Pinebridge Investments L.P. Raises Holdings in United Bankshares, Inc. (NASDAQ:UBSI)

Pinebridge Investments L.P. increased its position in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 42.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,341 shares of the financial services provider's stock after buying an additional 18,350 shares during the period. Pinebridge Investments L.P.'s holdings in United Bankshares were worth $2,303,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of United Bankshares during the 4th quarter worth approximately $54,712,000. Raymond James Financial Inc. bought a new position in United Bankshares during the fourth quarter valued at $14,948,000. JPMorgan Chase & Co. grew its stake in shares of United Bankshares by 39.7% in the 4th quarter. JPMorgan Chase & Co. now owns 830,774 shares of the financial services provider's stock worth $31,196,000 after buying an additional 235,955 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of United Bankshares in the 4th quarter worth about $7,383,000. Finally, Barclays PLC raised its position in shares of United Bankshares by 89.5% during the 3rd quarter. Barclays PLC now owns 269,852 shares of the financial services provider's stock valued at $10,012,000 after buying an additional 127,486 shares in the last quarter. 70.80% of the stock is owned by institutional investors.

United Bankshares Trading Down 1.1 %

Shares of NASDAQ UBSI opened at $34.09 on Friday. United Bankshares, Inc. has a fifty-two week low of $30.51 and a fifty-two week high of $44.43. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $4.89 billion, a price-to-earnings ratio of 12.44 and a beta of 0.91. The business's 50 day moving average price is $34.26 and its 200-day moving average price is $37.44.

United Bankshares (NASDAQ:UBSI - Get Free Report) last released its earnings results on Thursday, April 24th. The financial services provider reported $0.59 earnings per share for the quarter, missing analysts' consensus estimates of $0.66 by ($0.07). The business had revenue of $289.61 million during the quarter, compared to analysts' expectations of $279.02 million. United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. On average, sell-side analysts expect that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.37 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.48 annualized dividend and a yield of 4.34%. United Bankshares's dividend payout ratio (DPR) is 54.01%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, Director Sara Dumond bought 2,600 shares of the firm's stock in a transaction 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 directly owns 5,054 shares in the company, valued at approximately $176,940.54. This trade represents a 105.95 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.66% of the company's stock.

United Bankshares Company 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.

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