United Bankshares, Inc. $UBSI Stock Holdings Lowered by UBS Group AG

UBS Group AG reduced its holdings in United Bankshares, Inc. (NASDAQ:UBSI) by 21.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 349,835 shares of the financial services provider’s stock after selling 95,208 shares during the quarter. UBS Group AG owned 0.25% of United Bankshares worth $13,434,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Dimensional Fund Advisors LP raised its holdings in shares of United Bankshares by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 7,741,908 shares of the financial services provider’s stock worth $288,076,000 after purchasing an additional 24,631 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of United Bankshares by 1.2% in the 3rd quarter. Victory Capital Management Inc. now owns 3,624,628 shares of the financial services provider’s stock worth $134,872,000 after purchasing an additional 42,255 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of United Bankshares by 11.4% during the third quarter. Bank of America Corp DE now owns 1,367,319 shares of the financial services provider’s stock valued at $50,878,000 after acquiring an additional 139,646 shares during the period. Fisher Asset Management LLC raised its holdings in shares of United Bankshares by 10.1% during the third quarter. Fisher Asset Management LLC now owns 1,275,425 shares of the financial services provider’s stock valued at $47,459,000 after acquiring an additional 116,647 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of United Bankshares by 11.8% during the second quarter. Invesco Ltd. now owns 1,096,626 shares of the financial services provider’s stock valued at $39,950,000 after acquiring an additional 116,073 shares during the period. 70.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

UBSI has been the topic of a number of recent analyst reports. Raymond James Financial restated an “outperform” rating and set a $49.00 price target on shares of United Bankshares in a report on Monday, April 27th. Stephens boosted their price target on shares of United Bankshares from $40.00 to $44.00 and gave the company an “equal weight” rating in a report on Friday, January 23rd. Zacks Research lowered shares of United Bankshares from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Weiss Ratings upgraded shares of United Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 13th. Finally, Piper Sandler restated an “overweight” rating and set a $47.00 price target on shares of United Bankshares in a report on Monday, January 26th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $45.75.

United Bankshares Stock Performance

Shares of UBSI opened at $42.31 on Friday. The company’s 50 day moving average price is $42.01 and its 200 day moving average price is $40.61. United Bankshares, Inc. has a 52 week low of $34.10 and a 52 week high of $45.92. The company has a market capitalization of $5.83 billion, a PE ratio of 11.85 and a beta of 0.72. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98.

United Bankshares (NASDAQ:UBSI) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.04. United Bankshares had a net margin of 27.45% and a return on equity of 9.26%. The firm had revenue of $316.58 million for the quarter, compared to the consensus estimate of $315.15 million. During the same period in the previous year, the firm posted $0.59 earnings per share. Research analysts expect that United Bankshares, Inc. will post 3.64 EPS for the current fiscal year.

United Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $1.52 dividend on an annualized basis and a yield of 3.6%. United Bankshares’s payout ratio is presently 42.58%.

United Bankshares Company Profile

United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company’s core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.

United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.