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

Elo Mutual Pension Insurance Co acquired a new position in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,491 shares of the financial services provider's stock, valued at approximately $394,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in United Bankshares by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,310,562 shares of the financial services provider's stock worth $537,362,000 after purchasing an additional 115,681 shares in the last quarter. Geode Capital Management LLC boosted its stake in United Bankshares by 1.7% during the third quarter. Geode Capital Management LLC now owns 3,306,542 shares of the financial services provider's stock worth $122,695,000 after acquiring an additional 53,994 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in United Bankshares by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,710,588 shares of the financial services provider's stock worth $64,233,000 after purchasing an additional 37,532 shares during the period. Vaughan Nelson Investment Management L.P. increased its stake in United Bankshares by 3.5% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,612,170 shares of the financial services provider's stock valued at $60,538,000 after purchasing an additional 54,089 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of 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 purchasing an additional 52,949 shares during the period. 70.80% of the stock is owned by institutional investors and hedge funds.

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United Bankshares Stock Down 4.8 %

UBSI stock traded down $1.66 during mid-day trading on Thursday, reaching $33.05. 509,272 shares of the company traded hands, compared to its average volume of 746,137. The stock has a market cap of $4.73 billion, a price-to-earnings ratio of 12.06 and a beta of 0.91. United Bankshares, Inc. has a fifty-two week low of $30.68 and a fifty-two week high of $44.43. The firm's 50 day moving average price is $36.37 and its 200 day moving average price is $37.97. 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 (NASDAQ:UBSI - Get Free Report) last announced its earnings results 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 return on equity of 7.60% and a net margin of 22.94%. During the same quarter in the previous year, the business earned $0.59 EPS. As a group, equities research analysts predict 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 paid a $0.37 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.48 annualized dividend and a dividend yield of 4.48%. United Bankshares's payout ratio is 54.01%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on UBSI. Stephens restated an "equal weight" rating and issued a $43.00 target price on shares of United Bankshares in a research note on Monday, January 27th. StockNews.com cut United Bankshares from a "hold" rating to a "sell" rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods decreased their price objective on United Bankshares from $46.00 to $45.00 and set a "market perform" rating for the company in a report on Monday, January 27th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $38.50 target price on shares of United Bankshares in a 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's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $41.88.

Insider Activity

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