Vanguard Group Inc. Acquires 115,681 Shares of United Bankshares, Inc. (NASDAQ:UBSI)

Vanguard Group Inc. lifted its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,310,562 shares of the financial services provider’s stock after purchasing an additional 115,681 shares during the period. Vanguard Group Inc. owned 0.11% of United Bankshares worth $537,362,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Raymond James Financial Inc. bought a new stake in shares of United Bankshares in the 4th quarter valued at about $14,948,000. Assenagon Asset Management S.A. acquired a new position in shares of United Bankshares in the fourth quarter worth approximately $7,383,000. Point72 Asset Management L.P. bought a new stake in United Bankshares in the third quarter valued at approximately $6,186,000. Barclays PLC boosted its holdings in United Bankshares by 89.5% in the third quarter. Barclays PLC now owns 269,852 shares of the financial services provider’s stock valued at $10,012,000 after acquiring an additional 127,486 shares during the last quarter. Finally, Systematic Financial Management LP increased its position in United Bankshares by 40.1% during the 3rd quarter. Systematic Financial Management LP now owns 391,028 shares of the financial services provider’s stock valued at $14,507,000 after purchasing an additional 111,989 shares during the period. Institutional investors own 70.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on UBSI. Keefe, Bruyette & Woods dropped their target price on shares of United Bankshares from $46.00 to $45.00 and set a “market perform” rating on the stock in a report on Monday, January 27th. Piper Sandler reiterated a “neutral” rating and set a $38.50 target price on shares of United Bankshares in a research report on Wednesday, March 12th. StockNews.com cut shares of United Bankshares from a “hold” rating to a “sell” rating in a report on Monday, January 27th. Finally, Stephens reissued an “equal weight” rating and set a $43.00 price objective on shares of United Bankshares in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $41.88.

Insiders Place Their Bets

In other United Bankshares news, Director Sara Dumond purchased 2,600 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were acquired at an average cost of $35.01 per share, for a total transaction of $91,026.00. Following the completion of the acquisition, the director now owns 5,054 shares of the company’s stock, valued at $176,940.54. The trade was a 105.95 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 3.66% of the stock is currently owned by insiders.

United Bankshares Stock Performance

UBSI opened at $34.67 on Tuesday. The company has a market cap of $4.97 billion, a price-to-earnings ratio of 12.65 and a beta of 0.98. The company’s fifty day moving average price is $36.52 and its two-hundred day moving average price is $38.01. United Bankshares, Inc. has a 1-year low of $30.68 and a 1-year high of $44.43. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11.

United Bankshares (NASDAQ:UBSI) last announced its earnings results on Friday, January 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. During the same quarter in the previous year, the business earned $0.59 EPS. On average, analysts expect that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.27%. The ex-dividend date of this dividend is Friday, March 14th. United Bankshares’s dividend payout ratio (DPR) is presently 54.01%.

United Bankshares Company Profile

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.