MetLife Investment Management LLC Has $5.75 Million Stock Position in United Bankshares, Inc. (NASDAQ:UBSI)

MetLife Investment Management LLC raised its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 7.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 153,241 shares of the financial services provider's stock after acquiring an additional 10,761 shares during the period. MetLife Investment Management LLC owned approximately 0.11% of United Bankshares worth $5,754,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in shares of United Bankshares during the fourth quarter worth $54,712,000. Raymond James Financial Inc. acquired a new position in United Bankshares in the fourth quarter valued at about $14,948,000. JPMorgan Chase & Co. increased its holdings in shares of United Bankshares by 39.7% in the fourth quarter. JPMorgan Chase & Co. now owns 830,774 shares of the financial services provider's stock worth $31,196,000 after acquiring an additional 235,955 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of United Bankshares during the fourth quarter worth about $7,383,000. Finally, Barclays PLC lifted its holdings 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 purchasing an additional 127,486 shares in the last quarter. 70.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Sara Dumond acquired 2,600 shares of the firm's stock in a transaction on Monday, March 24th. The shares were purchased at an average cost of $35.01 per share, for a total transaction of $91,026.00. Following the completion of the acquisition, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.66% of the stock is currently owned by corporate insiders.

United Bankshares Stock Down 1.1 %

Shares of United Bankshares stock traded down $0.37 during trading hours on Friday, reaching $34.09. 731,743 shares of the company's stock were exchanged, compared to its average volume of 613,020. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. The company has a 50 day moving average of $34.26 and a two-hundred day moving average of $37.44. The stock has a market cap of $4.89 billion, a P/E ratio of 12.44 and a beta of 0.91. United Bankshares, Inc. has a fifty-two week low of $30.51 and a fifty-two week high of $44.43.

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

United Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid 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 currently 54.01%.

Analyst Ratings Changes

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

About United Bankshares

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.