JPMorgan Chase & Co. Boosts Stake in United Bankshares, Inc. (NASDAQ:UBSI)

JPMorgan Chase & Co. lifted its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 39.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 830,774 shares of the financial services provider's stock after acquiring an additional 235,955 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.61% of United Bankshares worth $31,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elo Mutual Pension Insurance Co acquired a new position in shares of United Bankshares in the 4th quarter worth approximately $394,000. EntryPoint Capital LLC acquired a new position in United Bankshares in the fourth quarter valued at $310,000. Advantage Alpha Capital Partners LP boosted its position in United Bankshares by 12.5% during the fourth quarter. Advantage Alpha Capital Partners LP now owns 15,406 shares of the financial services provider's stock valued at $578,000 after acquiring an additional 1,716 shares during the last quarter. Vanguard Group Inc. grew its holdings in United Bankshares by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 14,310,562 shares of the financial services provider's stock worth $537,362,000 after acquiring an additional 115,681 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in shares of United Bankshares in the 4th quarter worth about $1,060,000. 70.80% of the stock is owned by institutional investors and hedge funds.

Insider Activity at United Bankshares

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

United Bankshares Stock Up 0.3 %

Shares of NASDAQ UBSI traded up $0.09 during midday trading on Friday, hitting $31.84. 783,838 shares of the stock traded hands, compared to its average volume of 591,352. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. United Bankshares, Inc. has a one year low of $30.51 and a one year high of $44.43. The business has a 50 day moving average price of $35.24 and a two-hundred day moving average price of $37.63. The company has a market cap of $4.57 billion, a PE ratio of 11.62 and a beta of 0.91.

United Bankshares (NASDAQ:UBSI - Get Free Report) last announced its quarterly earnings results on Friday, January 24th. The financial services provider reported $0.69 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 last year, the firm posted $0.59 earnings per share. On average, equities analysts predict that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a $0.37 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.65%. United Bankshares's dividend payout ratio is presently 54.01%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on UBSI shares. Keefe, Bruyette & Woods cut their target price on United Bankshares from $46.00 to $45.00 and set a "market perform" rating on the stock in a research report on Monday, January 27th. Stephens reaffirmed an "equal weight" rating and set a $43.00 price objective on shares of United Bankshares in a research report on Monday, January 27th. Piper Sandler reiterated a "neutral" rating and set a $38.50 target price on shares of United Bankshares in a research report on Wednesday, March 12th. Finally, StockNews.com lowered shares of United Bankshares from a "hold" rating to a "sell" rating in a research note on Monday, January 27th. One 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 company has a consensus rating of "Hold" and an average target price of $41.88.

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.