Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI – Free Report) by 58.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,471 shares of the financial services provider’s stock after purchasing an additional 33,812 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.07% of United Bankshares worth $3,435,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Staley Capital Advisers Inc. grew its stake in United Bankshares by 0.8% in the 4th quarter. Staley Capital Advisers Inc. now owns 46,050 shares of the financial services provider’s stock worth $1,865,000 after acquiring an additional 351 shares during the period. Bank of Montreal Can boosted its holdings in shares of United Bankshares by 1.0% in the 1st quarter. Bank of Montreal Can now owns 36,804 shares of the financial services provider’s stock valued at $1,303,000 after purchasing an additional 356 shares during the last quarter. Mariner LLC boosted its holdings in shares of United Bankshares by 3.9% in the 4th quarter. Mariner LLC now owns 10,407 shares of the financial services provider’s stock valued at $421,000 after purchasing an additional 395 shares during the last quarter. Systematic Financial Management LP boosted its holdings in shares of United Bankshares by 0.3% in the 1st quarter. Systematic Financial Management LP now owns 174,335 shares of the financial services provider’s stock valued at $6,137,000 after purchasing an additional 450 shares during the last quarter. Finally, Inspire Investing LLC boosted its holdings in shares of United Bankshares by 4.9% in the 3rd quarter. Inspire Investing LLC now owns 11,099 shares of the financial services provider’s stock valued at $306,000 after purchasing an additional 522 shares during the last quarter. 70.80% of the stock is owned by hedge funds and other institutional investors.
United Bankshares Stock Performance
NASDAQ:UBSI opened at $32.57 on Thursday. 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 firm has a market capitalization of $4.40 billion, a price-to-earnings ratio of 12.02 and a beta of 1.00. The firm’s fifty day simple moving average is $34.36 and its 200 day simple moving average is $33.66. United Bankshares, Inc. has a twelve month low of $25.35 and a twelve month high of $38.74.
United Bankshares Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were issued a $0.37 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.48 dividend on an annualized basis and a yield of 4.54%. United Bankshares’s dividend payout ratio is currently 54.61%.
Analysts Set New Price Targets
Separately, Raymond James lifted their target price on shares of United Bankshares from $38.00 to $41.00 and gave the company an “outperform” rating in a report on Friday, January 5th.
Check Out Our Latest Research Report 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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