United Bankshares, Inc. (NASDAQ:UBSI) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund grew its position in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 13.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 664,599 shares of the financial services provider’s stock after acquiring an additional 78,022 shares during the quarter. New York State Common Retirement Fund’s holdings in United Bankshares were worth $24,956,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of UBSI. Vaughan Nelson Investment Management L.P. lifted its holdings in United Bankshares by 103.9% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,142,091 shares of the financial services provider’s stock worth $42,885,000 after purchasing an additional 581,870 shares during the period. Qube Research & Technologies Ltd acquired a new stake in United Bankshares in the third quarter worth about $8,400,000. AQR Capital Management LLC lifted its holdings in United Bankshares by 3,558.3% in the third quarter. AQR Capital Management LLC now owns 305,687 shares of the financial services provider’s stock worth $8,434,000 after purchasing an additional 297,331 shares during the period. Assenagon Asset Management S.A. acquired a new stake in United Bankshares in the third quarter worth about $4,675,000. Finally, Earnest Partners LLC lifted its holdings in United Bankshares by 4.8% in the third quarter. Earnest Partners LLC now owns 3,375,991 shares of the financial services provider’s stock worth $93,144,000 after purchasing an additional 155,891 shares during the period. Institutional investors and hedge funds own 70.80% of the company’s stock.

United Bankshares Price Performance

Shares of NASDAQ UBSI opened at $33.35 on Friday. United Bankshares, Inc. has a twelve month low of $25.35 and a twelve month high of $38.74. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of 12.73 and a beta of 1.00. The firm has a 50-day moving average of $34.26 and a two-hundred day moving average of $33.89.

United Bankshares (NASDAQ:UBSI) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). United Bankshares had a net margin of 22.51% and a return on equity of 7.77%. The business had revenue of $401.39 million during the quarter, compared to analyst estimates of $256.80 million. During the same period in the previous year, the company posted $0.74 earnings per share. As a group, analysts expect that United Bankshares, Inc. will post 2.64 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.48 annualized dividend and a yield of 4.44%. United Bankshares’s payout ratio is presently 56.49%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Raymond James upped their price objective on shares of United Bankshares from $38.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. Stephens cut their price target 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $36.67.

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.