United Bankshares, Inc. (NASDAQ:UBSI) Shares Bought by Wells Fargo & Company MN

Wells Fargo & Company MN boosted its holdings in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) by 3.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 433,497 shares of the financial services provider's stock after buying an additional 16,127 shares during the quarter. Wells Fargo & Company MN owned 0.32% of United Bankshares worth $16,278,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of UBSI. Integrated Investment Consultants LLC boosted its holdings in United Bankshares by 2.2% during the fourth quarter. Integrated Investment Consultants LLC now owns 12,537 shares of the financial services provider's stock worth $471,000 after buying an additional 270 shares in the last quarter. Principal Securities Inc. grew its holdings 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 valued at $117,000 after purchasing an additional 285 shares during the period. Arizona State Retirement System increased its position in shares of United Bankshares by 0.8% in the fourth quarter. Arizona State Retirement System now owns 39,225 shares of the financial services provider's stock valued at $1,473,000 after buying an additional 296 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of United Bankshares by 55.8% during the 4th quarter. Jones Financial Companies Lllp now owns 866 shares of the financial services provider's stock worth $33,000 after buying an additional 310 shares during the period. Finally, HighTower Advisors LLC lifted its position in shares of United Bankshares by 1.7% during the 3rd quarter. HighTower Advisors LLC now owns 19,542 shares of the financial services provider's stock valued at $730,000 after buying an additional 332 shares in the last quarter. 70.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on UBSI. Piper Sandler reaffirmed a "neutral" rating and set a $38.50 price objective on shares of United Bankshares in a report on Wednesday, March 12th. Stephens reissued an "equal weight" rating and set a $43.00 target price on shares of United Bankshares in a report on Monday, January 27th. StockNews.com lowered United Bankshares from a "hold" rating to a "sell" rating in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods decreased their price objective on United Bankshares from $46.00 to $45.00 and set a "market perform" rating on the stock in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $41.88.

Insider Buying and Selling

In other news, Director Sara Dumond purchased 2,600 shares of the company's stock in a transaction that occurred on Monday, March 24th. The shares were purchased at an average price of $35.01 per share, for a total transaction of $91,026.00. Following the purchase, the director now directly owns 5,054 shares of the company's stock, valued at $176,940.54. This represents a 105.95 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.66% of the stock is owned by company insiders.

United Bankshares Trading Up 0.2 %

United Bankshares stock traded up $0.07 during trading on Friday, hitting $33.51. The company had a trading volume of 2,560,841 shares, compared to its average volume of 605,586. United Bankshares, Inc. has a 1-year low of $30.51 and a 1-year high of $44.43. The company's 50 day simple moving average is $34.78 and its 200-day simple moving average is $37.52. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of 12.23 and a beta of 0.91. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11.

United Bankshares (NASDAQ:UBSI - Get Free Report) last issued its quarterly earnings results on Friday, January 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping 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 quarter last year, the firm earned $0.59 EPS. As a group, analysts expect that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Announces Dividend

The business 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. This represents a $1.48 annualized dividend and a dividend yield of 4.42%. The ex-dividend date was Friday, March 14th. United Bankshares's payout ratio is 54.01%.

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.