United Bankshares, Inc. $UBSI Stock Position Reduced by UBS Group AG

UBS Group AG cut its stake in shares of United Bankshares, Inc. (NASDAQ:UBSI) by 21.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 349,835 shares of the financial services provider’s stock after selling 95,208 shares during the period. UBS Group AG’s holdings in United Bankshares were worth $13,434,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. High Point Wealth Management LLC bought a new stake in United Bankshares in the fourth quarter worth approximately $316,000. Concurrent Investment Advisors LLC bought a new stake in United Bankshares in the fourth quarter worth approximately $269,000. OLD National Bancorp IN bought a new stake in United Bankshares in the fourth quarter worth approximately $4,895,000. Milestone Asset Management LLC bought a new stake in United Bankshares in the fourth quarter worth approximately $206,000. Finally, HB Wealth Management LLC bought a new stake in United Bankshares in the fourth quarter worth approximately $255,000. 70.80% of the stock is owned by hedge funds and other institutional investors.

United Bankshares Price Performance

NASDAQ UBSI opened at $42.31 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.10. The company has a fifty day simple moving average of $42.01 and a 200 day simple moving average of $40.61. The company has a market cap of $5.83 billion, a P/E ratio of 11.85 and a beta of 0.72. United Bankshares, Inc. has a 1 year low of $34.10 and a 1 year high of $45.92.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.04. The business had revenue of $316.58 million during the quarter, compared to the consensus estimate of $315.15 million. United Bankshares had a net margin of 27.45% and a return on equity of 9.26%. During the same period in the prior year, the firm earned $0.59 EPS. On average, sell-side analysts predict that United Bankshares, Inc. will post 3.64 EPS for the current year.

United Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, June 12th. United Bankshares’s dividend payout ratio is currently 42.58%.

Analysts Set New Price Targets

Several research firms have commented on UBSI. Keefe, Bruyette & Woods boosted their target price on shares of United Bankshares from $40.00 to $43.00 and gave the stock a “market perform” rating in a research report on Monday, January 26th. Stephens boosted their target price on shares of United Bankshares from $40.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Weiss Ratings raised shares of United Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 13th. Raymond James Financial reissued an “outperform” rating and issued a $49.00 target price on shares of United Bankshares in a research report on Monday, April 27th. Finally, Piper Sandler reissued an “overweight” rating and issued a $47.00 target price on shares of United Bankshares in a research report on Monday, January 26th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $45.75.

United Bankshares Profile

United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company’s core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.

United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.