ProShare Advisors LLC Increases Stake in United Bankshares, Inc.
Date: September 14, 2023
United Bankshares, Inc. (NASDAQ:UBSI) saw an increase in its stake from investment management firm ProShare Advisors LLC during the first quarter, according to a recent 13F filing with the U.S. Securities and Exchange Commission (SEC). The firm’s stake rose by 3.8%, owning approximately 1,132,078 shares of the financial services provider after purchasing an additional 41,590 shares during the period. ProShare Advisors LLC now holds around 0.84% of United Bankshares valued at $39,849,000 as of the latest reporting period.
This increase in stake reflects the confidence that ProShare Advisors LLC has in United Bankshares’ future prospects. Such actions by institutional investors often signal a positive outlook for a company’s performance and financial health.
On July 27th, United Bankshares released its quarterly earnings report for the previous quarter. The financial services provider reported earnings per share (EPS) of $0.68 for the quarter, surpassing analysts’ consensus estimates of $0.66 by $0.02 per share. Revenues for the quarter were $381.11 million compared to analyst expectations of $259.14 million.
United Bankshares achieved a net margin of 28.52% and demonstrated a return on equity of 8.64%. It is important to note that these figures indicate the bank’s ability to generate profits and effectively manage investments on behalf of shareholders.
In comparison to the same period last year when earnings per share stood at $0.71, the bank experienced a slight decline this year but managed to exceed market predictions despite challenges posed by economic volatility.
Industry analysts predict that United Bankshares will continue its positive momentum with an estimated earnings per share of 2.68 for the current fiscal year. This projection underscores the bank’s resilience and ability to adapt to changing market conditions.
The research report released by United Bankshares further delves into the company’s financial performance, offering a comprehensive analysis of its operations, growth strategies, and competitive landscape. Interested individuals can access this report to gain a deeper understanding of the bank’s outlook going forward.
In conclusion, ProShare Advisors LLC’s decision to increase its stake in United Bankshares reflects confidence in the bank’s performance. The recent earnings report showcases the company’s ability to surpass market expectations despite challenging economic conditions. With additional insights available through their latest research report, investors can make informed decisions about including United Bankshares in their portfolios.
Note: This article is based on publicly available information as of September 14, 2023. Investors are advised to conduct further research or consult with financial professionals before making investment decisions.
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The Intrigue Surrounding United Bankshares: Hedge Fund Activity and Uncertain Prospects
United Bankshares, Inc. (NASDAQ:UBSI) has recently attracted attention from a number of hedge funds and institutional investors that have made changes to their positions in the company. Point72 Asset Management L.P. and Aspire Private Capital LLC are among those who have purchased new positions in the bank in recent months. This flurry of activity raises questions about the current state and future potential of United Bankshares.
During the fourth quarter of last year, Point72 Asset Management L.P. acquired a new position in United Bankshares, spending approximately $43,000 on shares. Similarly, Aspire Private Capital LLC purchased a substantial stake in the company during the first quarter of this year, investing approximately $39,811,200,000. These moves by prominent hedge funds indicate a level of confidence and interest in United Bankshares.
Steward Partners Investment Advisory LLC also decided to boost its position in United Bankshares by an impressive 427.8% during the first quarter. Brown Brothers Harriman & Co., on the other hand, increased its position by 27.6% during the same period. Finally, Covestor Ltd saw fit to lift its position by 74.7% during the first quarter as well. The collective decision of these institutional investors to acquire or increase their stakes in United Bankshares further adds to the perplexity surrounding this financial services provider.
It is worth noting that hedge funds and other institutional investors presently own 71.63% of United Bankshares’ stock – a significant portion that contributes to market speculation about the bank’s prospects.
Shares of NASDAQ:UBSI opened at $27.71 on Thursday – an intriguing starting point that sets off additional curiosity regarding this company’s trajectory going forward. Analysis is further complicated by factors such as United Bankshares’ fifty-day moving average price being recorded at $30.81 and its 200-day moving average price at $32.25. These figures provide context to the company’s stock performance over time, but leave doubt as to the influences behind its recent price movements.
United Bankshares’ 12-month low of $27.54 and high of $44.15 are also key elements to consider when evaluating its potential. The bank currently has a debt-to-equity ratio of 0.47, indicating a relatively stable financial position in comparison to some of its peers. Furthermore, its current ratio and quick ratio both stand at 0.98, suggesting modest liquidity levels.
With a market capitalization of $3.74 billion and a price-to-earnings (P/E) ratio of 9.52, United Bankshares might be overlooked by investors seeking higher growth potentials or more attractive valuations within the financial sector.
United Bankshares recently disclosed that it will pay a quarterly dividend on October 2nd, making it an attractive option for income-seeking investors. Shareholders as of September 8th will receive a $0.36 dividend per share – representing an annualized dividend payout ratio of 49.48% and an appealing yield of 5.20%.
The recent coverage of United Bankshares by StockNews.com has not been entirely positive as they initiated coverage with a “sell” rating for the company. Meanwhile, Piper Sandler gave the stock a “neutral” rating but increased their price objective from $33 to $35 per share.
Taking into account all these factors, it becomes apparent that United Bankshares is an enigmatic player in the financial services industry at this point in time. Its recent activity with hedge funds and institutional investors raises curiosity about its potential future moves and overall performance in the market.
As always, investors should exercise due diligence and carefully evaluate all available information before making any investment decisions regarding United Bankshares or any other company for that matter.
