Tower Research Capital LLC TRC Acquires 327 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Tower Research Capital LLC TRC increased its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 2.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 12,432 shares of the financial services provider’s stock after purchasing an additional 327 shares during the quarter. Tower Research Capital LLC TRC’s holdings in United Bankshares were worth $467,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of UBSI. MetLife Investment Management LLC boosted its stake in shares of United Bankshares by 7.6% in the fourth quarter. MetLife Investment Management LLC now owns 153,241 shares of the financial services provider’s stock valued at $5,754,000 after buying an additional 10,761 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in United Bankshares by 2.3% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 107,327 shares of the financial services provider’s stock valued at $4,029,000 after buying an additional 2,460 shares during the period. Zacks Investment Management raised its position in shares of United Bankshares by 8.8% in the 4th quarter. Zacks Investment Management now owns 12,007 shares of the financial services provider’s stock valued at $451,000 after buying an additional 976 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of United Bankshares by 9.5% during the 4th quarter. NewEdge Advisors LLC now owns 38,990 shares of the financial services provider’s stock worth $1,464,000 after acquiring an additional 3,396 shares during the period. Finally, Gamco Investors INC. ET AL acquired a new stake in shares of United Bankshares during the 4th quarter worth approximately $282,000. Institutional investors and hedge funds own 70.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Keefe, Bruyette & Woods cut their target price on United Bankshares from $42.00 to $40.00 and set a “market perform” rating for the company in a research note on Monday. Piper Sandler restated a “neutral” rating and set a $38.50 price objective on shares of United Bankshares in a research report on Wednesday, March 12th. StockNews.com cut United Bankshares from a “hold” rating to a “sell” rating in a research report on Monday, January 27th. Finally, Stephens reissued an “equal weight” rating and issued a $43.00 target price on shares of United Bankshares in a report on Monday, January 27th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $40.63.

United Bankshares Trading Up 0.6 %

Shares of UBSI stock opened at $34.41 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $4.94 billion, a P/E ratio of 12.56 and a beta of 0.91. United Bankshares, Inc. has a twelve month low of $30.51 and a twelve month high of $44.43. The stock’s fifty day simple moving average is $34.14 and its 200 day simple moving average is $37.41.

United Bankshares (NASDAQ:UBSI) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.07). The firm had revenue of $289.61 million during the quarter, compared to analyst estimates of $279.02 million. United Bankshares had a net margin of 22.94% and a return on equity of 7.60%. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 EPS. As a group, sell-side analysts predict that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend was Friday, March 14th. United Bankshares’s payout ratio is currently 55.02%.

Insider Transactions at United Bankshares

In related news, Director Sara Dumond acquired 2,600 shares of the stock in a transaction dated Monday, March 24th. The stock was bought at an average cost of $35.01 per share, for a total transaction of $91,026.00. Following the completion of the transaction, the director now directly owns 5,054 shares of the company’s stock, valued at $176,940.54. The trade was a 105.95 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.66% of the stock is owned by company insiders.

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.