Raymond James Financial Inc. Invests $14.95 Million in United Bankshares, Inc. (NASDAQ:UBSI)

Raymond James Financial Inc. purchased a new stake in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. JPMorgan Chase & Co. grew its position in United Bankshares by 9.8% during the third quarter. JPMorgan Chase & Co. now owns 594,819 shares of the financial services provider's stock valued at $22,068,000 after buying an additional 52,949 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of United Bankshares during the 4th quarter valued at $7,383,000. Truist Financial Corp increased its stake in shares of United Bankshares by 69.8% in the 4th quarter. Truist Financial Corp now owns 22,916 shares of the financial services provider's stock worth $860,000 after purchasing an additional 9,418 shares in the last quarter. Barclays PLC raised its holdings in United Bankshares by 89.5% in the 3rd quarter. Barclays PLC now owns 269,852 shares of the financial services provider's stock worth $10,012,000 after purchasing an additional 127,486 shares during the period. Finally, Nisa Investment Advisors LLC lifted its position in United Bankshares by 12.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,656 shares of the financial services provider's stock valued at $214,000 after purchasing an additional 608 shares in the last quarter. Hedge funds and other institutional investors own 70.80% of the company's stock.

Insider Activity at United Bankshares

In related news, Director Sara Dumond acquired 2,600 shares of the stock in a transaction on Monday, March 24th. The stock was 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 3.66% of the stock is owned by insiders.

United Bankshares Price Performance

UBSI traded up $0.54 during trading on Wednesday, reaching $34.47. 1,108,702 shares of the company traded hands, compared to its average volume of 611,273. The company has a market cap of $4.95 billion, a P/E ratio of 12.58 and a beta of 0.91. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. United Bankshares, Inc. has a 12-month low of $30.51 and a 12-month high of $44.43. The firm has a fifty day simple moving average of $34.41 and a 200 day simple moving average of $37.46.

United Bankshares (NASDAQ:UBSI - Get Free Report) last announced its quarterly earnings results on Friday, January 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating 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 in the prior year, the company posted $0.59 EPS. On average, equities analysts forecast that United Bankshares, Inc. will post 2.81 EPS for the current year.

United Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a $0.37 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.29%. United Bankshares's dividend payout ratio (DPR) is presently 54.01%.

Analyst Ratings Changes

Several research firms have recently commented on UBSI. Stephens reaffirmed an "equal weight" rating and issued a $43.00 price objective on shares of United Bankshares in a research note on Monday, January 27th. Keefe, Bruyette & Woods lowered their price target on shares of United Bankshares from $46.00 to $45.00 and set a "market perform" rating on the stock in a report on Monday, January 27th. Piper Sandler reiterated a "neutral" rating and issued a $38.50 price target on shares of United Bankshares in a research report on Wednesday, March 12th. Finally, StockNews.com downgraded shares of United Bankshares from a "hold" rating to a "sell" rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target 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.