Cibc World Markets Corp Purchases New Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

Cibc World Markets Corp bought a new stake in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 12,374 shares of the financial services provider's stock, valued at approximately $465,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Natixis Advisors LLC raised its stake in United Bankshares by 3.4% during the fourth quarter. Natixis Advisors LLC now owns 347,564 shares of the financial services provider's stock worth $13,051,000 after acquiring an additional 11,535 shares in the last quarter. Swiss National Bank increased its position in shares of United Bankshares by 0.8% during the 4th quarter. Swiss National Bank now owns 265,963 shares of the financial services provider's stock worth $9,987,000 after purchasing an additional 2,000 shares in the last quarter. Hopwood Financial Services Inc. bought a new position in United Bankshares during the 4th quarter valued at about $117,000. HighTower Advisors LLC lifted its holdings in United Bankshares by 16.1% during the 4th quarter. HighTower Advisors LLC now owns 22,683 shares of the financial services provider's stock valued at $852,000 after purchasing an additional 3,141 shares during the last quarter. Finally, Moors & Cabot Inc. grew its stake in United Bankshares by 4.3% during the fourth quarter. Moors & Cabot Inc. now owns 22,749 shares of the financial services provider's stock worth $854,000 after buying an additional 939 shares during the last quarter. Institutional investors own 70.80% of the company's stock.

Wall Street Analyst Weigh In

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

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Insiders Place Their Bets

In other news, Director Sara Dumond purchased 2,600 shares of United Bankshares stock in a transaction dated Monday, March 24th. The shares were bought 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 directly owns 5,054 shares in the company, valued at $176,940.54. This trade represents a 105.95 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.66% of the company's stock.

United Bankshares Trading Down 0.5 %

Shares of UBSI traded down $0.18 during trading hours on Thursday, hitting $34.86. 527,944 shares of the stock traded hands, compared to its average volume of 533,023. The business has a fifty day moving average of $36.75 and a 200-day moving average of $38.04. The firm has a market capitalization of $4.99 billion, a PE ratio of 12.72 and a beta of 0.98. 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 - Get Free Report) last announced its quarterly earnings data on Friday, January 24th. The financial services provider reported $0.69 earnings per share 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 period last year, the company earned $0.59 EPS. Analysts expect that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 4.25%. The ex-dividend date is Friday, March 14th. United Bankshares's payout ratio is 54.01%.

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.