Elo Mutual Pension Insurance Co Takes $394,000 Position in United Bankshares, Inc. (NASDAQ:UBSI)

Elo Mutual Pension Insurance Co bought a new stake in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,491 shares of the financial services provider's stock, valued at approximately $394,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Integrated Investment Consultants LLC raised its stake in shares of United Bankshares by 2.2% in the 4th quarter. Integrated Investment Consultants LLC now owns 12,537 shares of the financial services provider's stock worth $471,000 after buying an additional 270 shares in the last quarter. Principal Securities Inc. lifted its holdings in United Bankshares by 10.1% in 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 during the last quarter. Arizona State Retirement System boosted its position in shares of United Bankshares by 0.8% during the 4th quarter. Arizona State Retirement System now owns 39,225 shares of the financial services provider's stock valued at $1,473,000 after purchasing an additional 296 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of United Bankshares by 55.8% in the 4th quarter. Jones Financial Companies Lllp now owns 866 shares of the financial services provider's stock worth $33,000 after purchasing an additional 310 shares during the last quarter. Finally, HighTower Advisors LLC raised its holdings in shares of United Bankshares by 1.7% in the 3rd quarter. HighTower Advisors LLC now owns 19,542 shares of the financial services provider's stock worth $730,000 after purchasing an additional 332 shares in the last quarter. Institutional investors own 70.80% of the company's stock.

United Bankshares Trading Down 2.1 %

United Bankshares stock traded down $0.69 during midday trading on Friday, reaching $31.65. The stock had a trading volume of 1,570,022 shares, compared to its average volume of 574,884. United Bankshares, Inc. has a twelve month low of $30.51 and a twelve month high of $44.43. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market cap of $4.53 billion, a price-to-earnings ratio of 11.55 and a beta of 0.91. The firm's fifty day simple moving average is $36.11 and its two-hundred day simple moving average is $37.89.

United Bankshares (NASDAQ:UBSI - Get Free Report) last issued its earnings results on Friday, January 24th. The financial services provider reported $0.69 EPS for the quarter, topping 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 period in the previous year, the firm earned $0.59 earnings per share. Equities analysts anticipate that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid 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 4.68%. United Bankshares's dividend payout ratio (DPR) is presently 54.01%.

Insider Activity

In related news, Director Sara Dumond bought 2,600 shares of the firm's stock in a transaction on Monday, March 24th. The stock was bought at an average price of $35.01 per share, with a total value of $91,026.00. Following the purchase, the director now directly owns 5,054 shares of the company's stock, valued at approximately $176,940.54. This represents a 105.95 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.66% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on UBSI. Stephens restated an "equal weight" rating and set a $43.00 target price on shares of United Bankshares in a report on Monday, January 27th. Piper Sandler reissued a "neutral" rating and set a $38.50 price objective on shares of United Bankshares in a research note on Wednesday, March 12th. Keefe, Bruyette & Woods decreased 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. Finally, StockNews.com downgraded United Bankshares from a "hold" rating to a "sell" rating in a report on Monday, January 27th. 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, the stock has a consensus rating of "Hold" and an average price target 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.