bought by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC grew its stake in United Bankshares, Inc. (NASDAQ:UBSI) by 0.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 161,204 shares of the financial services provider’s stock after purchasing an additional 1,021 shares during the quarter. Axxcess Wealth Management LLC owned approximately 0.12% of United Bankshares worth $5,229,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Envestnet Portfolio Solutions Inc. bought a new position in United Bankshares during the fourth quarter worth $243,000. Principal Financial Group Inc. boosted its holdings in shares of United Bankshares by 1.2% in the 4th quarter. Principal Financial Group Inc. now owns 539,152 shares of the financial services provider’s stock valued at $20,245,000 after buying an additional 6,559 shares during the period. Vanguard Personalized Indexing Management LLC bought a new stake in shares of United Bankshares during the 4th quarter valued at about $516,000. Norges Bank acquired a new stake in United Bankshares during the fourth quarter worth about $45,308,000. Finally, UBS Group AG lifted its holdings in United Bankshares by 77.5% in the fourth quarter. UBS Group AG now owns 316,889 shares of the financial services provider’s stock worth $11,899,000 after acquiring an additional 138,317 shares during the last quarter. Institutional investors own 70.80% of the company’s stock.

Analysts Set New Price Targets

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

United Bankshares Stock Up 0.3 %

Shares of 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 1-year low of $25.35 and a 1-year high of $39.93. The business’s fifty day moving average price is $36.83 and its two-hundred day moving average price is $34.53. The company has a market capitalization of $5.07 billion, a P/E ratio of 14.32 and a beta of 0.99.

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

United Bankshares Announces Dividend

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

About United Bankshares

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.