Vanguard Group Inc. Boosts Stock Position in United Bankshares, Inc. (NASDAQ:UBSI)

Vanguard Group Inc. lifted its position in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,310,562 shares of the financial services provider's stock after acquiring an additional 115,681 shares during the period. Vanguard Group Inc. owned approximately 10.58% of United Bankshares worth $537,362,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of UBSI. Geode Capital Management LLC raised its position in United Bankshares by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,306,542 shares of the financial services provider's stock worth $122,695,000 after buying an additional 53,994 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in United Bankshares by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,710,588 shares of the financial services provider's stock worth $64,233,000 after purchasing an additional 37,532 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its position in United Bankshares by 3.5% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,612,170 shares of the financial services provider's stock worth $60,538,000 after purchasing an additional 54,089 shares during the period. JPMorgan Chase & Co. raised its stake in United Bankshares by 9.8% during the 3rd 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 last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of United Bankshares by 1.3% during the 4th quarter. Rhumbline Advisers now owns 455,157 shares of the financial services provider's stock valued at $17,091,000 after buying an additional 6,002 shares during the period. Hedge funds and other institutional investors own 70.80% of the company's stock.

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Insider Activity

In other news, Director Sara Dumond acquired 2,600 shares of the business's stock in a transaction dated Monday, March 24th. The stock was purchased at an average price of $35.01 per share, for a total transaction of $91,026.00. Following the completion of 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.66% of the company's stock.

Wall Street Analyst Weigh In

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

United Bankshares Price Performance

United Bankshares stock traded down $2.37 during mid-day trading on Thursday, hitting $32.34. The stock had a trading volume of 1,283,070 shares, compared to its average volume of 569,249. 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 firm's 50 day moving average is $36.37 and its 200 day moving average is $37.97. The firm has a market capitalization of $4.63 billion, a P/E ratio of 11.80 and a beta of 0.91. United Bankshares, Inc. has a one year low of $30.68 and a one year high of $44.43.

United Bankshares (NASDAQ:UBSI - Get Free Report) last released its earnings results on Friday, January 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.01. United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. During the same quarter in the previous year, the company earned $0.59 earnings per share. On average, sell-side analysts forecast that United Bankshares, Inc. will post 2.81 earnings per share for the current fiscal year.

United Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 4.58%. The ex-dividend date of this dividend was Friday, March 14th. United Bankshares's payout ratio is currently 54.01%.

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.