KLP Kapitalforvaltning AS acquired a new stake in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 28,003 shares of the financial services provider's stock, valued at approximately $1,060,000.
Other large investors have also bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in United Bankshares in the 4th quarter valued at about $26,000. Jones Financial Companies Lllp lifted its stake in United Bankshares by 55.8% during the fourth quarter. Jones Financial Companies Lllp now owns 866 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 310 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in United Bankshares by 1,921.1% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,435 shares of the financial services provider's stock worth $54,000 after buying an additional 1,364 shares in the last quarter. Principal Securities Inc. grew its position in United Bankshares by 10.1% in the fourth quarter. Principal Securities Inc. now owns 3,115 shares of the financial services provider's stock worth $117,000 after buying an additional 285 shares during the last quarter. Finally, Hopwood Financial Services Inc. bought a new position in shares of United Bankshares in the fourth quarter valued at $117,000. Institutional investors own 70.80% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on UBSI. Piper Sandler reaffirmed a "neutral" rating and set a $38.50 target price on shares of United Bankshares in a research report on Wednesday, March 12th. Stephens restated an "equal weight" rating and set a $43.00 price objective on shares of United Bankshares in a report on Monday, January 27th. StockNews.com cut shares of United Bankshares from a "hold" rating to a "sell" rating in a report on Monday, January 27th. Finally, Keefe, Bruyette & Woods cut their price target on shares of United Bankshares from $46.00 to $45.00 and set a "market perform" rating on the stock 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's stock. According to data from MarketBeat, United Bankshares currently has a consensus rating of "Hold" and an average target price of $41.88.
View Our Latest Stock Analysis on United Bankshares
United Bankshares Stock Down 5.0 %
United Bankshares stock traded down $1.73 during mid-day trading on Thursday, hitting $32.98. The company's stock had a trading volume of 436,669 shares, compared to its average volume of 565,984. United Bankshares, Inc. has a 52-week low of $30.68 and a 52-week high of $44.43. The company has a market cap of $4.72 billion, a PE ratio of 12.04 and a beta of 0.91. 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's 50 day moving average is $36.37 and its 200 day moving average is $37.97.
United Bankshares (NASDAQ:UBSI - Get Free Report) last posted its quarterly earnings results on Friday, January 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping 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 period last year, the business earned $0.59 earnings per share. On average, analysts anticipate that United Bankshares, Inc. will post 2.81 earnings per share for the current year.
United Bankshares Announces Dividend
The business 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. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date of this dividend was Friday, March 14th. United Bankshares's dividend payout ratio (DPR) is currently 54.01%.
Insider Activity
In other news, Director Sara Dumond acquired 2,600 shares of United Bankshares stock in a transaction that occurred on Monday, March 24th. The stock was purchased at an average price of $35.01 per share, with a total value of $91,026.00. Following the completion of the transaction, the director now owns 5,054 shares in the company, valued at approximately $176,940.54. This trade represents a 105.95 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.66% of the stock is currently owned by corporate insiders.
About United Bankshares
(
Free Report)
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.
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