Barclays PLC Boosts Stake in United Bankshares, Inc. (NASDAQ:UBSI)

Barclays PLC raised its position in United Bankshares, Inc. (NASDAQ:UBSI) by 26.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 339,899 shares of the financial services provider’s stock after purchasing an additional 70,047 shares during the quarter. Barclays PLC owned 0.25% of United Bankshares worth $12,762,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. lifted its position in United Bankshares by 9.8% during the third quarter. JPMorgan Chase & Co. now owns 594,819 shares of the financial services provider’s stock valued at $22,068,000 after buying an additional 52,949 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in United Bankshares during the 4th quarter worth $7,383,000. Truist Financial Corp increased its holdings in United Bankshares by 69.8% in the 4th quarter. Truist Financial Corp now owns 22,916 shares of the financial services provider’s stock valued at $860,000 after purchasing an additional 9,418 shares in the last quarter. Nisa Investment Advisors LLC raised its position in United Bankshares by 12.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,656 shares of the financial services provider’s stock valued at $214,000 after purchasing an additional 608 shares during the period. Finally, Alpha Omega Wealth Management LLC acquired a new position in shares of United Bankshares during the fourth quarter worth about $250,000. 70.80% of the stock is owned by institutional investors and hedge funds.

United Bankshares Stock Down 1.7 %

Shares of NASDAQ:UBSI opened at $32.95 on Tuesday. United Bankshares, Inc. has a 12-month low of $30.51 and a 12-month 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. The firm has a market cap of $4.73 billion, a PE ratio of 12.03 and a beta of 0.91. The company has a fifty day simple moving average of $34.57 and a 200 day simple moving average of $37.50.

United Bankshares (NASDAQ:UBSI) last issued its earnings results on Friday, January 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period last year, the firm posted $0.59 EPS. On average, equities research analysts anticipate that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a $0.37 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.48 annualized dividend and a dividend yield of 4.49%. United Bankshares’s payout ratio is 54.01%.

Insider Activity

In other United Bankshares news, Director Sara Dumond acquired 2,600 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was acquired at an average price of $35.01 per share, with a total value of $91,026.00. Following the transaction, the director now directly owns 5,054 shares in the company, valued at approximately $176,940.54. This represents a 105.95 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.66% of the company’s stock.

Analyst Upgrades and Downgrades

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

United Bankshares 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.