Ontario Teachers Pension Plan Board Has $766,000 Stake in United Bankshares, Inc. (NASDAQ:UBSI)

Ontario Teachers Pension Plan Board raised its position in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 58.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,403 shares of the financial services provider's stock after purchasing an additional 7,492 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in United Bankshares were worth $766,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. SBI Securities Co. Ltd. bought a new stake in United Bankshares during the 4th quarter valued at $26,000. Jones Financial Companies Lllp boosted its holdings in shares of United Bankshares by 55.8% in the fourth quarter. Jones Financial Companies Lllp now owns 866 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 310 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its position in United Bankshares by 1,921.1% in the fourth 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 during the period. Nomura Asset Management Co. Ltd. increased its position in shares of United Bankshares by 37.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,480 shares of the financial services provider's stock valued at $56,000 after purchasing an additional 400 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in shares of United Bankshares in the fourth quarter valued at $85,000. Institutional investors own 70.80% of the company's stock.

Insider Activity at United Bankshares

In other United Bankshares news, Director Sara Dumond purchased 2,600 shares of the company's stock in a transaction on Monday, March 24th. The shares were bought at an average cost of $35.01 per share, with a total value of $91,026.00. Following the transaction, the director now directly 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 legal filing with the SEC, which is accessible through the SEC website. 3.66% of the stock is currently owned by company insiders.

United Bankshares Stock Up 1.9 %

Shares of United Bankshares stock traded up $0.64 during midday trading on Tuesday, hitting $33.59. The company's stock had a trading volume of 110,611 shares, compared to its average volume of 605,069. The stock has a 50-day simple moving average of $34.57 and a 200-day simple moving average of $37.50. The firm has a market capitalization of $4.82 billion, a P/E ratio of 12.27 and a beta of 0.91. 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, Inc. has a 1-year low of $30.51 and a 1-year high of $44.43.

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. As a group, sell-side analysts expect that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.37 per share. The ex-dividend date was Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a yield of 4.41%. United Bankshares's payout ratio is 54.01%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods cut their price target on shares of United Bankshares from $46.00 to $45.00 and set a "market perform" rating for the company in a report on Monday, January 27th. Piper Sandler restated a "neutral" rating and set a $38.50 target price on shares of United Bankshares in a report on Wednesday, March 12th. StockNews.com downgraded United Bankshares from a "hold" rating to a "sell" rating in a research report on Monday, January 27th. Finally, Stephens reaffirmed an "equal weight" rating and set a $43.00 target price on shares of United Bankshares in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat, United Bankshares presently has an average rating of "Hold" and a consensus target price of $41.88.

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.