Bank of Montreal Can Grows Position in United Bankshares, Inc. (NASDAQ:UBSI)

Bank of Montreal Can grew its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 5.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 42,371 shares of the financial services provider’s stock after purchasing an additional 2,255 shares during the period. Bank of Montreal Can’s holdings in United Bankshares were worth $1,591,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. SBI Securities Co. Ltd. purchased a new stake in United Bankshares during the fourth quarter worth about $26,000. Jones Financial Companies Lllp boosted its stake in shares of United Bankshares by 55.8% during the 4th quarter. Jones Financial Companies Lllp now owns 866 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 310 shares in the last quarter. Wilmington Savings Fund Society FSB grew its holdings in shares of United Bankshares by 1,921.1% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,435 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 1,364 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in United Bankshares by 37.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,480 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 400 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in United Bankshares during the fourth quarter worth $85,000. 70.80% of the stock is owned by institutional investors and hedge funds.

United Bankshares Price Performance

NASDAQ:UBSI opened at $33.51 on Friday. United Bankshares, Inc. has a 12-month low of $30.51 and a 12-month high of $44.43. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of 12.23 and a beta of 0.91. The company’s 50-day moving average is $34.78 and its two-hundred day moving average is $37.52. 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 quarterly earnings data 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 net margin of 22.94% and a return on equity of 7.60%. During the same quarter in the prior year, the business earned $0.59 EPS. Research analysts expect that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.48 annualized dividend and a yield of 4.42%. United Bankshares’s dividend payout ratio (DPR) is presently 54.01%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Piper Sandler reissued a “neutral” rating and issued a $38.50 target price on shares of United Bankshares in a report on Wednesday, March 12th. StockNews.com cut shares of United Bankshares from a “hold” rating to a “sell” rating in a research note on Monday, January 27th. Stephens restated an “equal weight” rating and set a $43.00 target price on shares of United Bankshares in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of United Bankshares from $46.00 to $45.00 and set a “market perform” rating on the stock in a research 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. Based on data from MarketBeat, United Bankshares has an average rating of “Hold” and a consensus price target of $41.88.

Insider Buying and Selling at United Bankshares

In related news, Director Sara Dumond bought 2,600 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were acquired at an average cost of $35.01 per share, with a total value of $91,026.00. Following the completion of the transaction, the director now owns 5,054 shares of the company’s stock, valued at approximately $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 SEC, which is available at the SEC website. 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.