Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in United Bankshares, Inc. (NASDAQ:UBSI – Free Report) by 9.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,428 shares of the financial services provider’s stock after purchasing an additional 2,330 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in United Bankshares were worth $1,030,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp grew its position in United Bankshares by 206.0% in the fourth 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 grew its position in shares of United Bankshares by 735.6% in the 3rd quarter. Key Financial Inc now owns 1,830 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 1,611 shares during the period. Anchor Investment Management LLC bought a new position in shares of United Bankshares in the 4th quarter valued at about $95,000. Covestor Ltd grew its position in shares of United Bankshares by 133.7% in the 3rd 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. Finally, Courier Capital LLC bought a new position in shares of United Bankshares in the 4th quarter valued at about $217,000. Institutional investors own 70.80% of the company’s stock.
United Bankshares Stock Performance
NASDAQ UBSI opened at $33.35 on Friday. The firm has a 50-day moving average of $34.22 and a 200-day moving average of $33.93. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market cap of $4.50 billion, a PE ratio of 12.73 and a beta of 1.00. United Bankshares, Inc. has a 52-week low of $25.35 and a 52-week high of $38.74.
United Bankshares Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date was Thursday, March 7th. United Bankshares’s dividend payout ratio is presently 56.49%.
Analyst Ratings Changes
A number of brokerages have recently commented on UBSI. Raymond James lifted their price objective on shares of United Bankshares from $38.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, January 5th. Stephens decreased their price objective on shares of United Bankshares from $36.00 to $34.00 and set an “equal weight” rating for the company in a research report on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $36.67.
Read Our Latest Stock Analysis on UBSI
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.
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