KLP Kapitalforvaltning AS Buys Shares of 28,003 United Bankshares, Inc. (NASDAQ:UBSI)

KLP Kapitalforvaltning AS acquired a new stake in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 28,003 shares of the financial services provider's stock, valued at approximately $1,060,000.

Other hedge funds have also recently modified their holdings of the company. Jane Street Group LLC boosted its stake in United Bankshares by 27.2% during the third quarter. Jane Street Group LLC now owns 161,489 shares of the financial services provider's stock valued at $5,991,000 after buying an additional 34,526 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of United Bankshares by 73.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 50,953 shares of the financial services provider's stock worth $1,890,000 after acquiring an additional 21,520 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of United Bankshares by 3.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 12,328 shares of the financial services provider's stock valued at $457,000 after acquiring an additional 427 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of United Bankshares by 9.8% in 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 in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in United Bankshares in the fourth quarter worth $7,383,000. Hedge funds and other institutional investors own 70.80% of the company's stock.

United Bankshares Trading Down 2.1 %

Shares of United Bankshares stock traded down $0.69 during trading on Friday, hitting $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 12 month low of $30.51 and a 12 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's fifty day simple moving average is $36.11 and its 200-day simple moving average is $37.89. The stock has a market cap of $4.53 billion, a PE ratio of 11.55 and a beta of 0.91.

United Bankshares (NASDAQ:UBSI - Get Free Report) last released its earnings results on Friday, January 24th. The financial services provider reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates 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 last year, the business earned $0.59 EPS. As a group, sell-side analysts expect that United Bankshares, Inc. will post 2.81 EPS for the current fiscal 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 $0.37 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a yield of 4.68%. United Bankshares's dividend payout ratio is currently 54.01%.

Analyst Ratings Changes

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

Insider Transactions at United Bankshares

In other news, Director Sara Dumond purchased 2,600 shares of the stock in a transaction that occurred 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 completion of the acquisition, the director now owns 5,054 shares of the company's stock, 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 legal filing with the SEC, which is available at the SEC website. Corporate insiders own 3.66% of the company's stock.

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.