Raymond James Financial Inc. Makes New Investment in United Bankshares, Inc. (NASDAQ:UBSI)

Raymond James Financial Inc. purchased a new stake in United Bankshares, Inc. (NASDAQ:UBSI - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 398,066 shares of the financial services provider's stock, valued at approximately $14,948,000. Raymond James Financial Inc. owned about 0.29% of United Bankshares at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in shares of United Bankshares in the 4th quarter valued at about $26,000. Jones Financial Companies Lllp lifted its stake in United Bankshares by 55.8% in the fourth 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 during the last quarter. Wilmington Savings Fund Society FSB lifted its stake 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 last quarter. Principal Securities Inc. lifted its stake 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 purchasing an additional 285 shares during the last quarter. Finally, Milestone Asset Management LLC bought a new stake in United Bankshares in the fourth quarter worth about $201,000. Institutional investors own 70.80% of the company's stock.

United Bankshares Stock Down 1.0 %

UBSI stock traded down $0.33 during trading on Friday, hitting $34.38. 3,629,333 shares of the company's stock traded hands, compared to its average volume of 527,797. The firm has a market capitalization of $4.92 billion, a P/E ratio of 12.55 and a beta of 0.98. The business has a fifty day simple moving average of $36.88 and a two-hundred day simple moving average of $38.09. 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 $30.68 and a 1 year high of $44.43.

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

United Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 4.30%. The ex-dividend date is Friday, March 14th. United Bankshares's dividend payout ratio is currently 54.01%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on UBSI shares. StockNews.com lowered shares of United Bankshares from a "hold" rating to a "sell" rating in a research report on Monday, January 27th. 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. Keefe, Bruyette & Woods reduced their target price 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. Finally, 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. One investment 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.com, United Bankshares has an average rating of "Hold" and a consensus price target of $41.88.

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.