Norges Bank Buys Shares of 1,457,056 United Bankshares, Inc. (NASDAQ:UBSI)

Norges Bank purchased a new stake in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,457,056 shares of the financial services provider's stock, valued at approximately $54,712,000. Norges Bank owned 1.08% of United Bankshares as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. SBI Securities Co. Ltd. bought a new stake in shares of United Bankshares during the fourth quarter worth about $26,000. Jones Financial Companies Lllp increased its holdings in United Bankshares by 55.8% during 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 in the last quarter. Wilmington Savings Fund Society FSB increased its holdings in United Bankshares by 1,921.1% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,435 shares of the financial services provider's stock worth $54,000 after purchasing an additional 1,364 shares in the last quarter. Principal Securities Inc. lifted its holdings in shares of United Bankshares by 10.1% in the fourth quarter. Principal Securities Inc. now owns 3,115 shares of the financial services provider's stock valued at $117,000 after purchasing an additional 285 shares in the last quarter. Finally, Hopwood Financial Services Inc. purchased a new position in shares of United Bankshares during the fourth quarter valued at approximately $117,000. 70.80% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

A number of analysts recently commented on UBSI shares. StockNews.com downgraded United Bankshares from a "hold" rating to a "sell" rating in a research report on Monday, January 27th. Stephens reiterated an "equal weight" rating and set a $43.00 target price on shares of United Bankshares in a research note on Monday, January 27th. Piper Sandler reissued a "neutral" rating and issued a $38.50 price target on shares of United Bankshares in a report on Wednesday, March 12th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of 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. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, United Bankshares currently has a consensus rating of "Hold" and an average target price of $41.88.

Insider Transactions at United Bankshares

In other news, Director Sara Dumond acquired 2,600 shares of the business's stock in a transaction that occurred 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 completion of the acquisition, the director now directly owns 5,054 shares of the company's stock, valued at approximately $176,940.54. The trade was a 105.95 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.66% of the company's stock.

United Bankshares Trading Down 0.3 %

Shares of NASDAQ:UBSI traded down $0.09 on Tuesday, hitting $31.50. The company had a trading volume of 1,302,622 shares, compared to its average volume of 583,931. United Bankshares, Inc. has a 1 year low of $30.51 and a 1 year high of $44.43. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. The firm's 50-day simple moving average is $35.69 and its two-hundred day simple moving average is $37.76. The firm has a market capitalization of $4.52 billion, a price-to-earnings ratio of 11.50 and a beta of 0.91.

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

United Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.70%. The ex-dividend date of this dividend was Friday, March 14th. United Bankshares's dividend payout ratio is currently 54.01%.

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.