1834 Investment Advisors Co. Buys Shares of 96,344 United Bankshares, Inc. $UBSI

Key Points

• 1834 Investment Advisors bought a new stake of 96,344 shares in United Bankshares (UBSI) in Q4, worth about $3.7 million, and institutional investors now own roughly 70.8% of the company after large additions by AQR, JPMorgan, Verition, Jane Street and Bank of America.
• Analyst consensus is a "Hold" with a consensus target of $44.67; several firms recently changed ratings and the stock trades around $43.49, near its 52-week high of $45.92.
• United Bankshares beat Q1 expectations with EPS of $0.89 versus $0.85 and revenue of $318.1M, and it pays a quarterly dividend of $0.38 (annualized yield ~3.5%).

1834 Investment Advisors Co. purchased a new stake in shares of United Bankshares, Inc. (NASDAQ:UBSI - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 96,344 shares of the financial services provider's stock, valued at approximately $3,700,000. 1834 Investment Advisors Co. owned 0.07% of United Bankshares at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. AQR Capital Management LLC grew its holdings in United Bankshares by 65.5% in the third quarter. AQR Capital Management LLC now owns 930,252 shares of the financial services provider's stock valued at $34,615,000 after purchasing an additional 368,141 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of United Bankshares by 64.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 782,292 shares of the financial services provider's stock worth $29,109,000 after buying an additional 307,159 shares during the last quarter. Verition Fund Management LLC boosted its position in shares of United Bankshares by 89.5% in the 3rd quarter. Verition Fund Management LLC now owns 520,964 shares of the financial services provider's stock worth $19,385,000 after buying an additional 246,006 shares in the last quarter. Jane Street Group LLC boosted its position in shares of United Bankshares by 564.0% in the 1st quarter. Jane Street Group LLC now owns 182,540 shares of the financial services provider's stock worth $6,329,000 after buying an additional 155,051 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in United Bankshares by 11.4% in the 3rd quarter. Bank of America Corp DE now owns 1,367,319 shares of the financial services provider's stock valued at $50,878,000 after acquiring an additional 139,646 shares during the last quarter. Hedge funds and other institutional investors own 70.80% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Weiss Ratings upgraded shares of United Bankshares from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, February 13th. Keefe, Bruyette & Woods increased their price target on shares of United Bankshares from $40.00 to $43.00 and gave the company a "market perform" rating in a research report on Monday, January 26th. Stephens raised their price objective on shares of United Bankshares from $40.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Friday, January 23rd. Piper Sandler restated an "overweight" rating and set a $47.00 price objective on shares of United Bankshares in a research report on Monday, January 26th. Finally, Zacks Research lowered United Bankshares from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 26th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, United Bankshares presently has a consensus rating of "Hold" and a consensus target price of $44.67.

United Bankshares Stock Performance

Shares of UBSI opened at $43.49 on Monday. United Bankshares, Inc. has a 1 year low of $33.70 and a 1 year high of $45.92. The company's 50 day simple moving average is $41.98 and its 200 day simple moving average is $39.98. The company has a market capitalization of $6.07 billion, a price-to-earnings ratio of 12.18 and a beta of 0.73. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.99.

United Bankshares (NASDAQ:UBSI - Get Free Report) last released its earnings results on Thursday, April 23rd. The financial services provider reported $0.89 EPS for the quarter, topping the consensus estimate of $0.85 by $0.04. The firm had revenue of $318.14 million during the quarter, compared to analysts' expectations 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 previous year, the company earned $0.59 EPS. On average, sell-side analysts predict that United Bankshares, Inc. will post 3.58 EPS for the current year.

United Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $1.52 annualized dividend and a dividend yield of 3.5%. United Bankshares's payout ratio is currently 42.58%.

United Bankshares Company 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.

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