Charles Schwab Investment Management Inc. Has $64.23 Million Stock Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

Charles Schwab Investment Management Inc. raised its position in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,710,588 shares of the financial services provider's stock after purchasing an additional 37,532 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.27% of United Bankshares worth $64,233,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in shares of United Bankshares during the 4th quarter valued at $26,000. Jones Financial Companies Lllp grew its holdings 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 valued at $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% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,435 shares of the financial services provider's stock valued at $54,000 after acquiring an additional 1,364 shares in the last quarter. Principal Securities Inc. grew its holdings in shares of United Bankshares by 10.1% during the 4th quarter. Principal Securities Inc. now owns 3,115 shares of the financial services provider's stock valued at $117,000 after acquiring an additional 285 shares in the last quarter. Finally, Milestone Asset Management LLC bought a new stake in United Bankshares in the fourth quarter worth $201,000. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

A number of brokerages recently issued reports on UBSI. Piper Sandler reiterated a "neutral" rating and issued a $38.50 price objective on shares of United Bankshares in a report on Wednesday. Keefe, Bruyette & Woods decreased their price objective on shares of United Bankshares from $46.00 to $45.00 and set a "market perform" rating for the company in a report on Monday, January 27th. Stephens reiterated an "equal weight" rating and issued a $43.00 price objective on shares of United Bankshares in a report on Monday, January 27th. Finally, StockNews.com cut shares of United Bankshares from a "hold" rating to a "sell" rating in a report on Monday, January 27th. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, United Bankshares currently has an average rating of "Hold" and an average target price of $41.88.

United Bankshares Stock Performance

UBSI stock traded up $0.53 during mid-day trading on Friday, reaching $34.56. 590,916 shares of the stock traded hands, compared to its average volume of 513,148. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. United Bankshares, Inc. has a 52 week low of $30.68 and a 52 week high of $44.43. The business has a 50-day moving average of $37.08 and a two-hundred day moving average of $38.22. The firm has a market capitalization of $4.95 billion, a PE ratio of 12.61 and a beta of 0.98.

United Bankshares (NASDAQ:UBSI - Get Free Report) last released its quarterly 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 quarter in the previous year, the business earned $0.59 earnings per share. As a group, equities analysts predict that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date is Friday, March 14th. United Bankshares's dividend payout ratio is currently 54.01%.

Insider Activity

In other news, Director Mark R. Nesselroad sold 6,000 shares of the company's stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $39.16, for a total transaction of $234,960.00. Following the completion of the transaction, the director now owns 35,424 shares of the company's stock, valued at approximately $1,387,203.84. This represents a 14.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.66% of the stock is owned by company insiders.

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.