Axxcess Wealth Management LLC Increases Stake in United Bankshares, Inc. (NASDAQ:UBSI)

Axxcess Wealth Management LLC raised its position in United Bankshares, Inc. (NASDAQ:UBSI) by 283.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 162,692 shares of the financial services provider’s stock after acquiring an additional 120,294 shares during the period. Axxcess Wealth Management LLC’s holdings in United Bankshares were worth $6,109,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Fifth Third Bancorp boosted its holdings in United Bankshares by 206.0% in the 4th quarter. Fifth Third Bancorp now owns 976 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 657 shares in the last quarter. Key Financial Inc boosted its stake in shares of United Bankshares by 735.6% in the third quarter. Key Financial Inc now owns 1,830 shares of the financial services provider’s stock valued at $50,000 after buying an additional 1,611 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in United Bankshares by 449.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 1,345 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 1,100 shares during the period. Anchor Investment Management LLC purchased a new position in United Bankshares in the fourth quarter worth $95,000. Finally, Covestor Ltd lifted its holdings in United Bankshares by 133.7% in the third quarter. Covestor Ltd now owns 3,659 shares of the financial services provider’s stock valued at $101,000 after acquiring an additional 2,093 shares during the period. 70.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on UBSI. Keefe, Bruyette & Woods cut their price target on shares of United Bankshares from $40.00 to $38.00 and set a “market perform” rating for the company in a report on Friday. Stephens dropped their target price on shares of United Bankshares from $36.00 to $34.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Finally, Raymond James boosted their price target on United Bankshares from $38.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, United Bankshares currently has an average rating of “Hold” and an average target price of $37.00.

United Bankshares Price Performance

Shares of UBSI traded up $0.14 during mid-day trading on Friday, reaching $33.96. 250,378 shares of the company’s stock were exchanged, compared to its average volume of 480,642. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.36. United Bankshares, Inc. has a 52-week low of $25.35 and a 52-week high of $38.74. The company has a market cap of $4.59 billion, a price-to-earnings ratio of 12.96 and a beta of 1.01. The company has a 50-day simple moving average of $34.08 and a two-hundred day simple moving average of $34.14.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.01). United Bankshares had a return on equity of 7.72% and a net margin of 22.51%. The company had revenue of $401.39 million for the quarter, compared to analysts’ expectations of $256.80 million. During the same period in the previous year, the business posted $0.74 EPS. On average, sell-side analysts predict that United Bankshares, Inc. will post 2.63 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were issued a $0.37 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.48 dividend on an annualized basis and a yield of 4.36%. United Bankshares’s dividend payout ratio (DPR) is 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.